<SEC-DOCUMENT>0000912242-16-000022.txt : 20160506
<SEC-HEADER>0000912242-16-000022.hdr.sgml : 20160506
<ACCEPTANCE-DATETIME>20160506121037
ACCESSION NUMBER:		0000912242-16-000022
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		86
CONFORMED PERIOD OF REPORT:	20160331
FILED AS OF DATE:		20160506
DATE AS OF CHANGE:		20160506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MACERICH CO
		CENTRAL INDEX KEY:			0000912242
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				954448705
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12504
		FILM NUMBER:		161626730

	BUSINESS ADDRESS:	
		STREET 1:		401 WILSHIRE BLVD
		STREET 2:		STE 700
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90401
		BUSINESS PHONE:		3103946000

	MAIL ADDRESS:	
		STREET 1:		401 WILSHIRE BLVD SUITE 700
		CITY:			SANTA MONICA
		STATE:			CA
		ZIP:			90401
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>mac-3312016x10q.htm
<DESCRIPTION>10-Q
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>10-Q</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sC95BA4494A9D569FACA6CC69D1DE2F0B"></a></div><div style="line-height:120%;text-align:center;"><hr></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">UNITED STATES</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Washington, D.C. 20549</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">FORM&#160;10-Q</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">QUARTERLY REPORT PURSUANT TO SECTION&#160;13 OR 15(d) OF THE</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECURITIES EXCHANGE ACT OF&#160;1934</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">For the quarterly period ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commission File No.&#160;1-12504</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:18pt;"><font style="font-family:inherit;font-size:18pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(Exact name of registrant as specified in its charter)</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:49%;"></td><td style="width:1%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">MARYLAND</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">95-4448705</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(State or other jurisdiction of</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">incorporation or organization)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(I.R.S. Employer Identification Number)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">401 Wilshire Boulevard, Suite&#160;700, Santa Monica, California 90401</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;(Address of principal executive office, including zip code)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(310)&#160;394-6000</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;(Registrant's telephone number, including area code)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">N/A</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;(Former name, former address and former fiscal year, if changed since last report)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant (1)&#160;has filed all reports required to be filed by Section&#160;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve (12)&#160;months (or for such shorter period that the Registrant was required to file such reports) and (2)&#160;has been subject to such filing requirements for the past ninety (90)&#160;days.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">YES </font><font style="font-family:Wingdings;font-size:10pt;">x</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;NO </font><font style="font-family:Wingdings;font-size:10pt;">o</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule&#160;405 of Regulation&#160;S-T during the preceding twelve (12)&#160;months (or for such shorter period that the registrant was required to submit and post such files).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">YES </font><font style="font-family:Wingdings;font-size:10pt;">x</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;NO </font><font style="font-family:Wingdings;font-size:10pt;">o</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of large accelerated filer, accelerated filer and smaller reporting company in Rule&#160;12b-2 of the Exchange Act.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="7"></td></tr><tr><td style="width:24%;"></td><td style="width:1%;"></td><td style="width:23%;"></td><td style="width:1%;"></td><td style="width:23%;"></td><td style="width:1%;"></td><td style="width:27%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Large&#160;accelerated&#160;filer&#160;</font><font style="font-family:Wingdings;font-size:10pt;">x</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accelerated&#160;filer&#160;</font><font style="font-family:Wingdings;font-size:10pt;">o</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-accelerated&#160;filer&#160;</font><font style="font-family:Wingdings;font-size:10pt;">o</font></div><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font><font style="font-family:inherit;font-size:8pt;">(Do not check if a smaller</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">reporting company)</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Smaller&#160;reporting&#160;company  </font><font style="font-family:Wingdings;font-size:10pt;">o</font><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Indicate by check mark whether the registrant is a shell company (as defined in Rule&#160;12b-2 of the Exchange Act).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">YES </font><font style="font-family:Wingdings;font-size:10pt;">o</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;NO </font><font style="font-family:Wingdings;font-size:10pt;">x</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Number of shares outstanding as of </font><font style="font-family:inherit;font-size:10pt;">May&#160;5, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;of the registrant's common stock, par value $0.01 per share: </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">148,492,665</font><font style="font-family:inherit;font-size:10pt;">&#32;shares</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;"><hr></div><div><br></div><hr style="page-break-after:always"><div><a name="s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"></a></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">FORM&#160;10-Q</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">INDEX</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:682px;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:56px;"></td><td style="width:5px;"></td><td style="width:582px;"></td><td style="width:5px;"></td><td style="width:33px;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Part&#160;I</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Financial Information</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC103D621C8EB59E88091E0329B356CBE"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;1.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC103D621C8EB59E88091E0329B356CBE"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Financial Statements (Unaudited)</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC103D621C8EB59E88091E0329B356CBE">3</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sC2E16D8D5A735B489E9D66B07B3610A8"><font style="font-family:inherit;font-size:10pt;">Consolidated Balance Sheets as of March 31, 2016 and December 31, 2015</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC2E16D8D5A735B489E9D66B07B3610A8">3</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s68275F472AF252178C09752F24878CAE"><font style="font-family:inherit;font-size:10pt;">Consolidated Statements of Operations for the three months ended March 31, 2016 and 2015</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s68275F472AF252178C09752F24878CAE">4</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#sB1F3A42C33F3550BA6B6BAE8E1FCBBB0"><font style="font-family:inherit;font-size:10pt;">Consolidated Statement of Equity for the three months ended March 31, 2016</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sB1F3A42C33F3550BA6B6BAE8E1FCBBB0">5</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;" href="#s3C1F1AE25F8E57D0B6CF70D0D325EB41"><font style="font-family:inherit;font-size:10pt;">Consolidated Statements of Cash Flows for the three months ended March 31, 2016 and 2015</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s3C1F1AE25F8E57D0B6CF70D0D325EB41">6</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s167EF1C9151F52EAB96AA0C30F54BF13"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Notes to Consolidated Financial Statements</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s167EF1C9151F52EAB96AA0C30F54BF13">8</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s72E6E0B044ED5CFAACFDCA22D744524E"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;2.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s72E6E0B044ED5CFAACFDCA22D744524E"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Management's Discussion and Analysis of Financial Condition and Results of Operations</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s72E6E0B044ED5CFAACFDCA22D744524E">25</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0A139AD411E15F53A5964212ED19713E"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;3.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0A139AD411E15F53A5964212ED19713E"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Quantitative and Qualitative Disclosures About Market Risk</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0A139AD411E15F53A5964212ED19713E">38</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA620E4C230005D6FBF3F0115C3EA0C43"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;4.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA620E4C230005D6FBF3F0115C3EA0C43"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Controls and Procedures</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA620E4C230005D6FBF3F0115C3EA0C43">39</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Part&#160;II</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Other Information</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4B564D3CB52B57C4BD15DA3343C94100"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;1.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4B564D3CB52B57C4BD15DA3343C94100"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Legal Proceedings</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4B564D3CB52B57C4BD15DA3343C94100">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sDDA844D1EF25571BBE1C2A4E2D5E8765"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;1A.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sDDA844D1EF25571BBE1C2A4E2D5E8765"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Risk Factors</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sDDA844D1EF25571BBE1C2A4E2D5E8765">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC1B06AA8E7FA5D938E6B5AF25154AF20"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;2.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC1B06AA8E7FA5D938E6B5AF25154AF20"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Unregistered Sales of Equity Securities and Use of Proceeds</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sC1B06AA8E7FA5D938E6B5AF25154AF20">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sEAF7915FD75C576C9DA20402310DC7C3"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;3.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sEAF7915FD75C576C9DA20402310DC7C3"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Defaults Upon Senior Securities</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sEAF7915FD75C576C9DA20402310DC7C3">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s2A1D691A0A445E6AB0DFADC3124C4832"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;4.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s2A1D691A0A445E6AB0DFADC3124C4832"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Mine Safety Disclosures</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s2A1D691A0A445E6AB0DFADC3124C4832">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4A5DB6354AEA548DB1DBDA1031ACC5C9"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;5.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4A5DB6354AEA548DB1DBDA1031ACC5C9"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Other Information</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s4A5DB6354AEA548DB1DBDA1031ACC5C9">40</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0B22A6769B9C526BBB27E239DB5D2187"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Item&#160;6.</font></a></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0B22A6769B9C526BBB27E239DB5D2187"><font style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;">Exhibits</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#s0B22A6769B9C526BBB27E239DB5D2187">41</a></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="3" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;" href="#sA57CDFF99AFF51D99BB639E078B07566"><font style="font-family:inherit;font-size:10pt;color:#0000ff;font-weight:bold;text-decoration:underline;">Signature</font></a></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><a style="font-family:inherit;font-size:10pt;color:#0000ff;text-decoration:underline;" href="#sA57CDFF99AFF51D99BB639E078B07566">42</a></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2</font></div></div><hr style="page-break-after:always"><div><a name="sC103D621C8EB59E88091E0329B356CBE"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="sC2E16D8D5A735B489E9D66B07B3610A8"></a></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONSOLIDATED BALANCE SHEETS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except par value)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:504px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ASSETS:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,526,652</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,796,912</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,505</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">86,510</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,233</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41,389</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant and other receivables, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">113,188</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">130,002</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges and other assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">505,164</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">564,291</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Due from affiliates</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">73,087</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">83,928</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments in unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,844,516</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,532,552</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,211,345</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,235,584</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LIABILITIES AND EQUITY:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Related parties</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">179,935</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">181,069</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Others</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,732,114</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,427,518</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,912,049</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,608,587</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bank and other notes payable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">746,919</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">652,163</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable and accrued expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">64,549</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,398</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accrued dividend</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">337,703</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other accrued liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">375,023</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">403,281</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions in excess of investments in unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,995</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,457</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Co-venture obligation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">61,940</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63,756</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,181,475</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,164,345</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Commitments and contingencies</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stockholders' equity:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Common stock, $0.01 par value, 250,000,000 shares authorized, 149,455,915 and 154,404,986 shares issued and outstanding at March 31, 2016 and December&#160;31, 2015, respectively</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,495</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,544</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additional paid-in capital</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,841,291</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,926,630</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accumulated deficit</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(175,775</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(212,760</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total stockholders' equity</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,667,011</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,715,414</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,859</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">355,825</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total equity</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,029,870</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,071,239</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities and equity</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,211,345</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,235,584</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;The accompanying notes are an integral part of these consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3</font></div></div><hr style="page-break-after:always"><div><a name="s68275F472AF252178C09752F24878CAE"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF OPERATIONS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:6px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:499px;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:354px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:57px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:57px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Revenues:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">151,048</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">190,761</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Percentage rents</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,014</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,248</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Tenant recoveries</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80,173</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">105,698</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Other</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,148</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,003</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Management Companies</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,617</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,625</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total revenues</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">256,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">318,335</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Expenses:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Shopping center and operating expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79,324</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">101,664</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Management Companies' operating expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">27,900</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">26,468</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">REIT general and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,629</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,422</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Costs related to unsolicited takeover offer</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,572</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">86,931</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">120,618</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">202,784</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">270,744</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Interest expense:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Related parties</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,272</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,729</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Other</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,504</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">50,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">39,776</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53,286</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Loss (gain) on early extinguishment of debt, net</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(2,245</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total expenses</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">246,135</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">321,785</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Equity in income of unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">11,660</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,274</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Co-venture expense</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3,289</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(2,130</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Income tax (expense) benefit</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1,317</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">935</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Gain on sale or write down of assets, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">434,456</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">935</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Gain on remeasurement of assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">22,103</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">451,375</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">26,667</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Less net income attributable to noncontrolling interests</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">30,460</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net income attributable to the Company</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">420,915</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">24,611</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Earnings per common share&#8212;net income attributable to common stockholders:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Basic</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.77</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Diluted</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.76</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Weighted average number of common shares outstanding:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Basic</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">151,984,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">158,336,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">152,103,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">158,544,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;The accompanying notes are an integral part of these consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></div><hr style="page-break-after:always"><div><a name="sB1F3A42C33F3550BA6B6BAE8E1FCBBB0"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONSOLIDATED STATEMENT OF EQUITY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share data)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="27"></td></tr><tr><td style="width:164px;"></td><td style="width:63px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:50px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:57px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:63px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:63px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:70px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:57px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="18" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stockholders' Equity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Common Stock</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Par</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Additional</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Paid-in</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Accumulated Deficit</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stockholders'</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Equity</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Noncontrolling</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total Equity</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">154,404,986</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,544</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,926,630</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(212,760</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,715,414</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">355,825</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,071,239</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">420,915</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">420,915</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">30,460</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">451,375</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Amortization of share and unit-based plans</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">86,204</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,398</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,399</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,399</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stock repurchases</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(5,192,802</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(52</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(120,411</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(279,555</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(400,018</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(400,018</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Distributions declared ($0.68) per share</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(104,375</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(104,375</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(104,375</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Distributions to noncontrolling interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(9,720</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(9,720</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Conversion of noncontrolling interests to common shares</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">157,527</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,106</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,108</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3,108</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Redemption of noncontrolling interests</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(23</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(23</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(7</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(30</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Adjustment of noncontrolling interests in Operating Partnership</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,591</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,591</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(10,591</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">149,455,915</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,495</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,841,291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(175,775</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,667,011</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">362,859</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,029,870</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;The accompanying notes are an integral part of these consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5</font></div></div><hr style="page-break-after:always"><div><a name="s3C1F1AE25F8E57D0B6CF70D0D325EB41"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF CASH FLOWS</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands)</font></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:652px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:504px;"></td><td style="width:9px;"></td><td style="width:58px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:59px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from operating activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:inherit;font-size:7pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">451,375</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,667</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Adjustments to reconcile net income to net cash provided by operating activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on early extinguishment of debt, net</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,453</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,245</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on sale or write down of assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(434,456</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(935</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(22,103</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">88,176</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">122,418</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of net premium on mortgage notes payable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,050</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,903</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of share and unit-based plans</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,440</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14,468</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Straight-line rent adjustment</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(910</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(386</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amortization of above and below-market leases</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,643</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,666</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Provision for doubtful accounts</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">919</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,330</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax expense (benefit)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,317</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(935</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity in income of unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(11,660</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(8,274</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions of income from unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,035</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Co-venture expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,289</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,130</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:20px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Changes in assets and liabilities, net of acquisitions and dispositions:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant and other receivables</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,686</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,836</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(9,743</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,310</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Due from affiliates</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,123</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">650</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accounts payable and accrued expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,166</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,318</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:36px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other accrued liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,562</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">450</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash provided by operating activities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,841</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">162,130</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from investing activities:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquisitions of property</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(26,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development, redevelopment, expansion and renovation of properties</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(60,895</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(90,157</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property improvements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,311</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,855</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proceeds from notes receivable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">932</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">452</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred leasing costs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(7,359</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(9,768</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions from unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">181,900</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,096</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contributions to unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(350,668</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(33,284</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proceeds from sale of assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">600,665</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,440</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Restricted cash</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(849</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,694</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash provided by (used in) investing activities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">358,415</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(150,020</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:652px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:504px;"></td><td style="width:9px;"></td><td style="width:58px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:59px;"></td><td style="width:4px;"></td></tr><tr><td colspan="8" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="padding-top:4px;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)</font></div><div style="padding-top:4px;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands)</font></div><div style="padding-top:9px;padding-bottom:4px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash flows from financing activities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Proceeds from mortgages, bank and other notes payable</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,126,138</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">815,671</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Payments on mortgages, bank and other notes payable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,713,094</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(674,569</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred financing costs</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,927</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(3,476</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Payment of stock issuance costs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(304</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock repurchases</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(400,018</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Redemption of noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(30</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Dividends and distributions</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(452,225</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(111,462</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Distributions to co-venture partner</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5,105</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net cash (used in) provided by financing activities</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(446,261</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,144</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net increase in cash and cash equivalents</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,995</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33,254</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents, beginning of period</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">86,510</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">84,907</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash and cash equivalents, end of period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,505</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">118,161</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Supplemental cash flow information:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash payments for interest, net of amounts capitalized</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,073</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">60,102</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Non-cash investing and financing transactions:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,887</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31,823</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">997,695</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assumption of mortgage note payable from unconsolidated joint venture</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquisition of property in exchange for investment in unconsolidated joint venture</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,250</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Conversion of Operating Partnership Units to common stock</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,108</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:3px double #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,553</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:12px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying notes are an integral part of these consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7</font></div></div><hr style="page-break-after:always"><div><a name="s167EF1C9151F52EAB96AA0C30F54BF13"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div><a name="sEDC569F50F995E6CA2AB090386A0B597"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">Organization</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company commenced operations effective with the completion of its initial public offering on March&#160;16, 1994. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was the sole general partner of and held a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">93%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in The Macerich Partnership,&#160;L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company,&#160;LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners&#160;LLC, a single member Arizona limited liability company, Macerich Arizona Management&#160;LLC, a single member Delaware limited liability company, Macerich Partners of Colorado, LLC, a single member Colorado limited liability company, MACW Mall Management,&#160;Inc., a New York corporation, and MACW Property Management,&#160;LLC, a single member New York limited liability company. All </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">seven</font><font style="font-family:inherit;font-size:10pt;">&#32;of the management companies are collectively referred to herein as the "Management Companies."</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All references to the Company in this Quarterly Report on Form&#160;10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.</font></div><div><a name="sFF54C091B8EC5F339F60C9CF1C7D59B1"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;Summary of Significant Accounting Policies:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form&#160;10-Q and Article&#160;10 of Regulation&#160;S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 1, 2016, the Company adopted Accounting Standards Update (&#8220;ASU&#8221;) 2015-02,&#160;&#8220;Consolidation (Topic 810): Amendments to the Consolidation Analysis,&#8221; which made certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity ("VIE") characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. The Company evaluated the new standard and determined that no change was required to its accounting for variable interest entities.  However, under the guidance of the new standard, all of the Company's consolidated joint ventures, including the Operating Partnership, now meet the definition and criteria as VIEs and the Company is the primary beneficiary of each VIE.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership.  In addition the Operating Partnership has investments in a number of VIEs.  </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.    Summary of Significant Accounting Policies: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The VIEs included the following assets and liabilities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:480px;"></td><td style="width:8px;"></td><td style="width:69px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:70px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">360,666</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,129</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,202</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,075</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,868</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,204</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138,130</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,767</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81,932</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">79,984</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,062</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">219,751</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form&#160;10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;has been derived from the audited financial statements but does not include all disclosures required by GAAP.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Pronouncements:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued ASU 2014-09,&#160;&#8220;Revenue From Contracts With Customers,&#8221;&#160;which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 states that &#8220;an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&#8221; While ASU 2014-09 specifically references contracts with customers, it may apply to certain other transactions such as the sale of real estate or equipment. In July 2015, the FASB voted to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning January 1, 2018, with early adoption permitted beginning January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;In April 2015, the FASB issued ASU 2015-03,&#160;&#8220;Simplifying the Presentation of Debt Issuance Costs,&#8221; which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The Company's adoption of ASU 2015-03 on January 1, 2016 resulted in an adjustment of its consolidated balance sheet at December 31, 2015 to reflect the new presentation required by the standard. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which requires adjustments to provisional amounts used in business combinations during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. It also requires the disclosure of the impact on changes in estimates on earnings, depreciation, amortization and other income effects. The Company's adoption of this standard on January 1, 2016 did not have an impact on its consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">2.    Summary of Significant Accounting Policies: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not initial direct leasing costs. ASU 2016-02 is effective for the Company beginning January 1, 2019. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718)," which amends the accounting for share-based payments, including the income tax consequences, classification of awards and classification on the statement of cash flows. ASU 2016-09 is effective for the Company beginning January 1, 2017. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div><div><a name="s5630E065C9F35D9E97C063C950B8C7C8"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per Share ("EPS"):</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table reconciles the numerator and denominator used in the computation of earnings per share for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;(shares in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:548px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:416px;"></td><td style="width:8px;"></td><td style="width:47px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:53px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Numerator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">451,375</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,667</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(30,460</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to the Company</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,915</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,611</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allocation of earnings to participating securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(420</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(148</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Numerator for basic and diluted earnings per share&#8212;net income attributable to common stockholders</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,495</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,463</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Denominator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for basic earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151,984</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,336</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Effect of dilutive securities:(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share and unit-based compensation plans</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">119</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for diluted earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">152,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,544</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per common share&#8212;net income attributable to common stockholders:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basic</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.77</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Diluted</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.76</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">138,759</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">140,490</font><font style="font-family:inherit;font-size:9pt;">&#32;convertible preferred units for the </font><font style="font-family:inherit;font-size:9pt;">three months ended</font><font style="font-family:inherit;font-size:9pt;">&#32;</font><font style="font-family:inherit;font-size:9pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;">10,820,343</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">10,516,523</font><font style="font-family:inherit;font-size:9pt;">&#32;Operating Partnership units ("OP Units") for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10</font></div></div><hr style="page-break-after:always"><div><a name="s9FAF6EB9DE65579F8FD7697386D35E80"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:18px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">4.</font></div></td><td style="vertical-align:top;padding-left:6px;"><div style="line-height:120%;font-size:10pt;text-indent:-6px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investments in Unconsolidated Joint Ventures:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made the following recent investments and dispositions in its unconsolidated joint ventures:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company acquired the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">867,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">San Bernardino</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, that it did not previously own for </font><font style="font-family:inherit;font-size:10pt;">$51,250</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$26,250</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of the third party's share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$25,000</font><font style="font-family:inherit;font-size:10pt;">. Concurrent with the purchase of the joint venture interest, the Company paid off the </font><font style="font-family:inherit;font-size:10pt;">$50,000</font><font style="font-family:inherit;font-size:10pt;">&#32;mortgage note payable on the property. The cash payment was funded by borrowings under the Company's line of credit. Prior to the acquisition, the Company had accounted for its investment in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;under the equity method of accounting. Since the date of acquisition, the Company has included </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;in its consolidated financial statements (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Acquisitions</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into a 50/50 joint venture with Sears to own </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;">&#32;freestanding stores located at </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Chandler Fashion Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Danbury Fair Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Freehold Raceway Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Vintage Faire Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">. The Company invested </font><font style="font-family:inherit;font-size:10pt;">$150,000</font><font style="font-family:inherit;font-size:10pt;">&#32;for a </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownerhsip interest in the joint venture, which was funded by borrowings under the Company's line of credit.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;(the "PPR Portfolio"), which owns </font><font style="font-family:inherit;font-size:10pt;">Lakewood Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">2,075,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Lakewood</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,296,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Cerritos</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,127,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Lubbock</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Texas</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,442,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Portland</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Oregon</font><font style="font-family:inherit;font-size:10pt;">, for a total sales price of </font><font style="font-family:inherit;font-size:10pt;">$1,258,643</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$311,194</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$545,643</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage notes payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$713,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sales to pay down its line of credit and for general corporate purposes, which included funding the ASR and Special Dividend (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:10pt;">,  the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,197,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Glendale</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$289,496</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$104,293</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$129,496</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$160,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes, which included funding the Special Dividend (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company formed a joint venture, whereby the Company sold a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,040,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Deptford</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New Jersey</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">FlatIron Crossing</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,432,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Broomfield</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Twenty Ninth Street</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">852,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Boulder</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;">&#32;(the "</font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">"), for </font><font style="font-family:inherit;font-size:10pt;">$771,478</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$340,741</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$478,608</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage note payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$292,870</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company, through a 50/50 joint venture, acquired </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,300,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Kansas City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Missouri</font><font style="font-family:inherit;font-size:10pt;">&#32;for a total purchase price of </font><font style="font-family:inherit;font-size:10pt;">$660,000</font><font style="font-family:inherit;font-size:10pt;">. The Company funded its pro rata share of the purchase price of </font><font style="font-family:inherit;font-size:10pt;">$330,000</font><font style="font-family:inherit;font-size:10pt;">&#32;with borrowings under its line of credit. On </font><font style="font-family:inherit;font-size:10pt;">March&#160;28, 2016</font><font style="font-family:inherit;font-size:10pt;">, the joint venture placed a </font><font style="font-family:inherit;font-size:10pt;">$320,000</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on the property that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">3.88%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">April&#160;1, 2026</font><font style="font-family:inherit;font-size:10pt;">. The Company used its pro rata share of the proceeds to pay down its line of credit.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">4.    Investments in Unconsolidated Joint Ventures: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Combined and condensed balance sheets and statements of operations are presented below for all unconsolidated joint ventures.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:504px;"></td><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,246,945</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,334,442</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">621,668</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">507,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities and partners' capital(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage and other notes payable(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,926,654</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,607,588</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">442,846</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">355,634</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Outside partners' capital</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,063,630</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,293,142</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities and partners' capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments in unconsolidated joint ventures:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basis adjustment(3)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(611,962</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(77,701</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets&#8212;Investments in unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,844,516</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,532,552</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities&#8212;Distributions in excess of investments in unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(20,995</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,457</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts include the assets of </font><font style="font-family:inherit;font-size:10pt;">$3,258,293</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$3,283,702</font><font style="font-family:inherit;font-size:10pt;">&#32;of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and liabilities of </font><font style="font-family:inherit;font-size:10pt;">$1,919,760</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$1,938,241</font><font style="font-family:inherit;font-size:10pt;">&#32;of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$5,000</font><font style="font-family:inherit;font-size:10pt;">&#32;could become recourse debt to the Company. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company had an indemnity agreement from a joint venture partner for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,500</font><font style="font-family:inherit;font-size:10pt;">&#32;of the guaranteed amount.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$458,843</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$460,872</font><font style="font-family:inherit;font-size:10pt;">&#32;as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates&#8212;Broadway Plaza. Interest expense on these borrowings was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6,366</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,508</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4,457</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$420</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">4.    Investments in Unconsolidated Joint Ventures: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:593px;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:320px;"></td><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Pacific</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Premier</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Retail&#160;LLC (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Joint</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2016</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,583</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,373</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">136,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">759</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,753</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,512</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,976</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,443</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,838</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,352</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,190</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,156</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,921</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208,077</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,298</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63,084</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,214</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27,738</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,952</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,084</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,533</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">84,617</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,084</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">137,569</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">190,653</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss on sale or write down of assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,928</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,419</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,244</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,904</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,660</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2015</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">_______________________________________________________________________________</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:42px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts exclude the results of operations from January 1, 2015 to March 31, 2015, as </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;was wholly-owned during that period. On October 30, 2015, as a result of the PPR Portfolio transaction discussed above, </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;was converted from wholly-owned to an unconsolidated joint venture.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant accounting policies used by the unconsolidated joint ventures are similar to those used by the Company.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13</font></div></div><hr style="page-break-after:always"><div><a name="sFC505FA9475957D5AB398926B6F7C64C"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;Property, net:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, net consists of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:588px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:410px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,658,466</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,894,717</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,595,692</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,752,892</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant improvements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">573,863</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">637,355</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equipment and furnishings</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,891</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">169,841</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Construction in progress</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">264,431</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">234,851</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,254,343</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,689,656</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,727,691</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,892,744</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,526,652</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,796,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation expense was </font><font style="font-family:inherit;font-size:10pt;">$69,903</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$90,197</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The gain on sale or write down of assets, net for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;includes a gain of </font><font style="font-family:inherit;font-size:10pt;">$104,293</font><font style="font-family:inherit;font-size:10pt;">&#32;on the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;(See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">), </font><font style="font-family:inherit;font-size:10pt;">$340,741</font><font style="font-family:inherit;font-size:10pt;">&#32;on the sale of a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">) and a gain of </font><font style="font-family:inherit;font-size:10pt;">$2,412</font><font style="font-family:inherit;font-size:10pt;">&#32;on the sale of land offset in part by a </font><font style="font-family:inherit;font-size:10pt;">$12,294</font><font style="font-family:inherit;font-size:10pt;">&#32;adjustment to contingent consideration (See Note 13&#8212;Acquisitions) and </font><font style="font-family:inherit;font-size:10pt;">$696</font><font style="font-family:inherit;font-size:10pt;">&#32;on the write-off of development costs. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The gain on sale or write down of assets, net for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;includes a gain of </font><font style="font-family:inherit;font-size:10pt;">$1,056</font><font style="font-family:inherit;font-size:10pt;">&#32;on the sale of land offset in part by a loss of </font><font style="font-family:inherit;font-size:10pt;">$121</font><font style="font-family:inherit;font-size:10pt;">&#32;on the sale of assets. </font></div><div><a name="s07EB849CCF7F5FCCBE0B2FC52EBB1CF2"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Tenant and Other Receivables, net:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in tenant and other receivables, net is an allowance for doubtful accounts of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,684</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3,072</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Also included in tenant and other receivables, net are accrued percentage rents of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,157</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$10,940</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and a deferred rent receivable due to straight-line rent adjustments of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$54,079</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$60,790</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;17, 2014</font><font style="font-family:inherit;font-size:10pt;">, in connection with the sale of </font><font style="font-family:inherit;font-size:10pt;">Lake Square Mall</font><font style="font-family:inherit;font-size:10pt;">, the Company issued a note receivable for </font><font style="font-family:inherit;font-size:10pt;">$6,500</font><font style="font-family:inherit;font-size:10pt;">&#32;that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">6.5%</font><font style="font-family:inherit;font-size:10pt;">, matures on </font><font style="font-family:inherit;font-size:10pt;">March&#160;17, 2018</font><font style="font-family:inherit;font-size:10pt;">&#32;and is collateralized by a trust deed on </font><font style="font-family:inherit;font-size:10pt;">Lake Square Mall</font><font style="font-family:inherit;font-size:10pt;">. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the note had a balance of </font><font style="font-family:inherit;font-size:10pt;">$6,331</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$6,351</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">14</font></div></div><hr style="page-break-after:always"><div><a name="sF95FACA036AE5BE7B219133BC5BE6641"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Deferred Charges and Other Assets, net:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges and other assets, net consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:412px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">224,302</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">248,709</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease values</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">159,057</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,969</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing commissions and legal costs</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,556</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Above-market leases</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,591</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,847</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred compensation plan assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,818</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,341</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,363</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,070</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">760,420</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">864,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization(1)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(255,256</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(300,492</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">505,164</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">564,291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accumulated amortization includes </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$84,501</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$109,453</font><font style="font-family:inherit;font-size:9pt;">&#32;relating to in-place lease values, leasing commissions and legal costs at </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:9pt;">, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was </font><font style="font-family:inherit;font-size:9pt;">$8,847</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">$21,678</font><font style="font-family:inherit;font-size:9pt;">&#32;for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:9pt;">&#32;</font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allocated values of above-market leases and below-market leases consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:412px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:73px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Above-Market Leases</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(70,277</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(73,520</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140,456</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">147,327</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Below-Market Leases(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">202,454</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">227,063</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(91,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(101,872</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">110,736</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125,191</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Below-market leases are included in other accrued liabilities.</font></div></td></tr></table><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15</font></div></div><hr style="page-break-after:always"><div><a name="s450DB558A43A568E81D4220D02E943B0"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">8.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Mortgage Notes Payable:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:614px;border-collapse:collapse;text-align:left;"><tr><td colspan="27"></td></tr><tr><td style="width:189px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:45px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:47px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:47px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:45px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:47px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:47px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:52px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Amount of Mortgage Notes(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Effective Interest</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Rate(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Monthly</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Debt</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Service(3)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maturity</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Date(4)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center(5)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">221,194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Chandler Fashion Center(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,784</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,766</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.77</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">625</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Danbury Fair Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,078</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,079</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5.53</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,538</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(7)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">193,337</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(8)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,999</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Chicago</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,688</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,653</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.10</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">323</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,903</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,708</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.89</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">727</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Flagstaff Mall(9)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8.97</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">153</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2015</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FlatIron Crossing(7)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">254,075</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Freehold Raceway Mall(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,805</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,836</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.20</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,132</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Green Acres Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">302,428</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">303,960</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,447</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Kings Plaza Shopping Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">463,952</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">466,266</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.67</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,229</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Northgate Mall(10)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,777</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">143</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Oaks, The</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">204,492</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">205,555</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,064</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Pacific View</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,108</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.08</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">668</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Queens Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.49</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,744</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2025</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Santa Monica Place</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,509</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,815</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.99</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,004</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">SanTan Village Regional Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,911</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,638</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">589</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">104,023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">105,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.80</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">640</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center(11)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,674</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,749</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.26</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">154</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2016</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Towne Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,860</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.48</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Tucson La Encantada</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,628</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,991</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.23</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">368</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Victor Valley, Mall of</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,515</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,500</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">380</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2024</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vintage Faire Mall</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">273,125</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">274,417</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.55</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,255</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2026</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Westside Pavilion</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">145,942</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">146,630</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.49</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">179,935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,732,114</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">181,069</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,427,518</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">8.    Mortgage Notes Payable: (Continued)</font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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:</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:298px;"></td><td style="width:5px;"></td><td style="width:77px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:77px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,254</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,467</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,168</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">263</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,905</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18,408</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:60px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The mortgage notes payable balances also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.  Unamortized deferred finance costs were </font><font style="font-family:inherit;font-size:8pt;">$13,182</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">$16,025</font><font style="font-family:inherit;font-size:8pt;">&#32;at </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The monthly debt service represents the payment of principal and interest.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(5)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company replaced the existing loan on the property with a new </font><font style="font-family:inherit;font-size:8pt;">$400,000</font><font style="font-family:inherit;font-size:8pt;">&#32;loan that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:8pt;">4.05%</font><font style="font-family:inherit;font-size:8pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:8pt;">February&#160;1, 2028</font><font style="font-family:inherit;font-size:8pt;">, which resulted in a loss of </font><font style="font-family:inherit;font-size:8pt;">$3,575</font><font style="font-family:inherit;font-size:8pt;">&#32;on the early extinguishment of debt. Concurrently, a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;">&#32;ownership interest in the underlying property (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(6)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">A </font><font style="font-family:inherit;font-size:8pt;">49.9%</font><font style="font-family:inherit;font-size:8pt;">&#32;interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">10</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Co-Venture Arrangement</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(7)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:8pt;">, a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:8pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:8pt;">&#32;(See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(8)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company paid off in full the loan on the property. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(9)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:8pt;">, this non-recourse loan went into maturity default. The Company is negotiating with the loan servicer, which will likely result in a transition of the property to the loan servicer or a receiver.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(10)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.25%</font><font style="font-family:inherit;font-size:8pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2017</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">3.32%</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">3.30%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(11)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.30%</font><font style="font-family:inherit;font-size:8pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:8pt;">October&#160;28, 2016</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">2.26%</font><font style="font-family:inherit;font-size:8pt;">&#32;and </font><font style="font-family:inherit;font-size:8pt;">2.17%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Most of the Company's mortgage notes payable are secured by the properties on which they are placed and are non-recourse to the Company. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;">$13,500</font><font style="font-family:inherit;font-size:10pt;">&#32;of the mortgage notes payable could become recourse to the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company expects that all loan maturities during the next twelve months, except for the loan on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, will be refinanced, restructured, extended and/or paid-off from the Company's line of credit or with cash on hand. The mortgage note payable on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, which went into maturity default on </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:10pt;">, is a non-recourse loan.&#160;The Company is working with the loan servicer and expects the property will be transferred to the loan servicer or a receiver.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total interest expense capitalized was </font><font style="font-family:inherit;font-size:10pt;">$2,303</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,629</font><font style="font-family:inherit;font-size:10pt;">&#32;during the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">8.    Mortgage Notes Payable: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Related party mortgage notes payable are amounts due to an affiliate of NML. See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Related Party Transactions</font><font style="font-family:inherit;font-size:10pt;">&#32;for interest expense associated with loans from NML.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair value (Level&#160;2 measurement) of mortgage notes payable at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3,951,798</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4,628,781</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on current interest rates for comparable loans. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt.</font></div><div><a name="sAE4385EF02C25A12BDA3AAF88353689D"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">9.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;Bank and Other Notes Payable:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bank and other notes payable consist of the following:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Line of Credit:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,500,000</font><font style="font-family:inherit;font-size:10pt;">&#32;revolving line of credit that bears interest at </font><font style="font-family:inherit;font-size:10pt;">LIBOR</font><font style="font-family:inherit;font-size:10pt;">&#32;plus a spread of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.38%</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.0%</font><font style="font-family:inherit;font-size:10pt;">, depending on the Company's overall leverage level, and matures on August 6, 2018. Based on the Company's leverage level as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the borrowing rate on the facility was </font><font style="font-family:inherit;font-size:10pt;">LIBOR</font><font style="font-family:inherit;font-size:10pt;">&#32;plus </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.50%</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, borrowings under the line of credit, were </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$745,000</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$650,000</font><font style="font-family:inherit;font-size:10pt;">, respectively, less unamortized deferred finance costs of </font><font style="font-family:inherit;font-size:10pt;">$6,299</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$6,967</font><font style="font-family:inherit;font-size:10pt;">, respectively, at an average interest rate of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.11%</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.95%</font><font style="font-family:inherit;font-size:10pt;">, respectively. The estimated fair value (Level&#160;2 measurement) of the line of credit at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$739,417</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$640,260</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Prasada Note:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 29, 2013, the Company issued a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$13,330</font><font style="font-family:inherit;font-size:10pt;">&#32;note payable that bears interest at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">5.25%</font><font style="font-family:inherit;font-size:10pt;">&#32;and was to mature on March 29, 2016. The maturity date of the note has been extended to May 30, 2016. The note payable is collateralized by a portion of a development reimbursement agreement with the City of Surprise, Arizona. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the note had a balance of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,218</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$9,130</font><font style="font-family:inherit;font-size:10pt;">, respectively. The estimated fair value (Level&#160;2 measurement) of the note at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,244</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$9,168</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on current interest rates for comparable notes. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the collateral for the underlying debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company was in compliance with all applicable financial loan covenants.</font></div><div><a name="s6C09DBEDFB1F5B13B435F4B04A4BE432"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">10.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Co-Venture Arrangement:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2009</font><font style="font-family:inherit;font-size:10pt;">, the Company formed a joint venture, whereby a third party acquired a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">49.9%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in Freehold Raceway Mall, a </font><font style="font-family:inherit;font-size:10pt;">1,670,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Freehold</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New Jersey</font><font style="font-family:inherit;font-size:10pt;">, and Chandler Fashion Center, a </font><font style="font-family:inherit;font-size:10pt;">1,319,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Chandler</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a result of the Company having certain rights under the agreement to repurchase the assets after the seventh year of the venture formation, the transaction did not qualify for sale treatment. The Company, however, is not obligated to repurchase the assets. The transaction has been accounted for as a profit-sharing arrangement, and accordingly the assets, liabilities and operations of the properties remain on the books of the Company and a co-venture obligation was established for the amount of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$168,154</font><font style="font-family:inherit;font-size:10pt;">, representing the net cash proceeds received from the third party. The co-venture obligation is increased for the allocation of income to the co-venture partner and decreased for distributions to the co-venture partner. The co-venture obligation was </font><font style="font-family:inherit;font-size:10pt;">$61,940</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$63,756</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div><a name="s08DC25DF98935462A1741316043A9F43"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">11</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">.  Noncontrolling Interests:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company allocates net income of the Operating Partnership based on the weighted average ownership interest during the period. The net income of the Operating Partnership that is not attributable to the Company is reflected in the consolidated </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">11.  Noncontrolling Interests: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">statements of operations as noncontrolling interests. The Company adjusts the noncontrolling interests in the Operating Partnership at the end of each period to reflect its ownership interest in the Company. The Company had a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">93%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the Operating Partnership as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. The remaining </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">7%</font><font style="font-family:inherit;font-size:10pt;">&#32;limited partnership interest as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was owned by certain of the Company's executive officers and directors, certain of their affiliates, and other third party investors in the form of OP Units. The OP Units may be redeemed for shares of stock or cash, at the Company's option. The redemption value for each OP Unit as of any balance sheet date is the amount equal to the average of the closing price per share of the Company's common stock, par value </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.01</font><font style="font-family:inherit;font-size:10pt;">&#32;per share, as reported on the New York Stock Exchange for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">10</font><font style="font-family:inherit;font-size:10pt;">&#32;trading days ending on the respective balance sheet date. Accordingly, as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$860,925</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$870,625</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company issued common and preferred units of MACWH,&#160;LP in April&#160;2005 in connection with the acquisition of the Wilmorite portfolio. The common and preferred units of MACWH,&#160;LP are redeemable at the election of the holder. The Company may redeem them for cash or shares of the Company's stock at the Company's option and they are classified as permanent equity.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in permanent equity are outside ownership interests in various consolidated joint ventures. The joint ventures do not have rights that require the Company to redeem the ownership interests in either cash or stock.</font></div><div><a name="sD4EB61122CF656C5B43CF1BAEAC5C053"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">12.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Stockholders' Equity:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Stock Buyback Program:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company's Board of Directors authorized the repurchase of up to </font><font style="font-family:inherit;font-size:10pt;">$1,200,000</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's outstanding common shares over the period ending </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;">, as market conditions warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated stock repurchase transactions, or other methods of acquiring shares and pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, from time to time as permitted by securities laws and other legal requirements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;12, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an accelerated share repurchase program ("ASR") to repurchase </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;">&#32;and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,140,788</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. On </font><font style="font-family:inherit;font-size:10pt;">January&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">970,609</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,111,397</font><font style="font-family:inherit;font-size:10pt;">&#32;shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.26</font><font style="font-family:inherit;font-size:10pt;">&#32;per share. The ASR was funded from proceeds in connection with the financing and sale of the ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an ASR to repurchase an additional </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;">&#32;and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,222,193</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. On </font><font style="font-family:inherit;font-size:10pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">861,235</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,083,428</font><font style="font-family:inherit;font-size:10pt;">&#32;shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.69</font><font style="font-family:inherit;font-size:10pt;">&#32;per share. The ASR was funded from borrowings under the Company's line of credit, which had been recently paid down from the proceeds from the recently completed financings and sale of ownership interests (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Special Dividends:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 30, 2015, the Company declared </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;">&#32;special dividends/distributions ("Special Dividend"), each of </font><font style="font-family:inherit;font-size:10pt;">$2.00</font><font style="font-family:inherit;font-size:10pt;">&#32;per share of common stock and per OP Unit.&#160; The first Special Dividend was paid on December 8, 2015 to common stockholders and OP Unit holders of record on November 12, 2015.&#160;The second Special Dividend was paid on January 6, 2016 to common stockholders and OP Unit holders of record on November 12, 2015. The Special Dividends were funded from proceeds in connection with the financing and sale of ownership interests in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;(See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">12.   Stockholders' Equity: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">At-The-Market Stock Offering Program ("ATM Program"):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 20, 2014, the Company entered into an equity distribution agreement with a number of sales agents (the "ATM Program") to issue and sell, from time to time, shares of common stock, par value </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;">&#32;per share, having an aggregate offering price of up to </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;">&#32;(the &#8220;ATM Shares&#8221;). Sales of the ATM Shares can be made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an &#8220;at the market&#8221; offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. The Company agreed to pay each sales agent a commission that was not to exceed, but could have been lower than, </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;">&#32;of the gross proceeds of the ATM Shares sold through such sales agent under the distribution agreement.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;">&#32;of the ATM Shares were available to be sold under the ATM Program. Actual future sales of the ATM Shares under the ATM Program will depend upon a variety of factors including but not limited to market conditions, the trading price of the Company's common stock and the Company's capital needs. The Company has no obligation to sell the ATM Shares under the ATM Program.</font></div><div><a name="sD3DA4831B40B59A2A74097C431AE883E"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">13.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisitions:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, the Company purchased </font><font style="font-family:inherit;font-size:10pt;">AWE/Talisman</font><font style="font-family:inherit;font-size:10pt;">'s ownership interest in its consolidated joint venture in </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;">&#32;for </font><font style="font-family:inherit;font-size:10pt;">$69,987</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$55,867</font><font style="font-family:inherit;font-size:10pt;">&#32;and the settlement of the balance on notes receivables of </font><font style="font-family:inherit;font-size:10pt;">$14,120</font><font style="font-family:inherit;font-size:10pt;">. The cash payment was funded by borrowings under the Company's line of credit. The purchase agreement includes contingent consideration based on the financial performance of </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;">&#32;at an agreed upon date in 2016. The Company estimated the fair value of the contingent consideration as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to be </font><font style="font-family:inherit;font-size:10pt;">$23,459</font><font style="font-family:inherit;font-size:10pt;">, which has been included in other accrued liabilities. As a result of this acquisition, the noncontrolling interest of </font><font style="font-family:inherit;font-size:10pt;">$76,141</font><font style="font-family:inherit;font-size:10pt;">&#32;was reversed.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Inland Center</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company acquired the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;that it did not previously own for </font><font style="font-family:inherit;font-size:10pt;">$51,250</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$26,250</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of the third party's share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$25,000</font><font style="font-family:inherit;font-size:10pt;">. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">). As a result of this transaction, the Company obtained </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership of </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">. The acquisition was completed in order to obtain </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership and control over this asset.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is a summary of the allocation of the fair value of </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91,871</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,752</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets acquired</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,405</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage note payable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other accrued liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities assumed</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">13.    Acquisitions: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determined that the purchase price represented the fair value of the additional ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;that was acquired. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of existing ownership interest (at 50% ownership)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,161</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is the reconciliation of the purchase price to the fair value of the acquired net assets:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:85%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Purchase price</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less debt assumed</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,000</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,161</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since the date of acquisition, the Company has included </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;in its consolidated financial statements. </font></div><div><a name="s26895D88C2E559279BAE45888141176E"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">14.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Dispositions:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following are recent dispositions of properties:  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company conveyed </font><font style="font-family:inherit;font-size:10pt;">Great Northern Mall</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">895,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Clay</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New York</font><font style="font-family:inherit;font-size:10pt;">, to the mortgage lender by a deed-in-lieu of foreclosure and was discharged from the mortgage note payable. The loan was nonrecourse to the Company. As a result, the Company recognized a loss on the extinguishment of debt of </font><font style="font-family:inherit;font-size:10pt;">$1,627</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;19, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Panorama Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">312,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">community center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Panorama City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$98,000</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$73,726</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div><a name="sC283132EA1445FF8BE85BF4F900BC015"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">15.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has certain properties that are subject to non-cancelable operating ground leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. Ground lease rent expense was  </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,511</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,945</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">No</font><font style="font-family:inherit;font-size:10pt;">&#32;contingent rent was incurred during the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was contingently liable for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$61,002</font><font style="font-family:inherit;font-size:10pt;">&#32;in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreements. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$62,832</font><font style="font-family:inherit;font-size:10pt;">&#32;in outstanding obligations which it believes will be settled in the next twelve months.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21</font></div></div><hr style="page-break-after:always"><div><a name="s5EB6001FC59859098F2602FF13379AA0"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">16.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Related Party Transactions:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain unconsolidated joint ventures have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following are fees charged to unconsolidated joint ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:356px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:233px;"></td><td style="width:9px;"></td><td style="width:46px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:46px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,211</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development and leasing fees</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,961</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,892</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,914</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain mortgage notes on the properties are held by NML (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">8</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Mortgage Notes Payable</font><font style="font-family:inherit;font-size:10pt;">). Interest expense in connection with these notes was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,272</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,729</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Included in accounts payable and accrued expenses is interest payable on these notes of </font><font style="font-family:inherit;font-size:10pt;">$751</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$756</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Due from affiliates includes prepaid and/or unreimbursed costs and fees from unconsolidated joint ventures due to the Management Companies.  As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the amounts due (from) to the unconsolidated joint ventures was </font><font style="font-family:inherit;font-size:10pt;">$(2,865)</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$7,467</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, due from affiliates at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;included a note receivable from RED/303 LLC ("RED") that bears interest at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">5.25%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on May 30, 2016. Interest income earned on this note was </font><font style="font-family:inherit;font-size:10pt;">$117</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$137</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. The balance on this note was </font><font style="font-family:inherit;font-size:10pt;">$8,222</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$9,252</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. RED is considered a related party because it is a partner in a joint venture development project. The note is collateralized by RED's membership interest in a development agreement.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Also included in due from affiliates is a note receivable from </font><font style="font-family:inherit;font-size:10pt;">Lennar Corporation</font><font style="font-family:inherit;font-size:10pt;">&#32;that bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures upon the completion of certain milestones in connection with the development of </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of San Francisco</font><font style="font-family:inherit;font-size:10pt;">. Interest income earned on this note was </font><font style="font-family:inherit;font-size:10pt;">$521</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$433</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. The balance on this note was </font><font style="font-family:inherit;font-size:10pt;">$67,730</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$67,209</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font><font style="font-family:inherit;font-size:10pt;">Lennar Corporation</font><font style="font-family:inherit;font-size:10pt;">&#32;is considered a related party because it has an ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of San Francisco</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div><a name="s53CDB8EF8E0F5586831A2936E969326F"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">17.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share and Unit-Based Plans:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-unit for </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-share basis. LTIP Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include both market-indexed awards and service-based awards.  The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to the stockholders (the "Total Return") per common stock share relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;1, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company granted </font><font style="font-family:inherit;font-size:10pt;">58,786</font><font style="font-family:inherit;font-size:10pt;">&#32;LTIP Units with a grant date fair value of </font><font style="font-family:inherit;font-size:10pt;">$80.69</font><font style="font-family:inherit;font-size:10pt;">&#32;per LTIP Unit that will vest in equal annual installments over a service period ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. Concurrently, the Company granted </font><font style="font-family:inherit;font-size:10pt;">266,899</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">market-indexed</font><font style="font-family:inherit;font-size:10pt;">&#32;LTIP Units ("2016 LTIP Units") at a grant date fair value of </font><font style="font-family:inherit;font-size:10pt;">$53.32</font><font style="font-family:inherit;font-size:10pt;">&#32;per LTIP Unit that vest over a service period ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. The fair value of the 2016 LTIP Units was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of </font><font style="font-family:inherit;font-size:10pt;">1.32%</font><font style="font-family:inherit;font-size:10pt;">&#32;and an expected volatility of </font><font style="font-family:inherit;font-size:10pt;">20.31%</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">17.    Share and Unit-Based Plans: (Continued)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;4, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company granted </font><font style="font-family:inherit;font-size:10pt;">154,686</font><font style="font-family:inherit;font-size:10pt;">&#32;LTIP Units at a fair value of </font><font style="font-family:inherit;font-size:10pt;">$79.20</font><font style="font-family:inherit;font-size:10pt;">&#32;per LTIP Unit that were fully vested on the grant date. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following summarizes the compensation cost under the share and unit-based plans:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:443px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:320px;"></td><td style="width:8px;"></td><td style="width:46px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:45px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,399</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,228</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock awards</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock units</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,372</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock options</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phantom stock units</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">604</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">311</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,399</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,815</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company capitalized share and unit-based compensation costs of </font><font style="font-family:inherit;font-size:10pt;">$4,959</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$4,347</font><font style="font-family:inherit;font-size:10pt;">&#32;for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Unrecognized compensation costs of share and unit-based plans at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;consisted of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$17,955</font><font style="font-family:inherit;font-size:10pt;">&#32;from LTIP Units, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6,628</font><font style="font-family:inherit;font-size:10pt;">&#32;from stock units, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$23</font><font style="font-family:inherit;font-size:10pt;">&#32;from stock options and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$746</font><font style="font-family:inherit;font-size:10pt;">&#32;from phantom stock units.  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"><tr><td colspan="28"></td></tr><tr><td style="width:165px;"></td><td style="width:56px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:50px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:56px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:50px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:56px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:50px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:56px;"></td><td style="width:3px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:50px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Awards</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Phantom Stock Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Units</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56,315</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">73.24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">132,086</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">74.58</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">480,371</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">65.00</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14,534</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.42</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">85,045</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.24</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vested</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(154,686</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(5,237</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.83</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(67,703</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">71.64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Forfeited</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">382,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">60.47</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9,297</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">149,428</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">78.55</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average grant date fair value.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:634px;border-collapse:collapse;text-align:left;"><tr><td colspan="14"></td></tr><tr><td style="width:274px;"></td><td style="width:82px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:76px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:82px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:76px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">SARs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Options</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">417,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">55.13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,314</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">58.15</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Exercised</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(25,988</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">52.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Special dividend adjustment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,185</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">251</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">401,980</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,565</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average exercise price.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">23</font></div></div><hr style="page-break-after:always"><div><a name="s01BAEAF6209F5C22B3D1D8DBBC7AE079"></a></div><div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;text-decoration:underline;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;text-decoration:underline;">Table of Contents</font></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Dollars in thousands, except per share amounts)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">(Unaudited)</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">18.  Income Taxes:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made taxable REIT subsidiary elections for all of its corporate subsidiaries other than its Qualified REIT Subsidiaries. The elections, effective for the year beginning </font><font style="font-family:inherit;font-size:10pt;">January&#160;1, 2001</font><font style="font-family:inherit;font-size:10pt;">&#32;and future years, were made pursuant to Section&#160;856(l) of the Code. The Company's taxable REIT subsidiaries ("TRSs") are subject to corporate level income taxes which are provided for in the Company's consolidated financial statements. The Company's primary TRSs include Macerich Management Company and Macerich Arizona Partners&#160;LLC.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The income tax provision of the TRSs are as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:418px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:270px;"></td><td style="width:9px;"></td><td style="width:58px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:9px;"></td><td style="width:58px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax (expense) benefit </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The net operating loss carryforwards are currently scheduled to expire through </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2035</font><font style="font-family:inherit;font-size:10pt;">, beginning in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2024</font><font style="font-family:inherit;font-size:10pt;">. Net deferred tax assets of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$37,591</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$38,847</font><font style="font-family:inherit;font-size:10pt;">&#32;were included in deferred charges and other assets, net at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The tax years </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2011</font><font style="font-family:inherit;font-size:10pt;">&#32;through </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next twelve months.</font></div><div><a name="s38819DC6E9735B558765F557D3DDC268"></a></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">19.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Subsequent Events:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;13, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Capitola Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">586,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Capitola</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$93,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company completed an ASR and took delivery of an additional </font><font style="font-family:inherit;font-size:10pt;">861,235</font><font style="font-family:inherit;font-size:10pt;">&#32;shares.  Upon the completion of the ASR, the Company repurchased a total of </font><font style="font-family:inherit;font-size:10pt;">5,083,428</font><font style="font-family:inherit;font-size:10pt;">&#32;shares with an average price of </font><font style="font-family:inherit;font-size:10pt;">$78.69</font><font style="font-family:inherit;font-size:10pt;">&#32;per share (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;26, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company announced a dividend/distribution of </font><font style="font-family:inherit;font-size:10pt;">$0.68</font><font style="font-family:inherit;font-size:10pt;">&#32;per share for common stockholders and OP Unit holders of record on </font><font style="font-family:inherit;font-size:10pt;">May&#160;5, 2016</font><font style="font-family:inherit;font-size:10pt;">. All dividends/distributions will be paid 100% in cash on </font><font style="font-family:inherit;font-size:10pt;">June&#160;3, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24</font></div></div><hr style="page-break-after:always"><div><a name="s72E6E0B044ED5CFAACFDCA22D744524E"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Management's Discussion and Analysis of Financial Condition and Results of Operations</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">IMPORTANT INFORMATION RELATED TO FORWARD-LOOKING STATEMENTS</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">This Quarterly Report on Form&#160;10-Q of The Macerich Company (the "Company") contains or incorporates statements that constitute forward-looking statements within the meaning of the federal securities laws. Any statements that do not relate to historical or current facts or matters are forward-looking statements. You can identify some of the forward-looking statements by the use of forward-looking words, such as "may," "will," "could," "should," "expects," "anticipates," "intends," "projects," "predicts," "plans," "believes," "seeks," "estimates," "scheduled" and variations of these words and similar expressions. Statements concerning current conditions may also be forward-looking if they imply a continuation of current conditions. Forward-looking statements appear in a number of places in this Form&#160;10-Q and include statements regarding, among other matters:</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">expectations regarding the Company's growth;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's beliefs regarding its acquisition, redevelopment, development, leasing and operational activities and opportunities, including the performance of its retailers;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's acquisition, disposition and other strategies;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">regulatory matters pertaining to compliance with governmental regulations;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's capital expenditure plans and expectations for obtaining capital for expenditures;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's expectations regarding income tax benefits;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's expectations regarding its financial condition or results of operations; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Company's expectations for refinancing its indebtedness, entering into and servicing debt obligations and entering into joint venture arrangements.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stockholders are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company or the industry to differ materially from the Company's future results, performance or achievements, or those of the industry, expressed or implied in such forward-looking statements. Such factors include, among others, general industry, as well as national, regional and local economic and business conditions, which will, among other things, affect demand for retail space or retail goods, availability and creditworthiness of current and prospective tenants, anchor or tenant bankruptcies, closures, mergers or consolidations, lease rates, terms and payments, interest rate fluctuations, availability, terms and cost of financing and operating expenses; adverse changes in the real estate markets including, among other things, competition from other companies, retail formats and technology, risks of real estate development and redevelopment, acquisitions and dispositions; the liquidity of real estate investments, governmental actions and initiatives (including legislative and regulatory changes); environmental and safety requirements; and terrorist activities or other acts of violence which could adversely affect all of the above factors. You are urged to carefully review the disclosures we make concerning these risks and other factors that may affect our business and operating results, under "Item&#160;1A. Risk Factors" in our Annual Report on Form&#160;10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, as well as our other reports filed with the Securities and Exchange Commission (the "SEC"), which disclosures are incorporated herein by reference. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. The Company does not intend, and undertakes no obligation, to update any forward-looking information to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, unless required by law to do so.</font></div><div><a name="sD81458B215955754981C60F91FC7CFDF"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Management's Overview and Summary</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers located throughout the United States. The Company is the sole general partner of, and owns a majority of the ownership interests in, The Macerich Partnership, L.P. (the "Operating Partnership"). As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Operating Partnership owned or had an ownership interest in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">52</font><font style="font-family:inherit;font-size:10pt;">&#32;regional shopping centers and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">seven</font><font style="font-family:inherit;font-size:10pt;">&#32;community/power shopping centers aggregating approximately </font><font style="font-family:inherit;font-size:10pt;">56 million</font><font style="font-family:inherit;font-size:10pt;">&#32;square feet of gross leasable area. These </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">59</font><font style="font-family:inherit;font-size:10pt;">&#32;regional and community/power shopping centers are referred to hereinafter as the "Centers," unless the context otherwise requires. The Company is a self-administered and self-managed real estate investment trust ("REIT") and conducts all of its operations through the Operating Partnership and the Management Companies.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following discussion is based primarily on the consolidated financial statements of the Company for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">. It compares the results of operations and cash flows for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to the results of operations and cash flows for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. This information should be read in conjunction with the accompanying consolidated financial statements and notes thereto.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Acquisitions and Dispositions:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The financial statements reflect the following acquisitions, dispositions and changes in ownership subsequent to the occurrence of each transaction.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company acquired the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">867,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">San Bernardino</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, that it did not previously own for </font><font style="font-family:inherit;font-size:10pt;">$51.3 million</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$26.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of the third party's share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$25.0 million</font><font style="font-family:inherit;font-size:10pt;">. Concurrent with the purchase of the joint venture interest, the Company paid off the $50.0 million loan on the property. The cash payment was funded by borrowings under the Company's line of credit. As a result of the acquisition, the Company recognized a gain on the remeasurement of assets of </font><font style="font-family:inherit;font-size:10pt;">$22.1 million</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into a 50/50 joint venture with Sears to own </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;">&#32;freestanding stores located at </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Chandler Fashion Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Danbury Fair Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Freehold Raceway Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Vintage Faire Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">. The Company invested </font><font style="font-family:inherit;font-size:10pt;">$150.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;for a </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the joint venture, which was funded by borrowings under the Company's line of credit.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;">&#32;(the "PPR Portfolio"), which owns </font><font style="font-family:inherit;font-size:10pt;">Lakewood Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">2,075,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Lakewood</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,296,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Cerritos</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,127,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Lubbock</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Texas</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,442,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Portland</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Oregon</font><font style="font-family:inherit;font-size:10pt;">, for a total sales price of </font><font style="font-family:inherit;font-size:10pt;">$1.3 billion</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$311.2 million</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$545.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage notes payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$713.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes, which included funding the ASR and Special Dividend (See "Other Events and Transactions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;19, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Panorama Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">312,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">community center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Panorama City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$98.0 million</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$73.7 million</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,197,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot  </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Glendale</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">&#32;for </font><font style="font-family:inherit;font-size:10pt;">$289.5 million</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$104.3 million</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$129.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$160.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes, which included funding the Special Dividend (See "Other Events and Transactions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#32;On </font><font style="font-family:inherit;font-size:10pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company formed a joint venture, whereby the Company sold a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,040,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Deptford</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New Jersey</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">FlatIron Crossing</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,432,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Broomfield</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Twenty Ninth Street</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">852,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Boulder</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;">&#32;(the "</font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">"), for </font><font style="font-family:inherit;font-size:10pt;">$771.5 million</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$340.7 million</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$478.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and the assumption of a pro rata share of the mortgage note payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$292.9 million</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The sale of ownership interests in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;are collectively referred to herein as the Joint Venture Transactions.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company through a 50/50 joint venture, acquired </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,300,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Kansas City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Missouri</font><font style="font-family:inherit;font-size:10pt;">&#32;for a total purchase price of </font><font style="font-family:inherit;font-size:10pt;">$660.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company funded its pro rata share of </font><font style="font-family:inherit;font-size:10pt;">$330.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;with borrowings under its line of credit. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;13, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Capitola Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">586,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Capitola</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$93.0 million</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes. Consequently, </font><font style="font-family:inherit;font-size:10pt;">Capitola Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;has been excluded from certain 2016 performance metrics and related discussions, including tenant sales per square foot, occupancy rates and releasing spreads (See "Results of Operations").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financing Activity:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company&#8217;s joint venture in </font><font style="font-family:inherit;font-size:10pt;">The Market at Estrella Falls</font><font style="font-family:inherit;font-size:10pt;">&#32;replaced the existing loan on the property with a new </font><font style="font-family:inherit;font-size:10pt;">$26.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan that bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">1.70%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">February&#160;5, 2020</font><font style="font-family:inherit;font-size:10pt;">, including the exercise of a one-year extension option. </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;19, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company placed a </font><font style="font-family:inherit;font-size:10pt;">$280.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on </font><font style="font-family:inherit;font-size:10pt;">Vintage Faire Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">3.55%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">March&#160;6, 2026</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;2, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company paid off in full the loan on </font><font style="font-family:inherit;font-size:10pt;">Lakewood Center</font><font style="font-family:inherit;font-size:10pt;">, which resulted in gain of $2.2 million on the early extinguishment of debt as a result of writing off the related debt premium. On </font><font style="font-family:inherit;font-size:10pt;">May&#160;12, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company placed a new </font><font style="font-family:inherit;font-size:10pt;">$410.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on the property that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">4.15%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on June&#160;1, 2026. On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;3, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company amended the loan on </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;">. The amended </font><font style="font-family:inherit;font-size:10pt;">$200.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan bears interest at </font><font style="font-family:inherit;font-size:10pt;">LIBOR</font><font style="font-family:inherit;font-size:10pt;">&#32;plus </font><font style="font-family:inherit;font-size:10pt;">1.50%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2020</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 5, 2015, the Company paid off in full the existing loan on </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">. On </font><font style="font-family:inherit;font-size:10pt;">October&#160;29, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company placed a new </font><font style="font-family:inherit;font-size:10pt;">$550.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on the property that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">3.65%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2022</font><font style="font-family:inherit;font-size:10pt;">. On October 30, 2015, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;23, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company placed a </font><font style="font-family:inherit;font-size:10pt;">$200.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">4.22%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">November&#160;6, 2025</font><font style="font-family:inherit;font-size:10pt;">. On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;28, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company's joint venture in </font><font style="font-family:inherit;font-size:10pt;">The Shops at Atlas Park</font><font style="font-family:inherit;font-size:10pt;">&#32;placed a </font><font style="font-family:inherit;font-size:10pt;">$57.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on the property that bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">2.25%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">October&#160;22, 2020</font><font style="font-family:inherit;font-size:10pt;">, including two one-year extension options.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company replaced the existing loan on </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">&#32;with a new </font><font style="font-family:inherit;font-size:10pt;">$525.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">4.00%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2027</font><font style="font-family:inherit;font-size:10pt;">, which resulted in a loss of </font><font style="font-family:inherit;font-size:10pt;">$0.9 million</font><font style="font-family:inherit;font-size:10pt;">&#32;on the early extinguishment of debt. Concurrently, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company obtained a </font><font style="font-family:inherit;font-size:10pt;">$100.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;term loan ("PPR Term Loan") that bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">1.20%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">October&#160;31, 2022</font><font style="font-family:inherit;font-size:10pt;">. Concurrently, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company replaced the existing loan on </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;with a new </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">4.05%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">February&#160;1, 2028</font><font style="font-family:inherit;font-size:10pt;">, which resulted in a loss of </font><font style="font-family:inherit;font-size:10pt;">$3.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;on the early extinguishment of debt. Concurrently, a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the underlying property (See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company placed a </font><font style="font-family:inherit;font-size:10pt;">$150.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on </font><font style="font-family:inherit;font-size:10pt;">Twenty Ninth Street</font><font style="font-family:inherit;font-size:10pt;">&#32;that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">4.10%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">February&#160;6, 2026</font><font style="font-family:inherit;font-size:10pt;">. Concurrently, a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;">&#32;interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;28, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company's joint venture in </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">&#32;placed a </font><font style="font-family:inherit;font-size:10pt;">$320.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;loan on the property that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">3.88%</font><font style="font-family:inherit;font-size:10pt;">&#32;and matures on </font><font style="font-family:inherit;font-size:10pt;">April&#160;1, 2026</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Redevelopment and Development Activities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In </font><font style="font-family:inherit;font-size:10pt;">February 2014</font><font style="font-family:inherit;font-size:10pt;">, the Company's joint venture in </font><font style="font-family:inherit;font-size:10pt;">Broadway Plaza</font><font style="font-family:inherit;font-size:10pt;">&#32;started construction on the </font><font style="font-family:inherit;font-size:10pt;">235,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot expansion of the </font><font style="font-family:inherit;font-size:10pt;">761,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Walnut Creek</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">. The joint venture completed a portion of the first phase of the project in </font><font style="font-family:inherit;font-size:10pt;">November 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;and expects the remaining portion of the first phase to be completed in the second quarter of 2016. The second phase will be completed through Summer 2018. The total cost of the project is estimated to be </font><font style="font-family:inherit;font-size:10pt;">$305.0 million</font><font style="font-family:inherit;font-size:10pt;">, with </font><font style="font-family:inherit;font-size:10pt;">$152.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;estimated to be the Company's pro rata share. The Company has funded </font><font style="font-family:inherit;font-size:10pt;">$105.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;of the total </font><font style="font-family:inherit;font-size:10pt;">$211.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;incurred by the joint venture as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company is currently expanding </font><font style="font-family:inherit;font-size:10pt;">Green Acres Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,799,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot regional center in </font><font style="font-family:inherit;font-size:10pt;">Valley Stream</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New York</font><font style="font-family:inherit;font-size:10pt;">&#32;to include a 335,000 square foot power center. The project started in </font><font style="font-family:inherit;font-size:10pt;">July 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;and is expected to be completed in late 2016.  As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company has incurred </font><font style="font-family:inherit;font-size:10pt;">$63.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in costs and estimates the total cost of the project to be approximately </font><font style="font-family:inherit;font-size:10pt;">$110.0 million</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's joint venture is proceeding with the development of </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Philadelphia</font><font style="font-family:inherit;font-size:10pt;">, a redevelopment of the </font><font style="font-family:inherit;font-size:10pt;">850,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot shopping center in </font><font style="font-family:inherit;font-size:10pt;">Philadelphia</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Pennsylvania</font><font style="font-family:inherit;font-size:10pt;">. The project is expected to be completed in 2018. The total cost of the project is estimated to be between </font><font style="font-family:inherit;font-size:10pt;">$305.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$365.0 million</font><font style="font-family:inherit;font-size:10pt;">, with </font><font style="font-family:inherit;font-size:10pt;">$152.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">$182.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;estimated to be the Company's pro rata share. The Company has funded </font><font style="font-family:inherit;font-size:10pt;">$33.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;of the total </font><font style="font-family:inherit;font-size:10pt;">$66.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;incurred by the joint venture as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Other Transactions and Events:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 9, 2015, the Company received an unsolicited, conditional proposal from Simon Property Group, Inc. (&#8220;Simon&#8221;) to acquire the Company.&#160;The Company&#8217;s Board of Directors, after consulting with its financial, real estate and legal advisors, unanimously determined that the Simon proposal substantially undervalued the Company and was not in the best interests of the Company and its stockholders.&#160;On March 20, 2015, the Company received a revised, unsolicited proposal to acquire the Company from Simon, which Simon described as its best and final proposal. The Company&#8217;s Board of Directors carefully reviewed the revised proposal with the assistance of its financial, real estate and legal advisors, and determined that the revised proposal continued to substantially undervalue the Company and that pursuing the proposed transaction at that time was not in the best interests of the Company and its stockholders.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company conveyed </font><font style="font-family:inherit;font-size:10pt;">Great Northern Mall</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">895,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Clay</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New York</font><font style="font-family:inherit;font-size:10pt;">, to the mortgage lender by a deed-in-lieu of foreclosure and was discharged from the mortgage note payable. The mortgage note payable was a non-recourse loan. As a result, the Company recognized a loss of </font><font style="font-family:inherit;font-size:10pt;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;on the extinguishment of debt. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company's Board of Directors authorized the repurchase of up to </font><font style="font-family:inherit;font-size:10pt;">$1.2 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's outstanding common shares over the period ending </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;">, as market conditions warrant. On </font><font style="font-family:inherit;font-size:10pt;">November&#160;12, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an accelerated share repurchase program ("ASR") to repurchase </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,140,788</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. On </font><font style="font-family:inherit;font-size:10pt;">January&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">970,609</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,111,397</font><font style="font-family:inherit;font-size:10pt;">&#32;shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.26</font><font style="font-family:inherit;font-size:10pt;">&#32;per share. The ASR was funded from proceeds in connection with the financing and sale of the ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" and "Financing Activity").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 30, 2015, the Company declared two special dividends/distributions ("Special Dividend"), each of $2.00 per share of common stock and per OP Unit.&#160;The first Special Dividend was paid on December 8, 2015 to stockholders and OP Unit holders of record on November 12, 2015.&#160; The second Special Dividend was paid on January 6, 2016 to common stockholders and OP Unit holders of record on November 12, 2015. The Special Dividends were funded from proceeds in connection with the financing and sale of ownership interests in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" and "Financing Activity").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:10pt;">, the mortgage note payable on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">347,000</font><font style="font-family:inherit;font-size:10pt;">&#32;square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">Flagstaff</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">, went into maturity default. The mortgage note payable is a non-recourse loan. The Company is negotiating with the loan servicer, which will likely result in a transition of </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;to the loan servicer or a receiver. Consequently, </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;has been excluded from certain 2015 and 2016 performance metrics and related discussions, including tenant sales per square foot, occupancy rates and releasing spreads (See "Results of Operations").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an ASR to repurchase </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,222,193</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. On </font><font style="font-family:inherit;font-size:10pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">861,235</font><font style="font-family:inherit;font-size:10pt;">&#32;shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,083,428</font><font style="font-family:inherit;font-size:10pt;">&#32;shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.69</font><font style="font-family:inherit;font-size:10pt;">&#32;per share. The ASR was funded from borrowings under the Company's line of credit, which had been recently paid down from the proceeds from the recently completed Joint Venture Transactions (See "Acquisitions and Dispositions" and "Financing Activity").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Inflation:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In the last five years, inflation has not had a significant impact on the Company because of a relatively low inflation rate. Most of the leases at the Centers have rent adjustments periodically throughout the lease term. These rent increases are either in fixed increments or based on using an annual multiple of increases in the Consumer Price Index ("CPI"). In addition, approximately 6% to 13% of the leases for spaces 10,000 square feet and under expire each year, which enables the Company to replace existing leases with new leases at higher base rents if the rents of the existing leases are below the then existing market rate. The Company has generally entered into leases that require tenants to pay a stated amount for operating expenses, generally excluding property taxes, regardless of the expenses actually incurred at any Center, which places the burden of cost control on the Company. Additionally, certain leases require the tenants to pay their pro rata share of operating expenses.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Seasonality:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The shopping center industry is seasonal in nature, particularly in the fourth quarter during the holiday season when retailer occupancy and retail sales are typically at their highest levels. In addition, shopping malls achieve a substantial portion of their specialty (temporary retailer) rents during the holiday season and the majority of percentage rent is recognized in the fourth quarter. As a result of the above, earnings are generally higher in the fourth quarter.</font></div><div><a name="sA8F9856433015FAA84AC4B20317C969E"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Critical Accounting Policies</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with generally accepted accounting principles ("GAAP") in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Some of these estimates and assumptions include judgments on revenue recognition, estimates for common area maintenance and real estate tax accruals, provisions for uncollectible accounts, impairment of long-lived assets, the allocation of purchase price between tangible and intangible assets, capitalization of costs and fair value measurements. The Company's significant accounting policies are described in more detail in Note&#160;2&#8212;Summary of Significant Accounting Policies in the Company's Notes to the Consolidated Financial Statements. However, the following policies are deemed to be critical.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rental revenues are recognized on a straight-line basis over the term of the related lease. The difference between the amount of rent due in a year and the amount recorded as rental income is referred to as the "straight line rent adjustment." Currently, </font><font style="font-family:inherit;font-size:10pt;">65%</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Mall Store and Freestanding Store leases contain provisions for CPI rent increases periodically throughout the term of the lease. The Company believes that using an annual multiple of CPI increases, rather than fixed contractual rent increases, results in revenue recognition that more closely matches the cash revenue from each lease and will provide more consistent rent growth throughout the term of the leases. Percentage rents are recognized when the tenants' specified sales targets have been met. Estimated recoveries from certain tenants for their pro rata share of real estate taxes, insurance and other shopping center operating expenses are recognized as revenues in the period the applicable expenses are incurred. Other tenants pay a fixed rate and these tenant recoveries are recognized as revenues on a straight-line basis over the term of the related leases.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Property:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Maintenance and repair expenses are charged to operations as incurred. Costs for major replacements and betterments, which includes HVAC equipment, roofs, parking lots, etc., are capitalized and depreciated over their estimated useful lives. Gains and losses are recognized upon disposal or retirement of the related assets and are reflected in earnings.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.2265625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:85%;"></td><td style="width:15%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5&#160;-&#160;40&#160;years</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant improvements</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5&#160;-&#160;7&#160;years</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equipment and furnishings</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5&#160;-&#160;7&#160;years</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Capitalization of Costs:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company capitalizes costs incurred in redevelopment, development, renovation and improvement of properties. The capitalized costs include pre-construction costs essential to the development of the property, development costs, construction costs, interest costs, real estate taxes, salaries and related costs and other costs incurred during the period of development. These capitalized costs include direct and certain indirect costs clearly associated with the project. Indirect costs include real estate taxes, insurance and certain shared administrative costs. In assessing the amounts of direct and indirect costs to be capitalized, allocations are made to projects based on estimates of the actual amount of time spent on each activity. Indirect costs not clearly associated with specific projects are expensed as period costs. Capitalized indirect costs are allocated to development and redevelopment activities based on the square footage of the portion of the building not held available for immediate occupancy. If costs and activities incurred to ready the vacant space cease, then cost capitalization is also discontinued until such activities are resumed. Once work has been completed on a vacant space, project costs are no longer capitalized. For projects with extended lease-up periods, the Company ends the capitalization when significant activities have </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">ceased, which does not exceed the shorter of a one-year period after the completion of the building shell or when the construction is substantially complete.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Acquisitions:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company allocates the estimated fair value of acquisitions to land, building, tenant improvements and identified intangible assets and liabilities, based on their estimated fair values. In addition, any assumed mortgage notes payable are recorded at their estimated fair values. The estimated fair value of the land and buildings is determined utilizing an &#8220;as if vacant&#8221; methodology. Tenant improvements represent the tangible assets associated with the existing leases valued on a fair value basis at the acquisition date prorated over the remaining lease terms. The tenant improvements are classified as an asset under property and are depreciated over the remaining lease terms. Identifiable intangible assets and liabilities relate to the value of in-place operating leases which come in three forms: (i)&#160;leasing commissions and legal costs, which represent the value associated with &#8220;cost avoidance&#8221; of acquiring in-place leases, such as lease commissions paid under terms generally experienced in the Company's markets; (ii)&#160;value of in-place leases, which represents the estimated loss of revenue and of costs incurred for the period required to lease the &#8220;assumed vacant&#8221; property to the occupancy level when purchased; and (iii)&#160;above or below-market value of in-place leases, which represents the difference between the contractual rents and market rents at the time of the acquisition, discounted for tenant credit risks. Leasing commissions and legal costs are recorded in deferred charges and other assets and are amortized over the remaining lease terms. The value of in-place leases are recorded in deferred charges and other assets and amortized over the remaining lease terms plus any below-market fixed rate renewal options. Above or below-market leases are classified in deferred charges and other assets or in other accrued liabilities, depending on whether the contractual terms are above or below-market, and the asset or liability is amortized to minimum rents over the remaining terms of the leases. The remaining lease terms of below-market leases may include certain below-market fixed-rate renewal periods. In considering whether or not a lessee will execute a below-market fixed-rate lease renewal option, the Company evaluates economic factors and certain qualitative factors at the time of acquisition such as tenant mix in the Center, the Company's relationship with the tenant and the availability of competing tenant space. The initial allocation of purchase price is based on management's preliminary assessment, which may change when final information becomes available. Subsequent adjustments made to the initial purchase price allocation are made within the allocation period, which does not exceed one year. The purchase price allocation is described as preliminary if it is not yet final. The use of different assumptions in the allocation of the purchase price of the acquired assets and liabilities assumed could affect the timing of recognition of the related revenues and expenses.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company immediately expenses costs associated with business combinations as period costs.  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Remeasurement gains are recognized when the Company obtains control of an existing equity method investment to the extent that the fair value of the existing equity investment exceeds the carrying value of the investment.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Asset Impairment:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company assesses whether an indicator of impairment in the value of its properties exists by considering expected future operating income, trends and prospects, as well as the effects of demand, competition and other economic factors. Such factors include projected rental revenue, operating costs and capital expenditures as well as estimated holding periods and capitalization rates. If an impairment indicator exists, the determination of recoverability is made based upon the estimated undiscounted future net cash flows, excluding interest expense. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flows analysis, with the carrying value of the related assets. The Company generally holds and operates its properties long-term, which decreases the likelihood of their carrying values not being recoverable. Properties classified as held for sale are measured at the lower of the carrying amount or fair value less cost to sell.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company reviews its investments in unconsolidated joint ventures for a series of operating losses and other factors that may indicate that a decrease in the value of its investments has occurred which is other-than-temporary. The investment in each unconsolidated joint venture is evaluated periodically, and as deemed necessary, for recoverability and valuation declines that are other-than-temporary.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value of Financial Instruments:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value hierarchy distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity and the reporting entity's own assumptions about market participant assumptions.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Level&#160;1 inputs utilize quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Level&#160;2 inputs are inputs other than quoted prices included in Level&#160;1 that are observable for the asset or liability, either directly or indirectly. Level&#160;2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates and </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">yield curves that are observable at commonly quoted intervals. Level&#160;3 inputs are unobservable inputs for the asset or liability, which is typically based on an entity's own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company calculates the fair value of financial instruments and includes this additional information in the notes to consolidated financial statements when the fair value is different than the carrying value of those financial instruments. When the fair value reasonably approximates the carrying value, no additional disclosure is made.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Deferred Charges:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Costs relating to obtaining tenant leases are deferred and amortized over the initial term of the agreement using the straight-line method. As these deferred leasing costs represent productive assets incurred in connection with the Company's provision of leasing arrangements at the Centers, the related cash flows are classified as investing activities within the Company's consolidated statements of cash flows. Costs relating to financing of shopping center properties are deferred and amortized over the life of the related loan using the straight-line method, which approximates the effective interest method. The ranges of the terms of the agreements are as follows:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.2265625%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:85%;"></td><td style="width:15%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred lease costs</font></div></td><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1&#160;-&#160;15&#160;years</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred financing costs</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1&#160;-&#160;15&#160;years</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="sA3947C9EC86C59A885840A2560F6395A"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Results of Operations</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Many of the variations in the results of operations, discussed below, occurred because of the transactions affecting the Company's properties described in Management's Overview and Summary above, including the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;and the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;(as defined below). </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For purposes of the discussion below, the Company defines "</font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">" as those Centers that are substantially complete and in operation for the entirety of both periods of the comparison. Non-Same Centers for comparison purposes include those Centers or properties that are going through a substantial redevelopment often resulting in the closing of a portion of the Center (&#8220;</font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">&#8221;), those properties that have recently transitioned to or from equity method joint ventures to consolidated assets ("</font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">") and properties that have been disposed of ("</font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">"). The Company moves a Center in and out of </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;based on whether the Center is substantially complete and in operation for the entirety of both periods of the comparison. Accordingly, the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;consist of all consolidated Centers, excluding the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;and the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;for the periods of comparison.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the comparison of the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;are </font><font style="font-family:inherit;font-size:10pt;">Paradise Valley Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Westside Pavilion</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For the comparison of the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;are </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;and the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">. The change in revenues and expenses at the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;for the comparison of the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;is primarily due to the conversion of the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;and the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;from consolidated Centers to unconsolidated joint ventures.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">For comparison of the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;to the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;are </font><font style="font-family:inherit;font-size:10pt;">Panorama Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Great Northern Mall</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Unconsolidated joint ventures are reflected using the equity method of accounting. The Company's pro rata share of the results from these Centers is reflected in the Consolidated Statements of Operations as equity in income of unconsolidated joint ventures.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company considers tenant annual sales per square foot (for tenants in place for a minimum of twelve&#160;months or longer and 10,000 square feet and under) for regional shopping centers, occupancy rates (excluding large retail stores or "Anchors") for the Centers and releasing spreads (i.e.&#160;a comparison of initial average base rent per square foot on leases executed during the trailing twelve months to average base rent per square foot at expiration for the leases expiring during the </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">trailing twelve months based on the spaces 10,000 square feet and under) to be key performance indicators of the Company's internal growth.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant sales per square foot increased from </font><font style="font-family:inherit;font-size:10pt;">$607</font><font style="font-family:inherit;font-size:10pt;">&#32;for the twelve months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">$625</font><font style="font-family:inherit;font-size:10pt;">&#32;for the twelve months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">. Occupancy rate decreased from </font><font style="font-family:inherit;font-size:10pt;">95.4%</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">95.1%</font><font style="font-family:inherit;font-size:10pt;">&#32;at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">. Releasing spreads increased </font><font style="font-family:inherit;font-size:10pt;">15.4%</font><font style="font-family:inherit;font-size:10pt;">&#32;for the twelve months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">. These calculations exclude Centers under development or redevelopment and property dispositions (See "Acquisitions and Dispositions" and "Other Transactions and Events" in Management's Overview and Summary). As discussed above, </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">Capitola Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;were excluded for the twelve months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" and "Other Transactions and Events" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Releasing spreads remained positive as the Company was able to lease available space at higher average rents than the expiring rental rates, resulting in a releasing spread of </font><font style="font-family:inherit;font-size:10pt;">$7.68</font><font style="font-family:inherit;font-size:10pt;">&#32;per square foot (</font><font style="font-family:inherit;font-size:10pt;">$57.44</font><font style="font-family:inherit;font-size:10pt;">&#32;on new and renewal leases executed compared to </font><font style="font-family:inherit;font-size:10pt;">$49.76</font><font style="font-family:inherit;font-size:10pt;">&#32;on leases expiring), representing a </font><font style="font-family:inherit;font-size:10pt;">15.4%</font><font style="font-family:inherit;font-size:10pt;">&#32;increase for the trailing twelve months ended </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">. The Company expects that releasing spreads will continue to be positive for the remainder of 2016 as it renews or relets leases that are scheduled to expire. These leases that are scheduled to expire represent </font><font style="font-family:inherit;font-size:10pt;">0.9 million</font><font style="font-family:inherit;font-size:10pt;">&#32;square feet of the Centers, accounting for </font><font style="font-family:inherit;font-size:10pt;">10.3%</font><font style="font-family:inherit;font-size:10pt;">&#32;of the gross leasable area ("GLA") of Mall Stores and Freestanding Stores, for spaces 10,000 square feet and under, as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">During the trailing twelve months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company signed </font><font style="font-family:inherit;font-size:10pt;">351</font><font style="font-family:inherit;font-size:10pt;">&#32;new leases and </font><font style="font-family:inherit;font-size:10pt;">370</font><font style="font-family:inherit;font-size:10pt;">&#32;renewal leases comprising approximately </font><font style="font-family:inherit;font-size:10pt;">1.2 million</font><font style="font-family:inherit;font-size:10pt;">&#32;square feet of GLA, of which </font><font style="font-family:inherit;font-size:10pt;">1.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;square feet related to the consolidated Centers. The annual initial average base rent for new and renewal leases was </font><font style="font-family:inherit;font-size:10pt;">$57.44</font><font style="font-family:inherit;font-size:10pt;">&#32;per square foot for the trailing twelve months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;with an average tenant allowance of </font><font style="font-family:inherit;font-size:10pt;">$15.40</font><font style="font-family:inherit;font-size:10pt;">&#32;per square foot.</font></div><div><a name="s64ABC1EA0820568EBAC7C44A21FC3934"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Comparison of </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Three Months Ended</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenues:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum and percentage rents (collectively referred to as "rental revenue") </font><font style="font-family:inherit;font-size:10pt;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;by </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$39.9 million</font><font style="font-family:inherit;font-size:10pt;">, or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">20.6%</font><font style="font-family:inherit;font-size:10pt;">, from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The decrease in rental revenue is attributed to a decrease of </font><font style="font-family:inherit;font-size:10pt;">$46.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;and  </font><font style="font-family:inherit;font-size:10pt;">$2.9 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;offset in part by an increase of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$9.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">. Rental revenue includes the amortization of above and below-market leases, the amortization of straight-line rents and lease termination income. The amortization of above and below-market leases </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The amortization of straight-line rents </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">$0.9 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. Lease termination income </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$25.5 million</font><font style="font-family:inherit;font-size:10pt;">, or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">24.1%</font><font style="font-family:inherit;font-size:10pt;">, from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. This decrease in tenant recoveries is attributed to a decrease of </font><font style="font-family:inherit;font-size:10pt;">$22.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$0.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$0.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management Companies' revenue </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">$5.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">$8.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase in Management Companies' revenue is primarily due to an increase in management fees as a result of the conversion from consolidated Centers to unconsolidated joint ventures of the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 and the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Shopping Center and Operating Expenses:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">$22.3 million</font><font style="font-family:inherit;font-size:10pt;">, or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">22.0%</font><font style="font-family:inherit;font-size:10pt;">, from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The decrease in shopping center and operating expenses is attributed to a decrease of </font><font style="font-family:inherit;font-size:10pt;">$18.2 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$2.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$1.2 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$0.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:26px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Management Companies' Operating Expenses:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management Companies' operating expenses </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">$1.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">&#32;due to an increase in share and unit-based compensation costs.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:26px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">REIT General and Administrative Expenses:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">REIT general and administrative expenses </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;by </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.2 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Costs related to Unsolicited Takeover Offer:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company incurred </font><font style="font-family:inherit;font-size:10pt;">$13.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in costs in 2015 related to evaluating and responding to an unsolicited takeover offer (See "Other Transactions and Events" in Management's Overview and Summary) with no related expense in 2016.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Depreciation and Amortization:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$33.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The decrease in depreciation and amortization is attributed to a decrease of </font><font style="font-family:inherit;font-size:10pt;">$32.2 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the Same Centers.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Interest Expense:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$13.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. The decrease in interest expense was primarily attributed to decreases of </font><font style="font-family:inherit;font-size:10pt;">$7.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Joint Venture Centers</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$2.9 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$1.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Redevelopment Properties</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$0.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the </font><font style="font-family:inherit;font-size:10pt;">Disposition Properties</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from borrowings under the Company's line of credit and </font><font style="font-family:inherit;font-size:10pt;">$0.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from the term loan. The decrease in interest expense at the </font><font style="font-family:inherit;font-size:10pt;">Same Centers</font><font style="font-family:inherit;font-size:10pt;">&#32;is primarily due to the payoff of the mortgage note payable on </font><font style="font-family:inherit;font-size:10pt;">Eastland Mall</font><font style="font-family:inherit;font-size:10pt;">&#32;in December 2015.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The above interest expense items are net of capitalized interest, which </font><font style="font-family:inherit;font-size:10pt;">decreased</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.6 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">$2.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Equity in Income of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equity in income of unconsolidated joint ventures </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">$3.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase is primarily due to the opening of the Tysons Hyatt Regency and Tysons residential tower in 2015, the acquisition of the ownership interest in the Sears joint venture in 2015 and the acquisition of the ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Gain on Sale or Write Down of Assets, net:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on sale or write down of assets, net increased </font><font style="font-family:inherit;font-size:10pt;">$433.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase in gain on sale or write down of assets, net is primarily attributed to the gain on the sale of a 49% interest in the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;of </font><font style="font-family:inherit;font-size:10pt;">$340.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 and the gain on the sale of a 40% interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;of </font><font style="font-family:inherit;font-size:10pt;">$104.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 (See "Acquisitions and Dispositions" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Gain on Remeasurement of Assets:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The gain on remeasurement of assets of </font><font style="font-family:inherit;font-size:10pt;">$22.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2015 is attributed to the purchase of the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;">&#32;ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">&#32;that the Company did not previously own (See "Acquisitions and Dispositions" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Net Income:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">$424.7 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase is primarily attributed to the increase in gain on sale or write down of assets of </font><font style="font-family:inherit;font-size:10pt;">$433.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;offset in part by the decrease in remeasurement gain of </font><font style="font-family:inherit;font-size:10pt;">$22.1 million</font><font style="font-family:inherit;font-size:10pt;">, as discussed above.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Funds From Operations ("FFO"):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Primarily as a result of the factors mentioned above, FFO attributable to common stockholders and unit holders&#8212;diluted </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">5.6%</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$133.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$141.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. For a reconciliation of FFO attributable to common stockholders and unit holders and FFO attributable to common stockholders and unit holders&#8212;diluted to net income attributable to the Company, the most directly comparable GAAP financial measure, see "Funds From Operations ("FFO")" below.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Operating Activities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash provided by operating activities decreased from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$162.1 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$107.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The decrease is primarily due to the conversion from consolidated Centers to unconsolidated joint ventures of the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 and the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Acquisitions and Dispositions" in Management's Overview and Summary), changes in assets and liabilities and the results as discussed above.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">33</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Investing Activities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash provided by investing activities </font><font style="font-family:inherit;font-size:10pt;">increased</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">$508.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase in cash used in investing activities is primarily attributed to an increase in cash proceeds from the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$599.2 million</font><font style="font-family:inherit;font-size:10pt;">, an increase in distributions from unconsolidated joint ventures of </font><font style="font-family:inherit;font-size:10pt;">$168.8 million</font><font style="font-family:inherit;font-size:10pt;">, a decrease in redevelopment and renovations of </font><font style="font-family:inherit;font-size:10pt;">$29.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and a decrease in the acquisitions of property of </font><font style="font-family:inherit;font-size:10pt;">$26.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;offset in part by an increase in contributions to unconsolidated joint ventures of </font><font style="font-family:inherit;font-size:10pt;">$317.4 million</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The increase in cash proceeds from the sale of assets is attributed to the sales of ownership interests in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 and the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 (See "Acquisitions and Dispositions" in Management's Overview and Summary). The increase in contributions to unconsolidated joint ventures is primarily due to the acquisition of the 50% ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 (See "Acquisitions and Dispositions" in Management's Overview and Summary). The increase in distributions from unconsolidated joint ventures is primarily due to the receipt of the Company's share of the proceeds from the loan placed on </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">&#32;in 2016 (See "Financing Activity" in Management's Overview and Summary).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Financing Activities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash used in financing activities increased </font><font style="font-family:inherit;font-size:10pt;">$467.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;from </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2016</font><font style="font-family:inherit;font-size:10pt;">. The increase in cash used in financing activities is primarily due to an increase in payments on mortgages, bank and other notes payable of </font><font style="font-family:inherit;font-size:10pt;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;">, the repurchase of the Company's common stock of </font><font style="font-family:inherit;font-size:10pt;">$400.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;(See "Other Transactions" in Management's Overview and Summary) and an increase in cash dividends and distributions of </font><font style="font-family:inherit;font-size:10pt;">$340.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;offset in part by an increase in proceeds from mortgages, bank and other notes payable of </font><font style="font-family:inherit;font-size:10pt;">$1.3 billion</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div><a name="s98B9A82419055D9BAA571EF9B36A6B3F"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Liquidity and Capital Resources</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company anticipates meeting its liquidity needs for its operating expenses, debt service and dividend requirements for the next twelve months through cash generated from operations, working capital reserves and/or borrowings under its unsecured line of credit. The following tables summarize capital expenditures incurred at the Centers:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:525px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:380px;"></td><td style="width:8px;"></td><td style="width:57px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:57px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">(Dollars in thousands)</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Consolidated Centers:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquisitions of property and equipment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,311</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,105</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development, redevelopment, expansion and renovation of Centers</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,693</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">36,073</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant allowances</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,292</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,715</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred leasing charges</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,173</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,852</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,469</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78,745</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Joint Venture Centers (at Company's pro rata share):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Acquisitions of property and equipment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">330,824</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">647</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development, redevelopment, expansion and renovation of Centers</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,143</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,812</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant allowances</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,864</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">626</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred leasing charges</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,876</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">786</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">359,707</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27,871</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company expects amounts to be incurred during the next twelve months for tenant allowances and deferred leasing charges to be comparable or less than 2015 and that capital for those expenditures will be available from working capital, cash flow from operations, borrowings on property specific debt or unsecured corporate borrowings. The Company expects to incur between $300&#160;million and $400&#160;million during the next twelve months for development, redevelopment, expansion and renovations. Capital for these major expenditures, developments and/or redevelopments has been, and is expected to continue to be, obtained from a combination of debt or equity financings, which are expected to include borrowings under the Company's line of credit and construction loans. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has also generated liquidity in the past through equity offerings and issuances, property refinancings, joint venture transactions and the sale of non-core assets. For example, the Company recently completed the Joint Venture Transactions to which the Company sold ownership interests in eight properties with total cash proceeds to the Company of </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">34</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">approximately $2.3 billion (See "Acquisitions and Dispositions" in Management's Overview and Summary), which included new debt or refinancings of existing debt on these properties with excess financing proceeds of approximately $1.1 billion (See "Financing Activity" in Management's Overview and Summary). The Company used these proceeds to pay down its line of credit, fund the Special Dividend (See "Other Transactions and Events" in Management's Overview and Summary) and for other general corporate purposes, which included the  repurchases of the Company's common stock under the recently authorized stock buyback program (See "Other Transactions and Events" in Management's Overview and Summary). Furthermore, the Company has filed a shelf registration statement, which registered an unspecified amount of common stock, preferred stock, depositary shares, debt securities, warrants, rights, stock purchase contracts and units that may be sold from time to time by the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The capital and credit markets can fluctuate and, at times, limit access to debt and equity financing for companies. As demonstrated by the Company's recent activity as discussed below and its $1.5&#160;billion line of credit, the Company has been able to access capital; however, there is no assurance the Company will be able to do so in future periods or on similar terms and conditions. Many factors impact the Company's ability to access capital, such as its overall debt level, interest rates, interest coverage ratios and prevailing market conditions. In the event that the Company has significant tenant defaults as a result of the overall economy and general market conditions, the Company could have a decrease in cash flow from operations, which could result in increased borrowings under its line of credit. These events could result in an increase in the Company's proportion of floating rate debt, which would cause it to be subject to interest rate fluctuations in the future.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has an equity distribution agreement with a number of sales agents (the "ATM Program") to issue and sell, from time to time, shares of common stock, par value $0.01 per share, having an aggregate offering price of up to </font><font style="font-family:inherit;font-size:10pt;">$500 million</font><font style="font-family:inherit;font-size:10pt;">&#32;(the &#8220;ATM Shares&#8221;). Sales of the ATM Shares can be made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an &#8220;at the market&#8221; offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company did not sell any shares under the ATM Program during the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, $500 million of the ATM Shares were available to be sold under the ATM Program. Actual future sales of the ATM Shares will depend upon a variety of factors including but not limited to market conditions, the trading price of the Company's common stock and the Company's capital needs. The Company has no obligation to sell the ATM Shares under the ATM Program.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's total outstanding loan indebtedness at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;">$7.1 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;(consisting of </font><font style="font-family:inherit;font-size:10pt;">$4.7 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;of consolidated debt, less </font><font style="font-family:inherit;font-size:10pt;">$0.2 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;of noncontrolling interests, plus </font><font style="font-family:inherit;font-size:10pt;">$2.7 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;of its pro rata share of unconsolidated joint venture debt). The majority of the Company's debt consists of fixed-rate conventional mortgage notes collateralized by individual properties. The Company expects that all of the maturities during the next twelve months, except for the loan on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, will be refinanced, restructured, extended and/or paid off from the Company's line of credit or cash on hand. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has a $1.5&#160;billion revolving line of credit facility that provides for an interest rate of LIBOR plus a spread of 1.38% to 2.0%, depending on the Company's overall leverage levels, and matures on August 6, 2018. Based on the Company's leverage level as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the borrowing rate on the facility was LIBOR plus </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">1.50%</font><font style="font-family:inherit;font-size:10pt;">. In addition, the line of credit can be expanded, depending on certain conditions, up to a total facility of $2.0&#160;billion. All obligations under the  facility are unconditionally guaranteed only by the Company. At </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, total borrowings under the line of credit were </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$745.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;less unamortized deferred finance costs of </font><font style="font-family:inherit;font-size:10pt;">$6.3 million</font><font style="font-family:inherit;font-size:10pt;">&#32;with an average effective interest rate of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2.11%</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Cash dividends and distributions for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;were </font><font style="font-family:inherit;font-size:10pt;">$452.2 million</font><font style="font-family:inherit;font-size:10pt;">, which included $337.7 million of the Special Dividend (See "Other Transactions and Events" in Management's Overview and Summary).  A total of </font><font style="font-family:inherit;font-size:10pt;">$107.8 million</font><font style="font-family:inherit;font-size:10pt;">&#32;was funded by operations. The remaining </font><font style="font-family:inherit;font-size:10pt;">$344.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;was funded from proceeds from the sale of assets, which were included in the cash flows from investing activities section of the Company's Consolidated Statement of Cash Flows.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was in compliance with all applicable loan covenants under its agreements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company had cash and cash equivalents of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$106.5 million</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Off-Balance Sheet Arrangements:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company accounts for its investments in joint ventures that it does not have a controlling interest or is not the primary beneficiary using the equity method of accounting and those investments are reflected on the consolidated balance sheets of the Company as investments in unconsolidated joint ventures.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">35</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, certain joint ventures also have secured debt that could become recourse debt to the Company or its subsidiaries, in excess of the Company's pro rata share, should the joint ventures be unable to discharge the obligations of the related debt. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the balance of the debt that could be recourse to the Company was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$5.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;offset in part by an indemnity agreement from a joint venture partner for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.5 million</font><font style="font-family:inherit;font-size:10pt;">. The maturity of the recourse debt, net of the indemnification, is </font><font style="font-family:inherit;font-size:10pt;">$2.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2019</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Additionally, as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was contingently liable for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$61.0 million</font><font style="font-family:inherit;font-size:10pt;">&#32;in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Contractual Obligations:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is a schedule of contractual obligations as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;for the consolidated Centers over the periods in which they are expected to be paid (in thousands):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:648px;border-collapse:collapse;text-align:left;"><tr><td colspan="20"></td></tr><tr><td style="width:222px;"></td><td style="width:8px;"></td><td style="width:67px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:67px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:67px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:67px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:8px;"></td><td style="width:67px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Payment Due by Period</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Contractual Obligations</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Less than</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">1&#160;year</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">1&#160;-&#160;3</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">years</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">3&#160;-&#160;5</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">years</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">More than</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">five years</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Long-term debt obligations (includes expected interest payments)(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,858,123</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">205,422</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,415,187</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,673,855</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,563,659</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Operating lease obligations(2)</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">341,089</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,695</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">25,381</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">19,178</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">280,835</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Purchase obligations(2)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">62,832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">62,832</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other long-term liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">328,836</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">291,791</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,470</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,842</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,733</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,590,880</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">575,740</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,444,038</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,696,875</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,874,227</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">_______________________________________________________________________________</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest payments on floating rate debt were based on rates in effect at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">15</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Commitments and Contingencies</font><font style="font-family:inherit;font-size:10pt;">&#32;in the Company's Notes to Consolidated Financial Statements.</font></div></td></tr></table><div style="line-height:120%;padding-left:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><a name="sBE809CAD7520506DA1FEEDB8549DD716"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Funds From Operations ("FFO")</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company uses FFO in addition to net income to report its operating and financial results and considers FFO and FFO-diluted as supplemental measures for the real estate industry and a supplement to Generally Accepted Accounting Principles ("GAAP") measures. The National Association of Real Estate Investment Trusts ("NAREIT") defines FFO as net income (loss) (computed in accordance with GAAP), excluding gains (or losses) from extraordinary items and sales of depreciated operating properties, plus real estate related depreciation and amortization, impairment write-downs of real estate and write-downs of investments in an affiliate where the write-downs have been driven by a decrease in the value of real estate held by the affiliate and after adjustments for unconsolidated joint ventures. Adjustments for unconsolidated joint ventures are calculated to reflect FFO on the same basis. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">FFO and FFO on a diluted basis are useful to investors in comparing operating and financial results between periods. This is especially true since FFO excludes real estate depreciation and amortization, as the Company believes real estate values fluctuate based on market conditions rather than depreciating in value ratably on a straight-line basis over time. The Company believes that such a presentation also provides investors with a meaningful measure of its operating results in comparison to the operating results of other REITs. The Company further believes that FFO on a diluted basis is a measure investors find most useful in measuring the dilutive impact of outstanding convertible securities.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company believes that FFO does not represent cash flow from operations as defined by GAAP, should not be considered as an alternative to net income as defined by GAAP, and is not indicative of cash available to fund all cash flow needs. The Company also cautions that FFO, as presented, may not be comparable to similarly titled measures reported by other REITs.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management compensates for the limitations of FFO by providing investors with financial statements prepared according to GAAP, along with this detailed discussion of FFO and a reconciliation of FFO and FFO-diluted to net income. Management believes that to further understand the Company's performance, FFO should be compared with the Company's reported net income and considered in addition to cash flows in accordance with GAAP, as presented in the Company's consolidated financial statements.</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">36</font></div></div><hr style="page-break-after:always"><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Funds From Operations ("FFO") (Continued)</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following reconciles net income attributable to the Company to FFO and FFO-diluted for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;and FFO and FFO-diluted to FFO and FFO-diluted, excluding extinguishment of debt and costs related to unsolicited takeover offer for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">&#32;(dollars and shares in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:498px;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:354px;"></td><td style="width:6px;"></td><td style="width:6px;"></td><td style="width:55px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:6px;"></td><td style="width:53px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Net income attributable to the Company</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">420,915</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">24,611</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Adjustments to reconcile net income attributable to the Company to FFO attributable to common stockholders and unit holders&#8212;basic and diluted:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Noncontrolling interests in the Operating Partnership</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">29,985</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">1,635</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gain on sale or write down of assets, net&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(434,456</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(935</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Gain on remeasurement of assets&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(22,103</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Add: noncontrolling interests share of gain on sale or write down  of assets&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">112</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Add: gain on sale of undepreciated assets&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">2,412</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">944</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Loss on sale or write down of assets&#8212; unconsolidated joint ventures, net(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Add: loss on sale of undepreciated assets&#8212;unconsolidated joint ventures(1)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Depreciation and amortization&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">86,931</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">120,618</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: noncontrolling interests in depreciation and amortization&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3,694</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3,791</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Depreciation and amortization&#8212;unconsolidated joint ventures(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">41,876</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">15,611</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Less: depreciation on personal property</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2,940</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3,168</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">FFO attributable to common stockholders and unit holders&#8212;basic and diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">141,029</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">133,534</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Loss (gain) on extinguishment of debt, net&#8212;consolidated assets</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">3,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(2,245</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">FFO attributable to common stockholders and unit holders excluding extinguishment of debt, net&#8212;diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">144,604</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">131,289</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Costs related to unsolicited takeover offer</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">13,572</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">FFO attributable to common stockholders and unit holders excluding extinguishment of debt and costs related to unsolicited takeover offer&#8212;diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">144,604</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">144,861</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Weighted average number of FFO shares outstanding for:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">FFO attributable to common stockholders and unit holders&#8212;basic (2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">162,805</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">168,852</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Adjustments for impact of dilutive securities in computing FFO-diluted:</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#160;&#160;&#160;Share and unit based compensation plans</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">119</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">208</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">FFO attributable to common stockholders and unit holders&#8212;diluted (3)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">162,924</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">169,060</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:26px;"></td><td style="width:373px;"></td><td style="width:282px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Unconsolidated joint ventures are presented at the Company's pro rata share.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Calculated based upon basic net income as adjusted to reach basic FFO. Includes </font><font style="font-family:inherit;font-size:9pt;">10.8 million</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">10.5 million</font><font style="font-family:inherit;font-size:9pt;">&#32;OP Units for the </font><font style="font-family:inherit;font-size:9pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:9pt;">&#32;</font><font style="font-family:inherit;font-size:9pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;">&#32;and </font><font style="font-family:inherit;font-size:9pt;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:9pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">The computation of FFO&#8212;diluted shares outstanding includes the effect of share and unit-based compensation plans using the treasury stock method. It also assumes the conversion of MACWH,&#160;LP common and preferred units to the extent that they are dilutive to the FFO&#8212;diluted computation.</font></div></td></tr></table><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37</font></div></div><hr style="page-break-after:always"><div><a name="s0A139AD411E15F53A5964212ED19713E"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Quantitative and Qualitative Disclosures About Market Risk</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's primary market risk exposure is interest rate risk. The Company has managed and will continue to manage interest rate risk by (1)&#160;maintaining a ratio of fixed rate, long-term debt to total debt such that floating rate exposure is kept at an acceptable level, (2)&#160;reducing interest rate exposure on certain long-term floating rate debt through the use of interest rate caps and/or swaps with matching maturities where appropriate, (3)&#160;using treasury rate locks where appropriate to fix rates on anticipated debt transactions, and (4)&#160;taking advantage of favorable market conditions for long-term debt and/or equity.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table sets forth information as of </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;concerning the Company's long-term debt obligations, including principal cash flows by scheduled maturity, weighted average interest rates and estimated fair value (dollars in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="32"></td></tr><tr><td style="width:112px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:51px;"></td><td style="width:8px;"></td><td style="width:5px;"></td><td style="width:5px;"></td><td style="width:57px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="23" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Expected Maturity Date</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="19" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the twelve months ended March 31,</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2018</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2020</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2021</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Thereafter</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Fair Value</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">CONSOLIDATED CENTERS:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Long-term debt:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fixed rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,605</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">582,645</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">50,304</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">793,149</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">594,791</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,504,605</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,593,099</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,627,220</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Average interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.03</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.34</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.08</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.47</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.92</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.86</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Floating rate</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">131,446</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">745,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">200,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,076,446</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,072,239</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Average interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.78</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.11</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.10</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.19</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total debt&#8212;Consolidated Centers</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,051</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">582,645</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">795,304</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">993,149</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">594,791</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,504,605</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,669,545</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,699,459</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">UNCONSOLIDATED JOINT VENTURE CENTERS:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Long-term debt (at Company's pro rata share):</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fixed rate</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">177,102</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">38,038</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">38,986</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">44,566</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">159,530</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,047,676</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,505,898</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,499,426</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Average interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">6.65</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.75</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.75</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.75</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.10</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.88</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.01</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Floating rate</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,159</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">65,360</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,182</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">31,782</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">52,500</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">170,402</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">164,506</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Average interest rate</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.50</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.53</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.33</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.47</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.50</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.64</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.23</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Total debt&#8212;Unconsolidated Joint Venture Centers</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">178,261</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">103,398</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">48,405</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">54,748</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">191,312</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,100,176</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,676,300</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,663,932</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The consolidated Centers' total fixed rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3.6 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$4.3 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively. The average interest rate on such fixed rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">3.86%</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">3.80%</font><font style="font-family:inherit;font-size:10pt;">, respectively. The consolidated Centers' total floating rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.1 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.0 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively. The average interest rate on such floating rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.19%</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.03%</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's pro rata share of the unconsolidated joint venture Centers' fixed rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2.5 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$1.8 billion</font><font style="font-family:inherit;font-size:10pt;">, respectively. The average interest rate on such fixed rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">4.01%</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">4.13%</font><font style="font-family:inherit;font-size:10pt;">, respectively. The Company's pro rata share of the unconsolidated joint venture Centers' floating rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$170.4 million</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;">$170.5 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. The average interest rate on such floating rate debt at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">&#32;was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.23%</font><font style="font-family:inherit;font-size:10pt;">&#32;and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.06%</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, the Company has assessed the market risk for its floating rate debt and believes that a 1% increase in interest rates would decrease future earnings and cash flows by approximately </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$12.5 million</font><font style="font-family:inherit;font-size:10pt;">&#32;per year based on </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.2 billion</font><font style="font-family:inherit;font-size:10pt;">&#32;of floating rate debt outstanding at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The fair value of the Company's long-term debt is estimated based on a present value model utilizing interest rates that reflect the risks associated with long-term debt of similar risk and duration. In addition, the method of computing fair value for mortgage notes payable included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">8</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Mortgage Notes Payable</font><font style="font-family:inherit;font-size:10pt;">&#32;and Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">9</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Bank and Other Notes Payable</font><font style="font-family:inherit;font-size:10pt;">&#32;in the Company's Notes to the Consolidated Financial Statements). </font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38</font></div></div><hr style="page-break-after:always"><div><a name="sA620E4C230005D6FBF3F0115C3EA0C43"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item 4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Controls and Procedures</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As required by Rule&#160;13a-15(b) under the Securities Exchange Act of 1934, management carried out an evaluation, under the supervision and with the participation of the Company's Chief Executive Officer and Chief Financial Officer, of the effectiveness of the Company's disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form&#160;10-Q. Based on their evaluation as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company's Chief Executive Officer and Chief Financial Officer have concluded that the Company's disclosure controls and procedures (as defined in Rule&#160;13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended) were effective to ensure that the information required to be disclosed by the Company in the reports that it files or submits under the Securities Exchange Act of 1934 is (a)&#160;recorded, processed, summarized, and reported within the time periods specified in the SEC's rules and forms and (b)&#160;accumulated and communicated to the Company's management, including its Chief Executive Officer and Chief Financial Officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, there has been no change in the Company's internal control over financial reporting (as such term is defined in Rules&#160;13a-15(f) and 15(d)-15(f) under the Securities Exchange Act of 1934) that occurred during the Company's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">39</font></div></div><hr style="page-break-after:always"><div><a name="s7F10F47499ED5DE289DBEB2CE2F82B2C"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PART II OTHER INFORMATION</font></div><div><a name="s4B564D3CB52B57C4BD15DA3343C94100"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;1.&#160;&#160;&#160;Legal Proceedings</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">None of the Company, the Operating Partnership, the Management Companies or their respective affiliates are currently involved in any material legal proceedings, although from time-to-time they are involved in various legal proceedings that arise in the ordinary course of business.</font></div><div><a name="sDDA844D1EF25571BBE1C2A4E2D5E8765"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;1A.&#160;&#160;Risk Factors</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There have been no material changes to the risk factors relating to the Company set forth under the caption "Item&#160;1A. Risk Factors" in the Company's Annual Report on Form&#160;10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div><a name="sC1B06AA8E7FA5D938E6B5AF25154AF20"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;2.&#160;&#160;Unregistered Sales of Equity Securities and Use of Proceeds</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On February 29, 2016 and March 15, 2016, the Company, as general partner of the Operating Partnership, issued 89,090 and 2,500 shares of common stock of the Company, respectively, upon the redemption of 91,590 common partnership units of the Operating Partnership. These shares of common stock were issued in a private placement to two limited partners of the Operating Partnership, each an accredited investor, pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Issuer Purchases of Equity Securities</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.8046875%;border-collapse:collapse;text-align:left;"><tr><td colspan="18"></td></tr><tr><td style="width:28%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:4%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:4%;"></td><td style="width:1%;"></td><td style="width:1%;"></td><td style="width:13%;"></td><td style="width:1%;"></td><td style="width:4%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Period</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total Number of Shares Purchased</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Average Price Paid per Share (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;font-weight:bold;">Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs(2)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">January 1, 2016 to January 31, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">970,609</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78.26</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">970,609</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(3)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">800,000,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">February 1, 2016 to February 29, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,222,193</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78.69</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">4,222,193</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">400,000,000</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(4)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">March 1, 2016 to March 31, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">400,000,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,192,802</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">78.61</font></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">5,192,802</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The average price paid per share is calculated on a trade date basis.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:8pt;">, the Company's Board of Directors authorized the repurchase of up to </font><font style="font-family:inherit;font-size:8pt;">$1.2 billion</font><font style="font-family:inherit;font-size:8pt;">&#32;of the Company's outstanding common shares over the period ending </font><font style="font-family:inherit;font-size:8pt;">September&#160;30, 2017</font><font style="font-family:inherit;font-size:8pt;">, as market conditions warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated stock repurchase transactions, or other methods of acquiring shares from time to time as permitted by securities law and other legal requirements.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;19, 2016</font><font style="font-family:inherit;font-size:8pt;">, the ASR to repurchase </font><font style="font-family:inherit;font-size:8pt;">$400.0 million</font><font style="font-family:inherit;font-size:8pt;">&#32;of the Company's common stock that began on </font><font style="font-family:inherit;font-size:8pt;">November&#160;12, 2015</font><font style="font-family:inherit;font-size:8pt;">&#32;was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:8pt;">970,609</font><font style="font-family:inherit;font-size:8pt;">&#32;shares (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">12</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:8pt;">&#32;in the Company's Notes to the Consolidated Financial Statements).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">February&#160;17, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company entered into an  additional ASR to repurchase </font><font style="font-family:inherit;font-size:8pt;">$400.0 million</font><font style="font-family:inherit;font-size:8pt;">&#32;of the Company's common stock. In accordance with the ASR (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">12</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:8pt;">&#32;in the Company's Notes to the Consolidated Financial Statements), the Company made a prepayment of </font><font style="font-family:inherit;font-size:8pt;">$400.0 million</font><font style="font-family:inherit;font-size:8pt;">&#32;and received an initial share delivery of </font><font style="font-family:inherit;font-size:8pt;">4,222,193</font><font style="font-family:inherit;font-size:8pt;">&#32;shares. On </font><font style="font-family:inherit;font-size:8pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:8pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:8pt;">861,235</font><font style="font-family:inherit;font-size:8pt;">&#32;shares.</font></div></td></tr></table><div><a name="sEAF7915FD75C576C9DA20402310DC7C3"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;3.&#160;&#160;Defaults Upon Senior Securities</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div><div><a name="s2A1D691A0A445E6AB0DFADC3124C4832"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;4.&#160;&#160;Mine Safety Disclosures</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div><div><a name="s4A5DB6354AEA548DB1DBDA1031ACC5C9"></a></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;5.&#160;&#160;Other Information</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Not Applicable</font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">40</font></div></div><hr style="page-break-after:always"><div><a name="s0B22A6769B9C526BBB27E239DB5D2187"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Item&#160;6.&#160;&#160;Exhibits</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:90%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Exhibit</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Number</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Description</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Master Agreement, dated November 14, 2014, by and among Pacific Premier Retail LP, MACPT LLC, Macerich PPR GP LLC, Queens JV LP, Macerich Queens JV LP, Queens JV GP LLC, 1700480 Ontario Inc. and the Company (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date November 14, 2014).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles of Amendment and Restatement of the Company (incorporated by reference as an exhibit to the Company's Registration Statement on Form&#160;S-11, as amended (No.&#160;33-68964)).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (incorporated by reference as an exhibit to the Company's Current Report on Form&#160;8-K, event date May&#160;30, 1995).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (with respect to the first paragraph) (incorporated by reference as an exhibit to the Company's 1998 Form&#160;10-K).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.3</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (Series&#160;D Preferred Stock) (incorporated by reference as an exhibit to the Company's Current Report on Form&#160;8-K, event date July&#160;26, 2002).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.4</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (incorporated by reference as an exhibit to the Company's Registration Statement on Form&#160;S-3, as amended (No.&#160;333-88718)).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.5</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles of Amendment of the Company (declassification of Board) (incorporated by reference as an exhibit to the Company's 2008 Form&#160;10-K).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.6</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (incorporated by reference as an exhibit to the Company's Current Report on Form&#160;8-K, event date February&#160;5, 2009).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.7</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles of Amendment of the Company (increased authorized shares) (incorporated by reference as an exhibit to the Company's Quarterly Report on Form&#160;10-Q for the quarter ended June&#160;30, 2009).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.8</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles of Amendment of the Company (to eliminate the supermajority vote requirement to amend the charter and to clarify a reference in Article NINTH) (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date May 30, 2014).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.9</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (election to be subject to Section 3-803 of the Maryland General Corporation Law) (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date March 17, 2015).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.10</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (Series E Preferred Stock) (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date March 18, 2015).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.11</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (reclassification of Series E Preferred Stock to Preferred Stock) (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date May 7, 2015).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.1.12</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Articles Supplementary of the Company (repeal of election to be subject to Section 3-803 of the Maryland General Corporation Law) (incorporated by reference as an exhibit to the Company&#8217;s Current Report on Form 8-K, event date May 28, 2015).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Amended and Restated Bylaws of the Company (incorporated by reference as an exhibit to the Company's Current Report on Form&#160;8-K, event date April 21, 2016).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.1 *</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of LTIP Unit Award Agreement under 2003 Equity Incentive Plan (service-based).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10.2 *</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Form of LTIP Unit Award Agreement under 2003 Equity Incentive Plan (performance-based).</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section&#160;302 Certification of Arthur Coppola, Chief Executive Officer</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">31.2</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section&#160;302 Certification of Thomas O'Hern, Chief Financial Officer</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32.1</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Section&#160;906 Certifications of Arthur Coppola and Thomas O'Hern</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.INS</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Instance Document</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.SCH</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Schema Document</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.CAL</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Calculation Linkbase Document</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.LAB</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Label Linkbase Document</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.PRE</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Presentation Linkbase Document</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">101.DEF</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">XBRL Taxonomy Extension Definition Linkbase Document</font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;">*     Represents a management contract, or compensatory plan, contract or arrangement required to be filed pursuant to Regulation&#160;S-K.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">41</font></div></div><hr style="page-break-after:always"><div><a name="sA57CDFF99AFF51D99BB639E078B07566"></a></div><div><div style="line-height:120%;font-size:8pt;"><a style="font-family:inherit;font-size:8pt;" href="#s6FDDD030EDCB5D75ACE8BD4D3FFF3F4B"><font style="font-family:inherit;font-size:8pt;">Table of Contents</font></a></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Signature</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:97.265625%;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:7%;"></td><td style="width:13%;"></td><td style="width:24%;"></td><td style="width:4%;"></td><td style="width:52%;"></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">THE MACERICH COMPANY</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ THOMAS E. O'HERN</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Thomas E. O'Hern</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">&#160;Senior Executive Vice President and Chief Financial Officer</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:</font></div></td><td colspan="2" style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May&#160;6, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">(Principal Financial Officer)</font></div></td></tr></table></div></div><div><br></div><div style="text-align:center;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42</font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>mac-3312016xexhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sB88870297E4D63C1407F544F2C2ACD0E"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE MACERICH COMPANY</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">[2016] LTIP UNIT AWARD AGREEMENT <br>(SERVICE-BASED)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[2016] LTIP UNIT AWARD AGREEMENT (Service-Based) made as of the date set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto between The Macerich Company, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), its subsidiary The Macerich Partnership, L.P., a Delaware limited partnership and the entity through which the Company conducts substantially all of its operations (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the party listed on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">&#32;(the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grantee</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;The Grantee is a key employee of the Company or one of its Subsidiaries or affiliates and provides services to the Partnership.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;Pursuant to its Long-Term Incentive Plan (&#8220;LTIP&#8221;) the Company can award units of limited partnership interest of the Partnership designated as &#8220;LTIP Units&#8221; in the Partnership Agreement (as defined herein) under The Macerich Company 2003 Equity Incentive Plan, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2003 Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;), to provide certain key employees of the Company or its Subsidiaries and affiliates, including the Grantee, in connection with their employment with the long-term incentive compensation described in this Award Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and thereby provide additional incentive for them to promote the progress and success of the business of the Company and its Subsidiaries and affiliates, including the Partnership, while increasing the total return to the Company&#8217;s stockholders.  [2016] LTIP Units (SB) (as defined herein) have been awarded by the Compensation Committee (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of the Board of Directors of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:12pt;">&#8221;) pursuant to authority delegated to it by the Board as set forth in the Committee&#8217;s charter, including authority to make grants of equity interests in the Partnership which may, under certain circumstances, become exchangeable for shares of the Company&#8217;s Common Stock reserved for issuance under the 2003 Plan, or any successor equity plan (as any such plan may be amended, modified or supplemented from time to time, collectively the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Stock Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  This Agreement evidences an award to the Grantee under the LTIP (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:12pt;">&#8221;), which is subject to the terms and conditions set forth herein.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">C.&#160;&#160;&#160;&#160;The Grantee was selected by the Committee to receive this Award as one of a select group of highly compensated or management employees who, through the effective execution of their assigned duties and responsibilities, are in a position to have a direct and measurable impact on the Company&#8217;s long-term financial results.  Effective as of the grant date specified in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto, the Committee awarded to the Grantee the number of [2016] LTIP Units (SB) (as defined herein) set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, the Company, the Partnership and the Grantee agree as follows:  </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;color:#010000;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Administration</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;The LTIP and all awards thereunder, including this Award, shall be administered by the Committee, which in the administration of the LTIP shall have all the powers and authority it has in the administration of the Stock Plan, as set forth in the Stock Plan.  </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">The Committee may from time to time adopt any rules or procedures it deems necessary or desirable for the proper and efficient administration of the LTIP, consistent with the terms hereof and of the Stock Plan.  The Committee&#8217;s determinations and interpretations with respect to the LTIP and this Agreement shall be final and binding on all parties.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;color:#010000;padding-right:48px;">2.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Capitalized terms used herein without definitions shall have the meanings given to those terms in the Stock Plan.  In addition, as used herein:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award [2016] LTIP Units (SB)</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3(a)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cause</font><font style="font-family:inherit;font-size:12pt;">&#8221; for termination of the Grantee&#8217;s employment means that the Company, acting in good faith based upon the information then known to the Company, determines that the Grantee has:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;failed to perform in a material respect without proper cause his obligations under the Grantee&#8217;s Service Agreement (if one exists);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;been convicted of or pled guilty or </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">nolo contendere</font><font style="font-family:inherit;font-size:12pt;">&#32;to a felony; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;committed an act of fraud, dishonesty or gross misconduct which is materially injurious to the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Applicable Board (as defined below) or upon the instructions of the Chief Executive Officer of the Company or based upon the advice of counsel or independent accountants for the Company shall be conclusively presumed for purposes of this Agreement to be done, or omitted to be done, by the Grantee in good faith and in the best interests of the Company.  The cessation of employment of the Grantee shall not be deemed to be for Cause under clause (a) or (c) above unless and until there shall have been delivered to the Grantee a copy of a resolution duly adopted by the affirmative vote of at least a majority of the entire membership of the Applicable Board (excluding the Grantee and any relative of the Grantee, if the Grantee or such relative is a member of the Applicable Board) at a meeting of the Applicable Board called and held for such purpose (after reasonable notice is provided to the Grantee and the Grantee is given an opportunity, together with counsel for the Grantee, to be heard before the Applicable Board), finding that, in the good faith opinion of the Applicable Board, the Grantee is guilty of the conduct described in clause (a) or (c) above, and specifying the particulars thereof in reasonable detail.  For purposes of the definition of Cause, &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Board</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Board or, if the Company is not the ultimate parent corporation of the Company and its Affiliates and is not publicly-traded, the board of directors of the ultimate parent of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Change of Control</font><font style="font-family:inherit;font-size:12pt;">&#8221; means any of the following:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;The acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 33% or more of either (A)&#160;the then-outstanding shares of common stock of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Outstanding Company Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221;) or (B)&#160;the combined voting power of the then-outstanding voting securities of the </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Company entitled to vote generally in the election of directors (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Outstanding Company Voting Securities</font><font style="font-family:inherit;font-size:12pt;">&#8221;); provided, however, that, for purposes of this definition, the following acquisitions shall not constitute a Change of Control: (i)&#160;any acquisition directly from the Company, (ii)&#160;any acquisition by the Company, (iii)&#160;any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliate of the Company or successor or (iv) any acquisition by any entity pursuant to a transaction that complies with (c)(i), (c)(ii) and (c)(iii) below;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;Individuals who, as of the date hereof, constitute the Board (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incumbent Board</font><font style="font-family:inherit;font-size:12pt;">&#8221;) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company&#8217;s stockholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board (including for these purposes, the new members whose election or nomination was so approved, without counting the member and his predecessor twice) shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Business Combination</font><font style="font-family:inherit;font-size:12pt;">&#8221;), in each case unless, following such Business Combination, (i)&#160;all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company&#8217;s assets directly or through one or more subsidiaries (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;)) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (ii)&#160;no Person (excluding any entity resulting from such Business Combination or a Parent or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination or Parent) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding shares of common stock of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity, except to the extent that the ownership in excess of 20% existed prior to the Business Combination, and (iii)&#160;at least a majority of the members of the board of directors or trustees of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Code</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Internal Revenue Code of 1986, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221; means shares of the Company&#8217;s common stock, par value $0.01 per share, either currently existing or authorized hereafter. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Competitive Activities</font><font style="font-family:inherit;font-size:12pt;">&#8221; means that the Grantee, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engages, participates, assists or invests in any Competing Business (as hereinafter defined).  The term &#8220;Competing Business&#8221; shall mean a publicly-traded real estate investment trust that is identified by the National Association of Real Estate Investment Trusts as a &#8220;mall REIT&#8221; (other than the surviving or resulting entity upon a Change of Control or any of its affiliates).  Notwithstanding the foregoing, the Grantee may own equity securities of an entity which constitutes or is affiliated with a Competing Business, so long at their value does not exceed two percent (2%) of the aggregate equity market capitalization of the Competing Business.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Continuous Service</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the continuous service to the Company or any Subsidiary or affiliate, without interruption or termination, in any capacity of employee, or, with the written consent of the Committee, consultant.  Continuous Service shall not be considered interrupted in the case of (A)&#160;any approved leave of absence, (B)&#160;transfers among the Company and any Subsidiary or affiliate, or any successor, in any capacity of employee, or with the written consent of the Committee, consultant, or (C)&#160;any change in status as long as the individual remains in the service of the Company and any Subsidiary or affiliate in any capacity of employee, member of the Board or (if the Company specifically agrees in writing that the Continuous Service is not uninterrupted) a consultant.  An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Disability</font><font style="font-family:inherit;font-size:12pt;">&#8221; means (1) a &#8220;permanent and total disability&#8221; within the meaning of Section&#160;22(e)(3) of the Code, or (2)&#160;the absence of the Grantee from his duties with the Company on a full-time basis for a period of nine months as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Grantee or his legal representative (such agreements as to acceptability not to be unreasonably withheld).  &#8220;Incapacity&#8221; as used herein shall be limited only to a condition that substantially prevents the Grantee from performing his or her duties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means January 1, [2016].</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Act</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Securities Exchange Act of 1934, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Good Reason</font><font style="font-family:inherit;font-size:12pt;">&#8221; means an action taken by the Company, without the Grantee&#8217;s written consent thereto, resulting in a material negative change in the employment relationship.  For these purposes, a &#8220;material negative change in the employment relationship&#8221; shall include, without limitation, any one or more of the following reasons, to the extent not remedied by the Company within 30 days after receipt by the Company of written notice from the Grantee </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">provided to the Company within 90 days (the &#8220;Cure Period&#8221;) of the Grantee&#8217;s knowledge of the occurrence of an event or circumstance set forth in clauses (a) through (e) below specifying in reasonable detail such occurrence:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;the assignment to the Grantee of any duties materially inconsistent in any respect with the Grantee&#8217;s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities, or any other material diminution in such position, authority, duties or responsibilities (whether or not occurring solely as a result of the Company&#8217;s ceasing to be a publicly traded entity);  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;a change in the Grantee&#8217;s principal office location to a location further away from the Grantee&#8217;s home which is more than 30 miles from the Grantee&#8217;s current principal office;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;the taking of any action by the Company to eliminate benefit plans in which the Grantee participated in or was eligible to participate in immediately prior to a Change of Control without providing substitutes therefor, to materially reduce benefits thereunder or to substantially diminish the aggregate value of the incentive awards or other fringe benefits; provided that if neither a surviving entity nor its parent following a Change of Control is a publicly-held company, the failure to provide stock-based benefits shall not be deemed good reason if benefits of comparable value using recognized valuation methodology are substituted therefor; and provided further that a reduction or elimination in the aggregate of not more than 10% in aggregate benefits in connection with across the board reductions or modifications affecting similarly situated persons of executive rank in the Company or a combined organization shall not constitute Good Reason;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;any one or more reductions in the Grantee&#8217;s Base Salary that, individually or in the aggregate, exceed 10% of the Grantee&#8217;s Base Salary; or </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)&#160;&#160;&#160;&#160;any material breach by the Company of the Grantee&#8217;s Service Agreement (if one exists).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event that the Company fails to remedy the condition constituting Good Reason during the applicable Cure Period, the Grantee&#8217;s &#8220;separation from service&#8221; (within the meaning of Section&#160;409A of the Code) must occur, if at all, within two years following the occurrence of such condition in order for such termination as a result of such condition to constitute a termination for Good Reason.  If the Grantee suffers a Disability or dies following the occurrence of any of the events described in clauses (a) through (e) above and the Grantee has given the Company the requisite written notice but the Company has failed to remedy the situation prior to such physical or mental incapacity or death, the Grantee&#8217;s physical or mental incapacity or death shall not affect the ability of the Grantee or his heirs or beneficiaries, as applicable, to treat the Grantee&#8217;s termination of employment as a termination for Good Reason.  For purposes of the definition of Good Reason, the term &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Base Salary</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the annual base rate of compensation payable to Grantee by the Company as of the Grantee&#8217;s date of termination, before deductions or voluntary deferrals authorized by the Grantee or required by law to be withheld from the Grantee by the Company.  Salary excludes all other extra pay such as </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">overtime, pensions, severance payments, bonuses, stock incentives, living or other allowances, and other perquisites.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">[2016] LTIP Units (SB)</font><font style="font-family:inherit;font-size:12pt;">&#8221; means units of limited partnership interest of the Partnership designated as &#8220;LTIP Units&#8221; in the Partnership Agreement awarded pursuant to this Agreement under the LTIP having the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption set forth in the Partnership Agreement.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Amended and Restated Limited Partnership Agreement of the Partnership, dated as of March 16, 1994, among the Company, as general partner, and the limited partners who are parties thereto, as amended from time to time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Person</font><font style="font-family:inherit;font-size:12pt;">&#8221; means an individual, corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization, other entity or &#8220;group&#8221; (as defined in the Exchange Act).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Retirement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means: (A) if the Grantee is a party to a Service Agreement immediately prior to such event, and &#8220;Retirement&#8221; is defined therein, then &#8220;Retirement&#8221; shall have the meaning set forth in such Service Agreement, or (B) if the Grantee is not party to a Service Agreement immediately prior to such event and/or the Grantee&#8217;s Service Agreement does not define &#8220;Retirement,&#8221; then &#8220;Retirement&#8221; shall mean the Grantee&#8217;s termination of employment with the Company and its Subsidiaries after attainment of age 55 and completion of five (5) years of employment with the Company and/or a Subsidiary, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that following Retirement the Grantee does not engage in Competitive Activities during the balance of the Performance Period; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">however</font><font style="font-family:inherit;font-size:12pt;">, that if the Grantee would be eligible for Retirement pursuant to clause (B) as of the date of this Agreement, the Grantee will not be entitled to the benefits provided in this Agreement in the event of Retirement until the first anniversary of the date of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Qualified Termination</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a termination of the Grantee&#8217;s employment (A)&#160;by the Company for no reason, or for any reason other than for Cause, death or Disability, (B)&#160;by the Grantee for Good Reason or (C) upon the Grantee&#8217;s Retirement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Service Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, as of a particular date, any employment, consulting or similar service agreement, including, without limitation, management continuity agreement, then in effect between the Grantee, on the one hand, and the Company or one of its affiliates, on the other hand, as amended or supplemented through such date. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Units</font><font style="font-family:inherit;font-size:12pt;">&#8221; means Partnership Units (as defined in the Partnership Agreement) that are outstanding or are issuable upon the conversion, exercise, exchange or redemption of any securities of any kind convertible, exercisable, exchangeable or redeemable for Partnership Units. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means each of the vesting dates set forth in Section&#160;4.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Schedule</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the vesting schedule set forth in Section&#160;4.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;font-weight:bold;"></font><font style="font-family:inherit;font-size:12pt;color:#010000;">3.</font><font style="font-family:inherit;font-size:12pt;color:#010000;font-weight:bold;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Award of [2016] LTIP Units (SB).</font><font style="font-family:inherit;font-size:12pt;">On the terms and conditions set forth in this Agreement, as well as the terms and conditions of the Stock Plan, the Grantee is hereby granted this Award consisting of the number of [2016] LTIP Units (SB) set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto, which is incorporated herein by reference (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award [2016] LTIP Units (SB)</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:96px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;color:#010000;padding-right:48px;">(a)</font><font style="font-family:inherit;font-size:12pt;">Award [2016] LTIP Units (SB) shall constitute and be treated as the property of the Grantee as of the applicable grant date, subject to the terms of this Agreement and the Partnership Agreement.  Every grant of Award [2016] LTIP Units (SB) to the Grantee pursuant to this Award shall be set forth in minutes of the meetings of the Committee.  Award [2016] LTIP Units (SB) will be: (A)&#160;subject to vesting and/or forfeiture to the extent provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">; and (B)&#160;subject to restrictions on transfer as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;8</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Vesting of Award [2016] LTIP Units (SB)</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Except as otherwise provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof and/or the Stock Plan, the Award [2016] LTIP Units (SB) shall become vested in the amounts provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the Continuous Service of the Grantee continues through and on the relevant Vesting Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Grantee agrees to provide Continuous Service to the Company in consideration for the conditional rights to the unvested Award [2016] LTIP Units (SB).  Except as otherwise provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;or pursuant to the Stock Plan, the Vesting Schedule provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto requires Continuous Service through each applicable Vesting Date as a condition to the vesting of the applicable installment and rights and benefits under this Agreement.  Partial service, even if substantial, during any vesting period will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;below or under the Stock Plan.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Change of Control or Termination of Grantee&#8217;s Service Relationship</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If the Grantee is a party to a Service Agreement, the provisions of this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;shall govern the vesting of the Grantee&#8217;s Award [2016] LTIP Units (SB) exclusively in the event of a Change of Control or termination of the Grantee&#8217;s service relationship with the Company or any Subsidiary or affiliate, unless the Service Agreement contains provisions that expressly refer to this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;and provides that those provisions of the Service Agreement shall instead govern the vesting of the Grantee&#8217;s Award [2016] LTIP Units (SB).  The foregoing sentence will be deemed an amendment to any applicable Service Agreement to the extent required to apply its terms consistently with this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">.  In the event an entity ceases to be a Subsidiary or affiliate of the Company, such action shall be deemed to be a termination of employment of all employees of that entity for purposes of this Agreement, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the Committee, in its sole and absolute discretion, may make provision in such circumstances for accelerated vesting of some or all of the Grantee&#8217;s remaining unvested Award [2016] LTIP Units (SB) that have not previously been forfeited effective immediately prior to such event.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of a Change of Control or a termination of Grantee&#8217;s employment as a result of the Grantee&#8217;s death or Disability, the unvested Award [2016] LTIP Units subject to this Agreement that have not been previously forfeited shall automatically and immediately vest as of the date of the Change of Control, Grantee&#8217;s death or Disability (or effective immediately prior to such event to the extent necessary in order to enable the realization of the benefits of such acceleration), subject to the provisions of Sections&#160;6.4 and 6.5 of the Stock Plan.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of a Qualified Termination, then any portion of his Award [2016] LTIP Units (SB) that has not then vested shall continue to vest in accordance with the Vesting Schedule, subject to the provisions of Sections 6.4 and 6.5 of the Stock Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Notwithstanding the foregoing, in the event vesting pursuant to this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;is determined to constitute &#8220;nonqualified deferred compensation&#8221; subject to Section&#160;409A of the Code, then, to the extent the Grantee is a &#8220;specified employee&#8221; under Section&#160;409A of the Code subject to the six-month delay thereunder, any such vesting or related payments to be made during the six-month period commencing on the Grantee's &#8220;separation from service&#8221; (as defined in Section&#160;409A of the Code) shall be delayed until the expiration of such six-month period.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of a termination of employment or other cessation of the Grantee&#8217;s Continuous Service other than a Qualified Termination, Grantee&#8217;s death or Disability, effective as of the date of such termination or cessation, all Award [2016] LTIP Units (SB) except for those that had previously become vested pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto shall automatically and immediately be forfeited by the Grantee.  Any forfeited Award [2016] LTIP Units (SB) shall, without payment of any consideration by the Partnership, automatically and without notice be and become null and void, and neither the Grantee nor any of his successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such forfeited Award [2016] LTIP Units (SB).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Payments by Award Recipients</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;No amount shall be payable to the Company or the Partnership by the Grantee at any time in respect of this Award.</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Distributions.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Distributions on Award [2016] LTIP Units (SB) will be paid in accordance with the Partnership Agreement as modified hereby as follows:The LTIP Unit Distribution Participation Date (as defined in the Partnership Agreement) with respect to the Award [2016] LTIP Units (SB) shall be the Effective Date and the Award [2016] LTIP Units (SB) shall be entitled to the full distribution payable on Units outstanding as of the record date for the quarterly distribution in which the Effective Date falls even though the Award [2016] LTIP Units (SB) will not have been outstanding for the whole quarterly period.  All distributions paid with respect to Award [2016] LTIP Units (SB) shall be fully vested and non-forfeitable when paid whether the underlying Award [2016] LTIP Units (SB) are vested or unvested.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To the extent that the Partnership makes distributions to holders of Units partially in cash and partially in additional Units or other securities, unless the Committee in its sole discretion determines to allow the Grantee to make a different election, the Grantee shall be </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">deemed to have elected with respect to all Award [2016] LTIP Units (SB) eligible to receive such distribution to receive 10% of such distribution in cash and 90% in Units.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Restrictions on Transfer</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;None of the Award [2016] LTIP Units (SB) shall be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (whether voluntarily or involuntarily or by judgment, levy, attachment, garnishment or other legal or equitable proceeding) (each such action a &#8220;Transfer&#8221;), or redeemed in accordance with the Partnership Agreement (a)&#160;prior to vesting, and (b)&#160;unless such Transfer is in compliance with all applicable securities laws (including, without limitation, the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;)), and the applicable terms and conditions of the Partnership Agreement; and provided, further, that the Transferee agrees in writing with the Company and the Partnership not to make any further Transfer of such vested Award [2016] LTIP Units (SB) or Award [2016] LTIP Units (SB) that have been converted into Units (&#8220;Converted LTIP Units&#8221;) other than as permitted by this Section&#160;8.  In connection with any Transfer of Award [2016] LTIP Units (SB) or Converted LTIP Units, the Partnership may require the Grantee to provide an opinion of counsel, satisfactory to the Partnership, that such Transfer is in compliance with all federal and state securities laws (including, without limitation, the Securities Act).  Any attempted Transfer of Award [2016] LTIP Units (SB) not in accordance with the terms and conditions of this Section&#160;8 shall be null and void, and the Partnership shall not reflect on its records any change in record ownership of any Award [2016] LTIP Units (SB) as a result of any such Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer of any Award [2016] LTIP Units (SB).  The restrictions on Transfer in this Section 8 shall not be interpreted to prohibit the Grantee from designating one or more beneficiaries to receive the Grantee&#8217;s LTIP Units or Converted LTIP Units that are payable in the event of the Grantee&#8217;s death. Any such beneficiary designation shall be on a form provided or approved by the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">9.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Changes in Capital Structure</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">.</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;Without duplication with the provisions of Section&#160;6.2 of the Stock Plan, if (a)&#160;the Company shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization, exchange of shares, sale of all or substantially all of the assets or stock of the Company, spin-off of a Subsidiary, business unit or significant portion of assets or other fundamental transaction similar thereto, (b)&#160;any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization, significant repurchases of stock, or other similar change in the capital structure of the Company shall occur, (c)&#160;any extraordinary dividend or other distribution to holders of shares of Common Stock or Units other than regular cash dividends shall be made, or (d) any other event shall occur that in each case in the good faith judgment of the Committee necessitates action by way of appropriate equitable adjustment in the terms of this Award, the LTIP or the Award [2016] LTIP Units (SB), then the Committee shall take such action as it deems necessary to maintain the Grantee&#8217;s rights hereunder so that they are substantially proportionate to the rights existing under this Award, the LTIP and the terms of the Award [2016] LTIP Units (SB) prior to such event, including, without limitation: (i) adjustments in the Award [2016] LTIP Units (SB) or other pertinent terms of this Award; and (ii) substitution of other awards under the Stock Plan or otherwise.  The Grantee shall have the right to vote the Award [2016] LTIP Units (SB) if and </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">when voting is allowed under the Partnership Agreement, regardless of whether vesting has occurred.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Miscellaneous.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendments; Modifications</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement may be amended or modified only with the consent of the Company and the Partnership; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that any such amendment or modification materially and adversely affecting the rights of the Grantee hereunder must be consented to by the Grantee to be effective as against him; and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, that the Grantee acknowledges that the Stock Plan may be amended or discontinued in accordance with Section&#160;6.6 thereof and that this Agreement may be amended or canceled by the Committee, on behalf of the Company and the Partnership, for the purpose of satisfying changes in law or for any other lawful purpose, so long as no such action shall impair the Grantee&#8217;s rights under this Agreement without the Grantee&#8217;s written consent.  Notwithstanding the foregoing, this Agreement may be amended in writing signed only by the Company to correct any errors or ambiguities in this Agreement and/or to make such changes that do not materially adversely affect the Grantee&#8217;s rights hereunder.  No promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by the parties which are not set forth expressly in this Agreement.  This grant shall in no way affect the Grantee&#8217;s participation or benefits under any other plan or benefit program maintained or provided by the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incorporation of Stock Plan; Committee Determinations</font><font style="font-family:inherit;font-size:12pt;">.  The provisions of the Stock Plan are hereby incorporated by reference as if set forth herein.  In the event of a conflict between this Agreement and the Stock Plan, this Agreement shall be controlling and determinative.  The Committee will make the determinations and certifications required by this Award as promptly as reasonably practicable following the occurrence of the event or events necessitating such determinations or certifications.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Status as a Partner</font><font style="font-family:inherit;font-size:12pt;">.  As of the grant date set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule&#160;A</font><font style="font-family:inherit;font-size:12pt;">, the Grantee shall be admitted as a partner of the Partnership with beneficial ownership of the number of Award [2016] LTIP Units (SB) issued to the Grantee as of such date pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof by: (A)&#160;signing and delivering to the Partnership a copy of this Agreement; and (B)&#160;signing, as a Limited Partner, and delivering to the Partnership a counterpart signature page to the Partnership Agreement (attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;A</font><font style="font-family:inherit;font-size:12pt;">).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Status of Award [2016] LTIP Units (SB) under the Stock Plan</font><font style="font-family:inherit;font-size:12pt;">.  Insofar as the LTIP has been established as an incentive program of the Company and the Partnership, the Award [2016] LTIP Units (SB) are both issued as equity securities of the Partnership and granted as awards under the Stock Plan.  The Company will have the right at its option, as set forth in the Partnership Agreement, to issue shares of Common Stock in exchange for Units into which Award [2016] LTIP Units (SB) may have been converted pursuant to the Partnership Agreement, subject to certain limitations set forth in the Partnership Agreement, and such shares of Common Stock, if issued, will be issued under the Stock Plan.  The Grantee must be eligible to receive the Award [2016] LTIP Units (SB) in compliance with applicable federal and state securities laws </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">10</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">and to that effect is required to complete, execute and deliver certain covenants, representations and warranties (attached as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;B</font><font style="font-family:inherit;font-size:12pt;">).  The Grantee acknowledges that the Grantee will have no right to approve or disapprove such determination by the Committee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Legend</font><font style="font-family:inherit;font-size:12pt;">.  The records of the Partnership evidencing the Award [2016] LTIP Units (SB) shall bear an appropriate legend, as determined by the Partnership in its sole discretion, to the effect that such Award [2016] LTIP Units (SB) are subject to restrictions as set forth herein, in the Stock Plan and in the Partnership Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Compliance With Securities Laws</font><font style="font-family:inherit;font-size:12pt;">.  The Partnership and the Grantee will make reasonable efforts to comply with all applicable securities laws.  In addition, notwithstanding any provision of this Agreement to the contrary, no Award [2016] LTIP Units (SB) will become vested or be issued at a time that such vesting or issuance would result in a violation of any such laws.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investment Representations; Registration</font><font style="font-family:inherit;font-size:12pt;">.  The Grantee hereby makes the covenants, representations and warranties set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;B</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto.  All of such covenants, warranties and representations shall survive the execution and delivery of this Agreement by the Grantee.  The Partnership will have no obligation to register under the Securities Act any Award [2016] LTIP Units (SB) or any other securities issued pursuant to this Agreement or upon conversion or exchange of Award [2016] LTIP Units (SB).  The Grantee agrees that any resale of the shares of Common Stock received upon the exchange of Units into which Award [2016] LTIP Units (SB) may be converted shall not occur during the &#8220;blackout periods&#8221; forbidding sales of Company securities, as set forth in the then applicable Company employee manual or insider trading policy.  In addition, any resale shall be made in compliance with the registration requirements of the Securities Act or an applicable exemption therefrom, including, without limitation, the exemption provided by Rule&#160;144 promulgated thereunder (or any successor rule).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;83(b) Election</font><font style="font-family:inherit;font-size:12pt;">.  In connection with the issuance of Award [2016] LTIP Units (SB) under this Award pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof the Grantee may (but is not required to) make an election to include in gross income in the year of transfer the applicable Award [2016] LTIP Units (SB) pursuant to Section&#160;83(b) of the Code substantially in the form attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;C</font><font style="font-family:inherit;font-size:12pt;">&#32;and, if such an election is made, the Grantee shall provide to the Company a copy thereof and supply to the Company such other information as the Company is required to maintain or file in accordance with the regulations promulgated thereunder. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Severability</font><font style="font-family:inherit;font-size:12pt;">.  If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not so held invalid, and each such other provision shall to the full extent consistent with law continue in full force and effect.  If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement, shall to the full extent consistent with law continue in full force and effect.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">11</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement is made under, and will be construed in accordance with, the laws of the State of Delaware, without giving effect to the principles of conflict of laws of such state.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Obligation to Continue Position as an Employee, Consultant or Advisor</font><font style="font-family:inherit;font-size:12pt;">.  Neither the Company nor any affiliate is obligated by or as a result of this Agreement to continue to have the Grantee as an employee, consultant or advisor and this Agreement shall not interfere in any way with the right of the Company or any affiliate to terminate the Grantee&#8217;s service relationship at any time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notices</font><font style="font-family:inherit;font-size:12pt;">.  Any notice to be given to the Company shall be addressed to the Secretary of the Company at its principal place of business and any notice to be given the Grantee shall be addressed to the Grantee at the Grantee&#8217;s address as it appears on the employment records of the Company, or at such other address as the Company or the Grantee may hereafter designate in writing to the other.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Withholding and Taxes</font><font style="font-family:inherit;font-size:12pt;">.  No later than the date as of which an amount first becomes includible in the gross income of the Grantee for income tax purposes or subject to the Federal Insurance Contributions Act withholding with respect to this Award, the Grantee will pay to the Company or, if appropriate, any of its affiliates, or make arrangements satisfactory to the Committee regarding the payment of, any United States federal, state or local or foreign taxes of any kind required by law to be withheld with respect to such amount.  The obligations of the Company under this Agreement will be conditional on such payment or arrangements, and the Company and its affiliates shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Headings</font><font style="font-family:inherit;font-size:12pt;">.  The headings of paragraphs hereof are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Counterparts</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement may be executed in multiple counterparts with the same effect as if each of the signing parties had signed the same document.  All counterparts shall be construed together and constitute the same instrument.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(p)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Successors and Assigns</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and any successors to the Company and the Partnership, on the one hand, and any successors to the Grantee, on the other hand, by will or the laws of descent and distribution, but this Agreement shall not otherwise be assignable or otherwise subject to hypothecation by the Grantee.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(q)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">409A</font><font style="font-family:inherit;font-size:12pt;">. This Agreement shall be construed, administered and interpreted in accordance with a good faith interpretation of Section&#160;409A of the Code.  Any provision of this Agreement that is inconsistent with Section&#160;409A of the Code, or that may result in penalties under Section&#160;409A of the Code, shall be amended, in consultation with the Grantee and with the reasonable cooperation of the Grantee and the Company, in the least restrictive manner necessary to (i)&#160;exclude the Award [2016] LTIP Units (SB) from the definition of &#8220;deferred compensation&#8221; </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">12</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">within the meaning of such Section&#160;409A or (ii)&#160;comply with the provisions of Section&#160;409A, other applicable provision(s) of the Code and/or any rules, regulations or other regulatory guidance issued under such statutory provisions, in each case without diminution in the value of the benefits granted hereby to the Grantee. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(r)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Complete Agreement</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement (together with those agreements and documents expressly referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and supersede any and all prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">[signature page follows]</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">13</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, the undersigned have caused this Award Agreement to be executed as of the 1</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">st</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;day of January, [2016].</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THE MACERICH COMPANY</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THE MACERICH PARTNERSHIP, L.P.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:336px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:288px;"><font style="font-family:inherit;font-size:12pt;">By:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Macerich Company, <br>its general partner</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRANTEE</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s3AE0CD4158B145AA94C4544F2C5A2004"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT A</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FORM OF LIMITED PARTNER SIGNATURE PAGE</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee, desiring to become one of the within named Limited Partners of The Macerich Company, L.P., hereby accepts all of the terms and conditions of (including, without limitation, the provisions related to powers of attorney), and becomes a party to, the Agreement of Limited Partnership, dated as of March 16, 1994, of The Macerich Partnership, L.P., as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  The Grantee agrees that this signature page may be attached to any counterpart of the Partnership Agreement and further agrees as follows (where the term &#8220;Limited Partner&#8221; refers to the Grantee:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;The Limited Partner hereby confirms that it has reviewed the terms of the Partnership Agreement and affirms and agrees that it is bound by each of the terms and conditions of the Partnership Agreement, including, without limitation, the provisions thereof relating to limitations and restrictions on the transfer of Partnership Units.  Without limitation of the foregoing, the Limited Partner is deemed to have made all of the acknowledgements, waivers and agreements set forth in Sections&#160;10.6 and 13.11 of the Partnership Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;The Limited Partner hereby confirms that it is acquiring the Partnership Units for its own account as principal, for investment and not with a view to resale or distribution, and that the Partnership Units may not be transferred or otherwise disposed of by the Limited Partner otherwise than in a transaction pursuant to a registration statement filed by the Partnership (which it has no obligation to file) or that is exempt from the registration requirements of the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Securities Act</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and all applicable state and foreign securities laws, and the General Partner may refuse to transfer any Partnership Units as to which evidence of such registration or exemption from registration satisfactory to the General Partner is not provided to it, which evidence may include the requirement of a legal opinion regarding the exemption from such registration.  If the General Partner delivers to the Limited Partner shares of common stock of the General Partner (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;) upon redemption of any Partnership Units, the Common Shares will be acquired for the Limited Partner&#8217;s own account as principal, for investment and not with a view to resale or distribution, and the Common Shares may not be transferred or otherwise disposed of by the Limited Partner otherwise than in a transaction pursuant to a registration statement filed by the General Partner with respect to such Common Shares (which it has no obligation under the Partnership Agreement to file) or that is exempt from the registration requirements of the Securities Act and all applicable state and foreign securities laws, and the General Partner may refuse to transfer any Common Shares as to which evidence of such registration or exemption from such registration satisfactory to the General Partner is not provided to it, which evidence may include the requirement of a legal opinion regarding the exemption from such registration.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.&#160;&#160;&#160;&#160;The Limited Partner hereby affirms that it has appointed the General Partner, any liquidator and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead, in accordance with Section&#160;6.10 of the Partnership Agreement, which section is hereby incorporated by reference.  The foregoing power of attorney is hereby declared to be irrevocable and a power coupled with an interest, and it shall survive and not be affected by the death, incompetency, dissolution, disability, incapacity, bankruptcy or termination of the Limited Partner and shall extend to the Limited Partner&#8217;s heirs, executors, administrators, legal representatives, successors and assigns.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.&#160;&#160;&#160;&#160;The Limited Partner hereby irrevocably consents in advance to any amendment to the Partnership Agreement, as may be recommended by the General Partner, intended to avoid the Partnership being treated as a publicly-traded partnership within the meaning of Section&#160;7704 of the Internal Revenue Code, including, without limitation, (a)&#160;any amendment to the provisions of Section&#160;9.1 or the Redemption Rights Exhibit of the Partnership Agreement intended to increase the waiting period between the delivery of a notice of redemption and the redemption date to up to sixty (60) days or (b)&#160;any other amendment to the Partnership Agreement intended to make the redemption and transfer provisions, with respect to certain redemptions and transfers, more similar to the provisions described in Treasury Regulations Section&#160;1.7704 1(f).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.&#160;&#160;&#160;&#160;The Limited Partner hereby appoints the General Partner, any Liquidator and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead, to execute and deliver any amendment referred to in the foregoing paragraph 4(a) on the Limited Partner&#8217;s behalf.  The foregoing power of attorney is hereby declared to be irrevocable and a power coupled with an interest, and it shall survive and not be affected by the death, incompetency, dissolution, disability, incapacity, bankruptcy or termination of the Limited Partner and shall extend to the Limited Partner&#8217;s heirs, executors, administrators, legal representatives, successors and assigns.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.&#160;&#160;&#160;&#160;The Limited Partner agrees that it will not transfer any interest in the Partnership Units (i)&#160;through a national, non-U.S., regional, local or other securities exchange or (ii)&#160;an over-the-counter market (including an interdealer quotation system that regularly disseminates firm buy or sell quotations by identified brokers or dealers by electronic means or otherwise) or (iii)&#160;to or through (a)&#160;a person, such as a broker or dealer, that makes a market in, or regularly quotes prices for, interests in the Partnership or (b)&#160;a person that regularly makes available to the public (including customers or subscribers) bid or offer quotes with respect to any interests in the Partnership and stands ready to effect transactions at the quoted prices for itself or on behalf of others. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.&#160;&#160;&#160;&#160;The Limited Partner acknowledges that the General Partner shall be a third party beneficiary of the representations, covenants and agreements set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof.  The Limited Partner agrees that it will transfer, whether by assignment or otherwise, Partnership Units only to the General Partner or to transferees that provide the Partnership and the General Partner with the representations and covenants set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.&#160;&#160;&#160;&#160;This Acceptance shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of law.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Signature Line for Limited Partner:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date:  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Address of Limited Partner:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="sD024067C7F1D421EFF86544F2C7C37B8"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT B</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GRANTEE&#8217;S COVENANTS, REPRESENTATIONS AND WARRANTIES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee hereby represents, warrants and covenants as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;The Grantee has received and had an opportunity to review the following documents (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Background Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;The Company&#8217;s latest Annual Report to Stockholders; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;The Company&#8217;s Proxy Statement for its most recent Annual Meeting of Stockholders; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;&#160;&#160;&#160;The Company&#8217;s Report on Form 10-K for the fiscal year most recently ended;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)&#160;&#160;&#160;&#160;The Company&#8217;s Form 10-Q, if any, for the most recently ended quarter filed by the Company with the Securities and Exchange Commission since the filing of the Form 10-K described in clause (iii) above;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)&#160;&#160;&#160;&#160;Each of the Company&#8217;s Current Report(s) on Form 8-K, if any, filed since the end of the fiscal year most recently ended for which a Form 10-K has been filed by the Company;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)&#160;&#160;&#160;&#160;The Partnership Agreement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vii)&#160;&#160;&#160;&#160;The Stock Plan; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(viii)&#160;&#160;&#160;&#160;The Company&#8217;s Articles of Amendment and Restatement, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee also acknowledges that any delivery of the Background Documents and other information relating to the Company and the Partnership prior to the determination by the Partnership of the suitability of the Grantee as a holder of Award [2016] LTIP Units (SB) shall not constitute an offer of Award [2016] LTIP Units (SB) until such determination of suitability shall be made.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;The Grantee hereby represents and warrants that </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;The Grantee either (A) is an &#8220;accredited investor&#8221; as defined in Rule 501(a) under the Securities Act, or (B) by reason of the business and financial experience of the Grantee, together with the business and financial experience of those persons, if any, retained by the Grantee to represent or advise him with respect to the grant to him of Award [2016] LTIP Units (SB), the potential conversion of Award [2016] LTIP Units (SB) into units of limited partnership of the Partnership (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Units</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and the potential redemption of such Common Units for shares the Company&#8217;s common stock (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REIT Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;), has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that the Grantee (I)&#160;is capable of evaluating the merits and risks of an investment in the Partnership and potential investment in the Company and of making an informed investment decision, (II)&#160;is capable of protecting his own interest or has engaged representatives or advisors to assist him in protecting his interests, and (III)&#160;is capable of bearing the economic risk of such investment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;The Grantee, after due inquiry, hereby certifies that for purposes of Rule 506(d) and Rule 506(e) of the Securities Act, he is not subject to any felony or misdemeanor conviction related to any securities matter; any federal or state order, judgment, decree or injunction related to any securities, insurance, banking or U.S. Postal Service matter; any SEC disciplinary or cease and desist order; or any suspension, expulsion or bar related to a registered national securities exchange, national or affiliated securities association or member thereof, whether it occurred or was issued before, on or after September 23, 2013, and agrees that he will notify the Company immediately upon becoming aware that the foregoing is not, or is no longer, complete and accurate in every material respect, including as a result of events occurring after the date hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;&#160;&#160;&#160;The Grantee understands that (A)&#160;the Grantee is responsible for consulting his own tax advisors with respect to the application of the U.S. federal income tax laws, and the tax laws of any state, local or other taxing jurisdiction to which the Grantee is or by reason of the award of Award [2016] LTIP Units (SB) may become subject, to his particular situation; (B)&#160;the Grantee has not received or relied upon business or tax advice from the Company, the Partnership or any of their respective employees, agents, consultants or advisors, in their capacity as such; (C)&#160;the Grantee provides services to the Partnership on a regular basis and in such capacity has access to such information, and has such experience of and involvement in the business and operations of the Partnership, as the Grantee believes to be necessary and appropriate to make an informed decision to accept the award of Award [2016] LTIP Units (SB); and (D)&#160;an investment in the Partnership and/or the Company involves substantial risks.  The Grantee has been given the opportunity to make a thorough investigation of matters relevant to the Award [2016] LTIP Units (SB) and has been furnished with, and has reviewed and understands, materials relating to the Partnership and the Company and their respective activities (including, but not limited to, the Background Documents).  The Grantee has been afforded the opportunity to obtain any additional information (including any exhibits to the Background Documents) deemed necessary by the Grantee to verify the accuracy of information conveyed to the Grantee.  The Grantee confirms that all documents, records, and books pertaining to his receipt of Award [2016] LTIP Units (SB) which were requested by the Grantee have been made available or delivered to the Grantee.  The Grantee has had an opportunity to ask questions of and receive answers from the Partnership and the Company, or from a person or persons acting on their behalf, concerning the terms and conditions of the Award [2016] LTIP Units (SB).  </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">The Grantee has relied upon, and is making its decision solely upon, the Background Documents and other written information provided to the Grantee by the Partnership or the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)&#160;&#160;&#160;&#160;The Award [2016] LTIP Units (SB) to be issued, the Common Units issuable upon conversion of the Award [2016] LTIP Units (SB) and any REIT Shares issued in connection with the redemption of any such Common Units will be acquired for the account of the Grantee for investment only and not with a current view to, or with any intention of, a distribution or resale thereof, in whole or in part, or the grant of any participation therein, without prejudice, however, to the Grantee&#8217;s right (subject to the terms of the Award [2016] LTIP Units (SB), the Stock Plan, the agreement of limited partnership of the Partnership, the articles of organization of the Company, as amended, and the Award Agreement) at all times to sell or otherwise dispose of all or any part of his Award [2016] LTIP Units (SB), Common Units or REIT Shares in compliance with the Securities Act, and applicable state securities laws, and subject, nevertheless, to the disposition of his assets being at all times within his control.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)&#160;&#160;&#160;&#160;The Grantee acknowledges that (A) neither the Award [2016] LTIP Units (SB) to be issued, nor the Common Units issuable upon conversion of the Award [2016] LTIP Units (SB), have been registered under the Securities Act or state securities laws by reason of a specific exemption or exemptions from registration under the Securities Act and applicable state securities laws and, if such Award [2016] LTIP Units (SB) or Common Units are represented by certificates, such certificates will bear a legend to such effect, (B)&#160;the reliance by the Partnership and the Company on such exemptions is predicated in part on the accuracy and completeness of the representations and warranties of the Grantee contained herein, (C)&#160;such Award [2016] LTIP Units (SB) or Common Units, therefore, cannot be resold unless registered under the Securities Act and applicable state securities laws, or unless an exemption from registration is available, (D)&#160;there is no public market for such Award [2016] LTIP Units (SB) and Common Units and (E)&#160;neither the Partnership nor the Company has any obligation or intention to register such Award [2016] LTIP Units (SB) or the Common Units issuable upon conversion of the Award [2016] LTIP Units (SB) under the Securities Act or any state securities laws or to take any action that would make available any exemption from the registration requirements of such laws, except, that, upon the redemption of the Common Units for REIT Shares, the Company may issue such REIT Shares under the Stock Plan and pursuant to a Registration Statement on Form S&#8209;8 under the Securities Act, to the extent that (I)&#160;the Grantee is eligible to receive such REIT Shares under the Stock Plan at the time of such issuance, (II)&#160;the Company has filed a Form S&#8209;8 Registration Statement with the Securities and Exchange Commission registering the issuance of such REIT Shares and (III)&#160;such Form S&#8209;8 is effective at the time of the issuance of such REIT Shares.  The Grantee hereby acknowledges that because of the restrictions on transfer or assignment of such Award [2016] LTIP Units (SB) acquired hereby and the Common Units issuable upon conversion of the Award [2016] LTIP Units (SB) which are set forth in the Partnership Agreement or this Agreement, the Grantee may have to bear the economic risk of his ownership of the Award [2016] LTIP Units (SB) acquired hereby and the Common Units issuable upon conversion of the Award [2016] LTIP Units (SB) for an indefinite period of time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)&#160;&#160;&#160;&#160;The Grantee has determined that the Award [2016] LTIP Units (SB) are a suitable investment for the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vii)&#160;&#160;&#160;&#160;No representations or warranties have been made to the Grantee by the Partnership or the Company, or any officer, director, stockholder, agent, or affiliate of any of them, and the Grantee has received no information relating to an investment in the Partnership or the Award [2016] LTIP Units (SB) except the information specified in paragraph&#160;(b) above.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;So long as the Grantee holds any Award [2016] LTIP Units (SB), the Grantee shall disclose to the Partnership in writing such information as may be reasonably requested with respect to ownership of Award [2016] LTIP Units (SB) as the Partnership may deem reasonably necessary to ascertain and to establish compliance with provisions of the Code, applicable to the Partnership or to comply with requirements of any other appropriate taxing authority.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;The Grantee hereby agrees to make an election under Section&#160;83(b) of the Code with respect to the Award [2016] LTIP Units (SB) awarded hereunder, and has delivered with this Agreement a completed, executed copy of the election form attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;C</font><font style="font-family:inherit;font-size:12pt;">.  The Grantee agrees to file the election (or to permit the Partnership to file such election on the Grantee&#8217;s behalf) within thirty (30) days after the award of the Award [2016] LTIP Units (SB) hereunder with the IRS Service Center at which such Grantee files his personal income tax returns, and to file a copy of such election with the Grantee&#8217;s U.S. federal income tax return for the taxable year in which Award [2016] LTIP Units (SB) are issued or awarded to the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)&#160;&#160;&#160;&#160;The address set forth on the signature page of this Agreement is the address of the Grantee&#8217;s principal residence, and the Grantee has no present intention of becoming a resident of any country, state or jurisdiction other than the country and state in which such residence is sited.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s357AA559769192E6F8D3544F2CAF6584"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT C</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ELECTION TO INCLUDE IN GROSS INCOME IN YEAR OF <br>TRANSFER OF PROPERTY PURSUANT TO SECTION&#160;83(b) <br>OF THE INTERNAL REVENUE CODE</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The undersigned hereby makes an election pursuant to Section&#160;83(b) of the Internal Revenue Code of 1986</font><font style="font-family:inherit;font-size:12pt;">, as amended, Treasury Regulations Section 1.83-2 promulgated thereunder, and Rev. Proc. 2012-29, 2012-28 IRB, 06/26/2012, to include in gross income as compensation for services the excess (if any) of the fair market value of the property described below over the amount paid for such property.</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The name, address and taxpayer identification number of the undersigned are:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_____________________ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Taxpayer</font><font style="font-family:inherit;font-size:12pt;">&#8221;)</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Address: &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;text-indent:480px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Social Security No./Taxpayer Identification No.:  _____________</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Taxable Year: Calendar Year [2016]</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Description of property with respect to which the election is being made:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The election is being made with respect to __________ [2016] LTIP Units (SB) in The Macerich Partnership, L.P. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The date on which the [2016] LTIP Units (SB) were transferred to the undersigned is ___________, [2016].  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Nature of restrictions to which the [2016] LTIP Units (SB) are subject:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Until the [2016] LTIP Units (SB) vest, the Taxpayer may not transfer in any manner any portion of the [2016] LTIP Units (SB) without the consent of the Partnership.  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Taxpayer&#8217;s [2016] LTIP Units (SB) vest in accordance with the vesting provisions described in the Schedule attached hereto.  Unvested [2016] LTIP Units (SB) are forfeited in accordance with the vesting provisions described in the Schedule attached hereto.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The fair market value at time of transfer (determined without regard to any restrictions other than </font><font style="font-family:inherit;font-size:12pt;">a nonlapse restriction as defined in Treasury Regulations Section 1.83-3(h)</font><font style="font-family:inherit;font-size:12pt;">) of the [2016] LTIP Units (SB) with respect to which this election is being made was $0 per [2016] LTIP Unit (SB).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The amount paid by the Taxpayer for the [2016] LTIP Units (SB) was $0 per [2016] LTIP Unit (SB).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The amount to include in gross income is $0.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The undersigned taxpayer will file this election with the Internal Revenue Service office with which taxpayer files his or her annual income tax return not later than 30 days after the date of transfer of the property. A copy of the election also will be furnished to the person for whom the services were performed. Additionally, the undersigned will include a copy of the election with his or her income tax return for the taxable year in which the property is transferred. The undersigned is the person performing the services in connection with which the property was transferred.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dated:  _____________________</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:521px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;text-indent:521px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div><a name="s62057B694DE915AAA455544F2CCFABD0"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">SCHEDULE TO 83(b) ELECTION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Vesting Provisions of [2016] LTIP Units (SB)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">LTIP Units are subject to service-based vesting with 33 1/3% of such units vesting on [December&#160;30, 2016], [December&#160;29, 2017] and [December&#160;31, 2018].  The above vesting is conditioned upon the Taxpayer remaining an employee of The Macerich Company (the &#8220;Company&#8221;) through the applicable vesting dates, and subject to acceleration or continued vesting in the event of a change of control of the Company or termination of the Taxpayer&#8217;s service relationship with the Company under specified circumstances.  Unvested LTIP Units are subject to forfeiture in the event of failure to vest based on the passage of time and continued employment with the Company or its subsidiaries.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="sB621671E60301A72BF43544F2D00ED26"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SCHEDULE A TO [2016] LTIP UNIT AWARD AGREEMENT <br>(SERVICE-BASED)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:57%;"></td><td style="width:43%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date of Award Agreement:</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">January 1, [2016]</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name of Grantee:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of [2016] LTIP Units (SB) Subject to Grant:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Grant Date:</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">January 1, [2016]</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Schedule</font><font style="font-family:inherit;font-size:12pt;">:</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-left:1px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:32%;"></td><td style="width:35%;"></td><td style="width:32%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:16px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Vesting Date</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of Award LTIP Units Becoming Vested</font></div></td><td colspan="2" style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Cumulative</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Percentage Vested</font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[December 30, 2016]</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;padding-left:49px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________ (33 1/3%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">33 1/3%</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[December 29, 2017]</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;padding-left:49px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________ (33 1/3%)   (25%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">66 2/3%</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[December 31, 2018]</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;padding-left:49px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">________ (33 1/3%)   (25%)</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;border-left:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">100</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-right:46px;padding-top:2px;padding-bottom:2px;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">%</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Initials of Company representative:  _________</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Initials of Grantee:  _________</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">14</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>mac-3312016xexhibit102.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s0E72BCE6E6F35245310E544BAA59B15A"></a></div><div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THE MACERICH COMPANY</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">[2016] LTIP UNIT AWARD AGREEMENT  <br>(PERFORMANCE-BASED)</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[2016] LTIP UNIT AWARD AGREEMENT (Performance-Based) made as of the date set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto between The Macerich Company, a Maryland corporation (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;), its subsidiary The Macerich Partnership, L.P., a Delaware limited partnership and the entity through which the Company conducts substantially all of its operations (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and the party listed on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;(the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Grantee</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;The Grantee is a key employee of the Company or one of its Subsidiaries or affiliates and provides services to the Partnership.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;Pursuant to its Long-Term Incentive Plan (&#8220;LTIP&#8221;) the Company can award units of limited partnership interest of the Partnership designated as &#8220;LTIP Units&#8221; in the Partnership Agreement (as defined herein) under The Macerich Company 2003 Equity Incentive Plan, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">2003 Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;), to provide certain key employees of the Company or its Subsidiaries and affiliates, including the Grantee, in connection with their employment with the long-term incentive compensation described in this Award Agreement (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; or &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and thereby provide additional incentive for them to promote the progress and success of the business of the Company and its Subsidiaries and affiliates, including the Partnership, while increasing the total return to the Company&#8217;s stockholders.  [2016] LTIP Units (PB) (as defined herein) have been awarded by the Compensation Committee (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Committee</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of the Board of Directors of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Board</font><font style="font-family:inherit;font-size:12pt;">&#8221;) pursuant to authority delegated to it by the Board as set forth in the Committee&#8217;s charter, including authority to make grants of equity interests in the Partnership which may, under certain circumstances, become exchangeable for shares of the Company&#8217;s Common Stock reserved for issuance under the 2003 Plan, or any successor equity plan (as any such plan may be amended, modified or supplemented from time to time, collectively the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Stock Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  This Agreement evidences an award to the Grantee under the LTIP (this &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award</font><font style="font-family:inherit;font-size:12pt;">&#8221;), which is subject to the terms and conditions set forth herein.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">C.&#160;&#160;&#160;&#160;The Grantee was selected by the Committee to receive this Award as one of a select group of highly compensated or management employees who, through the effective execution of their assigned duties and responsibilities, are in a position to have a direct and measurable impact on the Company&#8217;s long-term financial results.  Effective as of the grant date specified in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto, the Committee awarded to the Grantee the number of [2016] LTIP Units (PB) (as defined herein) set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">NOW, THEREFORE</font><font style="font-family:inherit;font-size:12pt;">, the Company, the Partnership and the Grantee agree as follows:  </font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;text-indent:48px;"><font style="padding-bottom:16px;text-align:left;font-family:inherit;font-size:12pt;color:#010000;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Administration</font><font style="font-family:inherit;font-size:12pt;">.  The LTIP and all awards thereunder, including this Award, shall be administered by the Committee, which in the administration of the LTIP shall have all the powers and authority it has in the administration of the Stock Plan, as set forth in the Stock Plan.  The Committee may from time to time adopt any rules or procedures it deems necessary or </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:left;"><font style="font-family:inherit;font-size:12pt;">desirable for the proper and efficient administration of the LTIP, consistent with the terms hereof and of the Stock Plan.  The Committee&#8217;s determinations and interpretations with respect to the LTIP and this Agreement shall be final and binding on all parties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Definitions</font><font style="font-family:inherit;font-size:12pt;">.  Capitalized terms used herein without definitions shall have the meanings given to those terms in the Stock Plan.  In addition, as used herein:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award [2016] LTIP Units (PB)</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3(a)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cause</font><font style="font-family:inherit;font-size:12pt;">&#8221; for termination of the Grantee&#8217;s employment means that the Company, acting in good faith based upon the information then known to the Company, determines that the Grantee has:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;failed to perform in a material respect without proper cause his obligations under the Grantee&#8217;s Service Agreement (if one exists);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;been convicted of or pled guilty or </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">nolo contendere</font><font style="font-family:inherit;font-size:12pt;">&#32;to a felony; or</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;committed an act of fraud, dishonesty or gross misconduct which is materially injurious to the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Applicable Board (as defined below) or upon the instructions of the Chief Executive Officer of the Company or based upon the advice of counsel or independent accountants for the Company shall be conclusively presumed for purposes of this Agreement to be done, or omitted to be done, by the Grantee in good faith and in the best interests of the Company.  The cessation of employment of the Grantee shall not be deemed to be for Cause under clause (a) or (c) above unless and until there shall have been delivered to the Grantee a copy of a resolution duly adopted by the affirmative vote of at least a majority of the entire membership of the Applicable Board (excluding the Grantee and any relative of the Grantee, if the Grantee or such relative is a member of the Applicable Board) at a meeting of the Applicable Board called and held for such purpose (after reasonable notice is provided to the Grantee and the Grantee is given an opportunity, together with counsel for the Grantee, to be heard before the Applicable Board), finding that, in the good faith opinion of the Applicable Board, the Grantee is guilty of the conduct described in clause (a) or (c) above, and specifying the particulars thereof in reasonable detail.  For purposes of the definition of Cause, &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Applicable Board</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Board or, if the Company is not the ultimate parent corporation of the Company and its Affiliates and is not publicly-traded, the board of directors of the ultimate parent of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Change of Control</font><font style="font-family:inherit;font-size:12pt;">&#8221; means any of the following:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;The acquisition by any Person of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 33% or more of either (A) the then-outstanding shares of common stock of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Outstanding Company Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221;) or (B) the combined voting power of the then-outstanding voting securities of the Company entitled to vote generally in the election of directors (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Outstanding Company </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Voting Securities</font><font style="font-family:inherit;font-size:12pt;">&#8221;); provided, however, that, for purposes of this definition, the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any affiliate of the Company or successor or (iv) any acquisition by any entity pursuant to a transaction that complies with (c)(i), (c)(ii) and (c)(iii) below;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;Individuals who, as of the date hereof, constitute the Board (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incumbent Board</font><font style="font-family:inherit;font-size:12pt;">&#8221;) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company&#8217;s stockholders, was approved by a vote of at least two-thirds of the directors then comprising the Incumbent Board (including for these purposes, the new members whose election or nomination was so approved, without counting the member and his predecessor twice) shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;Consummation of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or stock of another entity by the Company or any of its subsidiaries (each, a &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Business Combination</font><font style="font-family:inherit;font-size:12pt;">&#8221;), in each case unless, following such Business Combination, (i) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 60% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Company or all or substantially all of the Company&#8217;s assets directly or through one or more subsidiaries (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Parent</font><font style="font-family:inherit;font-size:12pt;">&#8221;)) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities, as the case may be, (ii) no Person (excluding any entity resulting from such Business Combination or a Parent or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination or Parent) beneficially owns, directly or indirectly, 20% or more of, respectively, the then-outstanding shares of common stock of the entity resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity, except to the extent that the ownership in excess of 20% existed prior to the Business Combination, and (iii) at least a majority of the members of the board of directors or trustees of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Board providing for such Business Combination; or</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Code</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Internal Revenue Code of 1986, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Stock</font><font style="font-family:inherit;font-size:12pt;">&#8221; means shares of the Company&#8217;s common stock, par value $0.01 per share, either currently existing or authorized hereafter.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Competitive Activities</font><font style="font-family:inherit;font-size:12pt;">&#8221; means that the Grantee, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engages, participates, assists or invests in any Competing Business (as hereinafter defined).  The term &#8220;Competing Business&#8221; shall mean a publicly-traded real estate investment trust that is identified by the National Association of Real Estate Investment Trusts as a &#8220;mall REIT&#8221; (other than the Company or a surviving or resulting entity upon a Change of Control, or any of their respective affiliates).  Notwithstanding the foregoing, the Grantee may own equity securities of an entity which constitutes, or is affiliated with, a Competing Business, so long at their value does not exceed five percent (5%) of the aggregate equity market capitalization of the Competing Business.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Continuous Service</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the continuous service to the Company or any Subsidiary or affiliate, without interruption or termination, in any capacity of employee, or, with the written consent of the Committee, consultant.  Continuous Service shall not be considered interrupted in the case of (A) any approved leave of absence, (B) transfers among the Company and any Subsidiary or affiliate, or any successor, in any capacity of employee, or with the written consent of the Committee, consultant, or (C) any change in status as long as the individual remains in the service of the Company and any Subsidiary or affiliate in any capacity of employee, member of the Board or (if the Company specifically agrees in writing that the Continuous Service is not uninterrupted) a consultant.  An approved leave of absence shall include sick leave, military leave, or any other authorized personal leave.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Current Distributions</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;7(b)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Contingent Distributions</font><font style="font-family:inherit;font-size:12pt;">&#8221; has the meaning set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;7(c)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Disability</font><font style="font-family:inherit;font-size:12pt;">&#8221; means (A) a &#8220;permanent and total disability&#8221; within the meaning of Section&#160;22(e)(3) of the Code, or (B) the absence of the Grantee from his duties with the Company on a full-time basis for a period of nine months as a result of incapacity due to mental or physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to the Grantee or his legal representative (such agreements as to acceptability not to be unreasonably withheld).  &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incapacity</font><font style="font-family:inherit;font-size:12pt;">&#8221; as used herein shall be limited only to a condition that substantially prevents the Grantee from performing his or her duties.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221; means January 1, [2016].</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exchange Act</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Securities Exchange Act of 1934, as amended.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Fair Market Value</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, as of any given date, the fair market value of a security determined by the Committee using any reasonable method and in good faith (such determination will be made in a manner that satisfies Section&#160;409A of the Code and in good-faith as required by Section&#160;422(c)(1) of the Code); </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that (A) if the security is then listed on a national stock exchange, the fair market value of such security on any date shall be the closing sales price per Share on the principal national stock exchange on which the security is listed on such date (or, if such date is not a trading date on which there was a sale of such security on such exchange, the last preceding date on which there was a sale of such security on such exchange), (B) if the security is not then listed on a national stock exchange but is then traded on an over-the-counter market, the fair market value of such security on any date shall be the average of the closing bid and asked prices for such security in the principal over-the-counter market on which such security is traded on such date (or, if such date is not a trading date on which there was a sale of such security on such market, for the last preceding date on which there was a sale of such security in such market), or (C) if the security is not then listed on a national stock exchange or traded on an over-the-counter market, the fair market value of such security on any date shall be such value as the Committee in its discretion may in good faith determine; provided that, where Shares are so listed or traded, the Committee may make such discretionary determinations where Shares have not been traded for 10 trading days.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Good Reason</font><font style="font-family:inherit;font-size:12pt;">&#8221; means an action taken by the Company, without the Grantee&#8217;s written consent thereto, resulting in a material negative change in the employment relationship.  For these purposes, a &#8220;material negative change in the employment relationship&#8221; shall include, without limitation, any one or more of the following reasons, to the extent not remedied by the Company within 30 days after receipt by the Company of written notice from the Grantee provided to the Company within 90 days (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Cure Period</font><font style="font-family:inherit;font-size:12pt;">&#8221;) of the Grantee&#8217;s knowledge of the occurrence of an event or circumstance set forth in clauses (a) through (e) below specifying in reasonable detail such occurrence:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;the assignment to the Grantee of any duties materially inconsistent in any respect with the Grantee&#8217;s position (including status, offices, titles and reporting requirements), authority, duties or responsibilities, or any other material diminution in such position, authority, duties or responsibilities (whether or not occurring solely as a result of the Company&#8217;s ceasing to be a publicly traded entity);  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;a change in the Grantee&#8217;s principal office location to a location further away from the Grantee&#8217;s home which is more than 30 miles from the Grantee&#8217;s current principal office;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;the taking of any action by the Company to eliminate benefit plans in which the Grantee participated in or was eligible to participate in immediately prior to a Change of Control without providing substitutes therefor, to materially reduce benefits thereunder or to substantially diminish the aggregate value of the incentive awards or other fringe benefits; provided that if neither a surviving entity nor its parent following a Change of Control is a publicly-held company, the failure to provide stock-based benefits shall not be deemed good reason if benefits of comparable value using recognized valuation methodology are substituted </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">therefor; and provided further that a reduction or elimination in the aggregate of not more than 10% in aggregate benefits in connection with across the board reductions or modifications affecting similarly situated persons of executive rank in the Company or a combined organization shall not constitute Good Reason;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;any one or more reductions in the Grantee&#8217;s Base Salary that, individually or in the aggregate, exceed 10% of the Grantee&#8217;s Base Salary; or </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)&#160;&#160;&#160;&#160;any material breach by the Company of the Grantee&#8217;s Service Agreement (if one exists).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">In the event that the Company fails to remedy the condition constituting Good Reason during the applicable Cure Period, the Grantee&#8217;s &#8220;separation from service&#8221; (within the meaning of Section&#160;409A of the Code) must occur, if at all, within two years following the occurrence of such condition in order for such termination as a result of such condition to constitute a termination for Good Reason.  If the Grantee suffers a Disability or dies following the occurrence of any of the events described in clauses (a) through (e) above and the Grantee has given the Company the requisite written notice but the Company has failed to remedy the situation prior to such physical or mental incapacity or death, the Grantee&#8217;s physical or mental incapacity or death shall not affect the ability of the Grantee or his heirs or beneficiaries, as applicable, to treat the Grantee&#8217;s termination of employment as a termination for Good Reason.  For purposes of the definition of Good Reason, the term &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Base Salary</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the annual base rate of compensation payable to Grantee by the Company as of the Grantee&#8217;s date of termination, before deductions or voluntary deferrals authorized by the Grantee or required by law to be withheld from the Grantee by the Company.  Salary excludes all other extra pay such as overtime, pensions, severance payments, bonuses, stock incentives, living or other allowances, and other perquisites.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">[2016] LTIP Units (PB)</font><font style="font-family:inherit;font-size:12pt;">&#8221; means units of limited partnership interest of the Partnership designated as &#8220;LTIP Units&#8221; in the Partnership Agreement awarded pursuant to this Agreement under the LTIP having the rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption set forth in the Partnership Agreement.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partial Service Factor</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a factor carried out to the sixth decimal, but never greater than one (1.000000), to be used in calculating the number of Award [2016] LTIP Units (PB) that become vested pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof in the event of the Grantee&#8217;s Qualified Termination, death, Disability or Retirement during the Performance Period, determined by dividing (A) the number of calendar days that have elapsed since the Effective Date to and including the date of the Grantee&#8217;s Qualified Termination, death or Disability by (B) 365.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means the Amended and Restated Limited Partnership Agreement of the Partnership, dated as of March 16, 1994, among the Company, as general partner, and the limited partners who are parties thereto, as amended from time to time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Peer REIT</font><font style="font-family:inherit;font-size:12pt;">&#8221; means each of the business entities qualified as real estate investment trusts (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REITs</font><font style="font-family:inherit;font-size:12pt;">&#8221;) that are publicly-traded &#8220;equity REITs.&#8221;  It is the current intention of the Committee </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">to use the Peer REITs identified by the National Association of Real Estate Investment Trusts (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">NAREIT</font><font style="font-family:inherit;font-size:12pt;">&#8221;) to determine the Peer REIT Total Return for each Peer REIT.  If the Committee determines that NAREIT no longer identifies Peer REITs, or that NAREIT&#8217;s identification of Peer REITs is no longer suitable for the purposes of this Agreement, then the Committee in its good faith reasonable discretion shall select Peer REITs identified by another reputable business organization for purposes of this Agreement.  REITs classified as &#8220;mortgage REITs&#8221; are not included in the definition of Peer REIT.  The Committee may in its sole and absolute discretion exclude from the group of Peer REITs designated as set forth above, any REIT (A) that is in bankruptcy at any point during the Performance Period or (B) that did not qualify as a Peer REIT during the entire Performance Period.  In lieu of excluding such Peer REIT altogether, the Committee may adjust the calculation of Peer REIT Total Return for any REIT described in (A) or (B) of the preceding sentence, to the extent determined by the Committee in its reasonable discretion. The Committee does not have the discretion to adjust the Peer REIT Total Return for matters other than as described above.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Peer REIT Total Return</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, for a Peer REIT, with respect to the Performance Period, the absolute total stockholder return of the common equity of such Peer REIT during the Performance Period, calculated in the same manner as Total Return is calculated for the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Performance Period</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, the period commencing on (and including) January 1, [2016] and concluding on (and including) the earliest of (a) December 31, [2018], or (b) the date of a Change of Control. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">[&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Performance Period</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, the period commencing on (and including) January 1, [2016] and concluding on (and including) December 31, [2018].]</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Person</font><font style="font-family:inherit;font-size:12pt;">&#8221; means an individual, corporation, partnership, limited liability company, joint venture, association, trust, unincorporated organization, other entity or &#8220;group&#8221; (as defined in the Exchange Act).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Qualified Termination</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a termination of the Grantee&#8217;s employment (A) by the Company for no reason, or for any reason other than for Cause, death or Disability, or (B) by the Grantee for Good Reason.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Retirement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means: (A) if the Grantee is a party to a Service Agreement immediately prior to such event, and &#8220;Retirement&#8221; is defined therein, then &#8220;Retirement&#8221; shall have the meaning set forth in such Service Agreement, or (B) if the Grantee is not party to a Service Agreement immediately prior to such event and/or the Grantee&#8217;s Service Agreement does not define &#8220;Retirement,&#8221; then &#8220;Retirement&#8221; shall mean the Grantee&#8217;s voluntary termination of employment with the Company and its Subsidiaries after attainment of age 55 and completion of five (5) years of employment with the Company and/or a Subsidiary, provided that following Retirement the Grantee does not engage in Competitive Activities during the balance of the Performance Period; provided, however, that if the Grantee would be eligible for Retirement pursuant to clause (B) as of the date of this Agreement, the Grantee will not be entitled to the </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">benefits provided in this Agreement in the event of Retirement until the first anniversary of the date of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Service Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, as of a particular date, any employment, consulting or similar service agreement, including, without limitation, management continuity agreement, then in effect between the Grantee, on the one hand, and the Company or one of its affiliates, on the other hand, as amended or supplemented through such date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Share</font><font style="font-family:inherit;font-size:12pt;">&#8221; means a share of Common Stock, subject to adjustments pursuant to Section&#160;6.2 of the Stock Plan.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Share Price</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, as of a particular date, the Fair Market Value of one Share on such date (or, if such date is not a trading day, the most recent trading day immediately preceding such date); provided further, however, that if such date is the date upon which a Transactional Sale Event occurs, the Share Price as of such date shall be equal to the fair market value in cash, as determined by the Committee, of the total consideration paid or payable in the transaction resulting in the Transactional Sale Event for one Share.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Total Return</font><font style="font-family:inherit;font-size:12pt;">&#8221; means, with respect to the Performance Period, the compounded total annual return that would have been realized by a stockholder who (A) bought one Share on the first day of the Performance Period at the Share Price on the date immediately preceding such day, (B) reinvested each dividend and other distribution declared during such period of time with respect to such Share (and any other Shares previously received upon reinvestment of dividends or other distributions) in additional Shares at the Fair Market Value on the applicable dividend payment date, and (C) sold all the Shares described in clauses (A) and (B) on the last day of the Performance Period at the Share Price on such date.  As set forth in, and pursuant to, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;9</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof, appropriate adjustments to the Total Return shall be made to take into account all stock dividends, stock splits, reverse stock splits and the other events set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;9</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof that occur during the Performance Period.  In calculating Total Return, it is the current intention of the Committee to use total return to stockholders data for the Company and the Peer REITs available from one or more third party sources, though the Committee reserves the right in its reasonable discretion to retain the services of a consultant to analyze relevant data or perform necessary calculations for purposes of this Award.  If the Committee delegates the calculation of Total Return to a valuation or other expert, including matters such as the determination of dividend reinvestment and the inclusion or exclusion of REITs as Peer REITs, the Committee is entitled to rely on such valuation or other expert.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Transactional Sale Event</font><font style="font-family:inherit;font-size:12pt;">&#8221; means (A) a Change of Control described in clause (a) of the definition thereof as a result of a tender offer for Shares or (B) a Change of Control described in clause (c) of the definition thereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Units</font><font style="font-family:inherit;font-size:12pt;">&#8221; means Partnership Units (as defined in the Partnership Agreement) that are outstanding or are issuable upon the conversion, exercise, exchange or redemption of any securities of any kind convertible, exercisable, exchangeable or redeemable for Partnership Units. </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Award of [2016] LTIP Units (PB)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">On the terms and conditions set forth in this Agreement, as well as the terms and conditions of the Stock Plan, the Grantee is hereby granted this Award consisting of the number of [2016] LTIP Units (PB) set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">&#32;hereto, which is incorporated herein by reference (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Award [2016] LTIP Units (PB)</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">[2016] LTIP Units (PB) shall constitute and be treated as the property of the Grantee as of the applicable grant date, subject to the terms of this Agreement and the Partnership Agreement.  Every grant of [2016] LTIP Units (PB) to the Grantee pursuant to this Award shall be set forth in minutes of the meetings of the Committee.  [2016] LTIP Units (PB) will be: (A)&#160;subject to vesting and/or forfeiture to the extent provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">and</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">hereof; and (B) subject to restrictions on transfer as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;8</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">4.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Vesting of [2016] LTIP Units (PB)</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;Except as otherwise set forth in this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;below, the percentage of the Grantee&#8217;s Award [2016] LTIP Units (PB) that will become vested at the end of the Performance Period [or at such other date as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof] will be based on the percentile rank of the Company&#8217;s Total Return relative to the Peer REIT Total Return for the Peer REITs for the Performance Period as set forth below. </font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Percentile Rank</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Percentage of Award Earned</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At or above the 75</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">100% of the Award [2016] LTIP Units (PB)</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At the 50</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">66-2/3% of the Award [2016] LTIP Units (PB)</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At the 25</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">33-1/3% of the Award [2016] LTIP Units (PB)</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Below the 25</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0% of the Award [2016] LTIP Units (PB)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The percentile rank above shall be calculated using the following conventions: </font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Percentile Rank =&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">X</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Y</font></div><div style="line-height:120%;padding-bottom:8px;text-align:left;padding-left:48px;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Where:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">X = </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the number of Peer REITs with a Peer REIT Total Return lower than the Company&#8217;s Total Return during the Performance Period.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">Y = </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the total number of Peer REITs minus 1.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If Percentile Rank as calculated above is a not a whole number, then the award earned shall be calculated as if the calculation resulted in a percentile rank equal to the next higher whole integer.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">If the percentile rank falls between the 25th and 75th percentiles, the percentage of the Grantee&#8217;s Award [2016] LTIP Units (PB) that become vested will be calculated using linear interpolation, such that for every additional percentile of rank between the 25th and 75th percentiles an </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">9</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">additional 1.33334% of the Award [2016] LTIP Units (PB) will be earned.  For example: at the 34</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#32;percentile rank 45.334% of the Award [2016] LTIP Units (PB) will be earned {33.334% + [(9/25) x (33.334%)] = 45.334%}.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Subject to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof, vesting of the Grantee&#8217;s [2016] LTIP Units (PB) shall occur as of the last day of the Performance Period regardless of when the Committee completes its determination of percentile rank or any other calculations or assessments related to its determination of the vesting percentage.    </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For the avoidance of doubt, assuming no Change of Control (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">i.e.</font><font style="font-family:inherit;font-size:12pt;">&#32;the last day of the Performance period is December 31, [2018]), the intent of this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;is that (i) the Company&#8217;s Total Return will be calculated using as the first input the Share Price on December 31, 2015 and as the last input the Share Price on December 31, [2018], and (ii) each Peer REIT&#8217;s Total Return will be calculated in the same manner with respect to the common equity of each such Peer REIT. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;The Committee may, upon consideration of the statistical data for the Peer REITs relative to Peer REIT Total Return for the Performance Period, exercise its reasonable discretion to allow for vesting of Award [2016] LTIP Units (PB) under </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;on a basis other than a strict mathematical calculation of percentile rank to the extent appropriate in light of the circumstances.  By way of illustration, the foregoing would allow the Committee to provide for vesting to occur at a particular level if the Peer REIT Total Return of a number of Peer REITs is clustered within a narrow range such that the effect of the precise calculation of percentile rank would be that vesting would not occur or occur at a lower level.  The Committee does not have the discretion to adjust downward the vesting of Award [2016] LTIP Units (PB).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;Any Award [2016] LTIP Units (PB) that do not become vested pursuant to this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;shall, without payment of any consideration by the Partnership, automatically and without notice terminate, be forfeited and be and become null and void as of the end of the Performance Period, and neither the Grantee nor any of his successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such unvested Award [2016] LTIP Units (PB).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">5.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Change of Control or Termination of Grantee&#8217;s Service Relationship</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If the Grantee is a party to a Service Agreement, the provisions of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;5(b)</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5(c)</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5(d)</font><font style="font-family:inherit;font-size:12pt;">&#32;and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5(e)</font><font style="font-family:inherit;font-size:12pt;">&#32;below shall govern the vesting of the Grantee&#8217;s Award [2016] LTIP Units (PB) exclusively in the event of a Change of Control or termination of the Grantee&#8217;s service relationship with the Company or any Subsidiary or affiliate, unless the Service Agreement contains provisions that expressly refer to this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;and provides that those provisions of the Service Agreement shall instead govern the vesting of the Grantee&#8217;s Award [2016] LTIP Units (PB).  The foregoing sentence will be deemed an amendment to any applicable Service Agreement to the extent required to apply its terms consistently with this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">, such that, by way of illustration, any provisions of the Service Agreement with respect to accelerated vesting or payout of the Grantee&#8217;s bonus or incentive compensation awards in the event of certain types of terminations of Grantee&#8217;s service relationship (such as, for example, </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">10</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">termination at the end of the term, termination without Cause by the employer or termination for Good Reason by the employee) shall not be interpreted as requiring that any calculations set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof be performed, or vesting occur with respect to this Award other than as specifically provided in this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">.  In the event an entity ceases to be a Subsidiary or affiliate of the Company, such action shall be deemed to be a termination of employment of all employees of that entity for purposes of this Agreement, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that the Committee, in its sole and absolute discretion, may make provision in such circumstances for accelerated vesting of some or all of the Grantee&#8217;s unvested Award [2016] LTIP Units (PB) that have not previously been forfeited.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of a Change of Control prior to December 31, [2018], then:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">[the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be performed effective as of the date of the Change of Control as if the Performance Period ended on such date and following the date of the Change of Control no further calculations pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be performed with respect to the Grantee;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if the Award [2016] LTIP Units (PB) remain outstanding after a Change of Control or equivalent replacement awards (as defined in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(b)(iv)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof) are substituted for the Award [2016] LTIP Units (PB) at the time of the Change of Control, then the number of Award [2016] LTIP Units (PB) that are deemed earned as of the date of the Change of Control pursuant to the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;shall remain subject to vesting tied to the Grantee&#8217;s Continuous Service until December 31, [2018] as if no Change of Control had occurred, except that the Grantee shall become fully vested in such Award [2016] LTIP Units (PB) immediately (A) upon the Grantee&#8217;s Qualified Termination in connection with or within twenty-four (24) months after the Change of Control, or (B) upon the Grantee&#8217;s death, Disability or Retirement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if neither the Award [2016] LTIP Units (PB) remain outstanding after a Change of Control nor equivalent replacement awards (as defined in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(b)(iv)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof) are substituted for the Award [2016] LTIP Units (PB) at the time of the Change of Control, then the Grantee shall become fully vested in the number of Award [2016] LTIP Units (PB) that are earned pursuant to the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;">as of the date of the Change of Control; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">an award shall qualify as an &#8220;equivalent replacement award&#8221; if the following conditions are met in the good faith discretion of the Committee: </font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(A) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the replacement award is of the same type as the Award [2016] LTIP Units (PB) being replaced, including, without limitation, income tax attributes relating to the extent and timing of recognition of taxable income, gain or loss by the Grantee; </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">11</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(B) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the replacement award has a value equal to the Fair Market Value of the Award LTIP Units being replaced as of the effective date of the Change of Control; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(C) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the equity securities issuable upon the conversion, exercise, exchange or redemption of the replacement award, or securities underlying the replacement award, as applicable, are listed on a national stock exchange; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(D) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the replacement award contains terms relating to vesting (including with respect to the Grantee&#8217;s Qualified Termination, death, Disability or Retirement) that are substantially identical to those of the Award [2016] LTIP Units (PB); and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(E) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the other terms and conditions of the replacement award are not less favorable to the Grantee than the terms and conditions of the Award [2016] LTIP Units (PB).]</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">[if the Award [2016] LTIP Units (PB) remain outstanding after a Change of Control or equivalent replacement awards (as defined in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(b)(iii)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof) are substituted for the Award [2016] LTIP Units (PB) at the time of the Change of Control, then:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(A)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be performed as of the end of the Performance Period as if the Change of Control had not occurred; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(B)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">vesting tied to the Grantee&#8217;s Continuous Service will occur upon the earlier of (i) the end of the Performance Period or (ii) the date of the Grantee&#8217;s Qualified Termination, death, Disability or Retirement; provided, however, that the number of earned Award [2016] LTIP Units (PB) shall not be determined until the end of the Performance Period as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4;</font><font style="font-family:inherit;font-size:12pt;">&#32;&#32;</font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if neither the Award [2016] LTIP Units (PB) remain outstanding after a Change of Control nor equivalent replacement awards are substituted for Award [2016] LTIP Units (PB) at the time of the Change of Control, then:</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(A)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be performed effective as of the date of the Change of Control as if the Performance Period ended on such date; and </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">12</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(B)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the Grantee shall become fully vested in the number of Award [2016] LTIP Units (PB) that are earned pursuant to the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof as of the effective date of the Change of Control; and </font></div></td></tr></table><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">an award qualifies as an &#8220;equivalent replacement award&#8221; if the following conditions are met in the good faith discretion of the Committee: </font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(A) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the replacement award is of the same type as the Award [2016] LTIP Units (PB) being replaced, including, without limitation, income tax attributes relating to the extent and timing of recognition of taxable income, gain or loss by the Grantee; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(B) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the equity securities issuable upon the conversion, exercise, exchange or redemption of the replacement award, or securities underlying the replacement award, as applicable, are listed on a national stock exchange; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(C) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the replacement award contains terms relating to vesting (including with respect to a Qualified Termination) that are substantially identical to those of the Award [2016] LTIP Units (PB); </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(D) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">with respect to the measurement of Total Return, the compounded total annual return that would have been realized by a stockholder who bought one Share on the first day of the Performance Period, reinvested all dividends and other distributions, and liquidated the entire investment on the last day of the Performance Period shall be measured assuming that such stockholder participated in the transaction constituting a Change of Control on the terms applicable to the majority of stockholders and had continued to hold the investment (whether in securities of the Company or the surviving or resulting entity after the Change of Control transaction or in other property received as part of the Change of Control transaction (which in the case of cash shall be deemed reinvested at market rates of return for investments with duration and risk appropriate under the circumstances), with appropriate adjustments to take into account stock dividends, stock splits, reverse stock splits and the other events set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;9</font><font style="font-family:inherit;font-size:12pt;">&#32;that occur during the Performance Period both before, upon and after the effective date of the Change of Control transaction; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:16px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:192px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:144px;"><font style="font-family:inherit;font-size:12pt;">(E) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the other terms and conditions of the replacement award are not less favorable to the Grantee than the terms and conditions of the Award [2016] LTIP Units (PB).]</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">13</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of the Grantee&#8217;s Qualified Termination, death, Disability or Retirement prior to the end of the Performance Period, conditioned upon the execution and delivery by the Grantee of a customary release of claims and covenant not to solicit employees of the Company or its Subsidiaries or Affiliates following termination, the Grantee will not forfeit the Award [2016] LTIP Units (PB) upon such event, but the following provisions of this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;shall modify the determination of vesting for the Grantee:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be performed as of the end of the Performance Period as if Qualified Termination, death, Disability or Retirement had not occurred; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if the Grantee&#8217;s Qualified Termination, death or Disability occurs before the first anniversary of the Effective Date, the number of Award [2016] LTIP Units (PB) resulting from the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be multiplied by the Partial Service Factor (with the resulting number being rounded to the nearest whole LTIP Unit or, in the case of 0.5 of a unit, up to the next whole unit), and such adjusted number of Award [2016] LTIP Units (PB) shall become vested; and </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">if the Grantee&#8217;s Qualified Termination, death, Disability or Retirement occurs after the first anniversary of the Effective Date, then there will be no reduction in the number of Award [2016] LTIP Units (PB) resulting from the calculations provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">For the avoidance of doubt, if the Grantee becomes engaged in Competitive Activities following the effective date of Retirement and before the end of the Performance Period, then the provisions of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(b)</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;will not apply, and the provisions of </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(f)</font><font style="font-family:inherit;font-size:12pt;">&#32;will apply.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">If the Grantee&#8217;s employment with the Company or a Subsidiary or affiliate terminates as a result of retirement under circumstances other than as described in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5(c)</font><font style="font-family:inherit;font-size:12pt;">&#32;above, the Committee may, on a case-by-case basis and in its sole discretion, provide for accelerated or continued vesting of some or all of the Grantee&#8217;s unvested Award [2016] LTIP Units (PB) that have not previously been forfeited effective prior to the effective date of retirement.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">In the event of a termination of employment or other cessation of the Grantee&#8217;s Continuous Service prior to the end of the Performance Period other than as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5 (b)</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5(c)</font><font style="font-family:inherit;font-size:12pt;">, effective as of the date of such termination or cessation, all [2016] LTIP Units (PB) except for those that had previously been earned pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof and become vested pursuant to this </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;shall automatically and immediately be forfeited by the Grantee.  Any forfeited Award [2016] LTIP Units (PB) shall, without payment of any consideration by the Partnership, automatically and without notice be and become null and void, and neither the Grantee nor any of his successors, heirs, assigns, or personal representatives will thereafter have any further rights or interests in such forfeited Award [2016] LTIP Units (PB).</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">14</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">6.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Payments by Award Recipients</font><font style="font-family:inherit;font-size:12pt;">.  No amount shall be payable to the Company or the Partnership by the Grantee at any time in respect of this Award. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">7.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Distributions</font><font style="font-family:inherit;font-size:12pt;">.  Distributions on [2016] LTIP Units (PB) will be paid in accordance with the Partnership Agreement as modified hereby as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The LTIP Unit Distribution Participation Date (as defined in the Partnership Agreement) with respect to those [2016] LTIP Units (PB) that have become vested in accordance with </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be the effective date of vesting of Award [2016] LTIP Units (PB) (</font><font style="font-family:inherit;font-size:12pt;font-style:italic;">i.e.</font><font style="font-family:inherit;font-size:12pt;">&#32;the last day of the Performance Period [or such other date as provided in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof]).  Vested [2016] LTIP Units (PB) shall be entitled to receive the full distribution payable on Units outstanding as of the record date next following the date set forth in the preceding sentence, whether or not they will have been outstanding for the whole period. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">Prior to the LTIP Unit Distribution Participation Date provided in Section&#160;7(a) above, Award [2016] LTIP Units (PB) shall be entitled to receive 10% of regular periodic distributions payable to holders of Units (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Current Distributions</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and 0% of special, extraordinary or other distributions made not in the ordinary course.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">An amount equal to (i) the difference between (x) all distributions (regular, special, extraordinary or otherwise) paid with respect to one Unit between the date of grant of the Award [2016] LTIP Units (PB) and the LTIP Unit Distribution Participation Date provided in Section&#160;7(a) and (y) the Current Distributions paid with respect to one Award [2016] LTIP Unit up to the LTIP Unit Distribution Participation Date provided in Section&#160;7(a) (such difference, the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Contingent Distributions</font><font style="font-family:inherit;font-size:12pt;">&#8221;) multiplied by (ii) the number of Award [2016] LTIP Units (PB) shall be credited to a notional (unfunded) account for the benefit of the Grantee on the books and records of the Partnership subject to vesting.  As promptly as practicable after the LTIP Unit Distribution Participation Date, an amount equal to the Contingent Distributions that would have been paid with respect to those Award [2016] LTIP Units (PB) that have become vested pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof shall be paid to the Grantee.  Any portion of the notional account that is not payable to the Grantee shall be forfeited and revert to the Partnership free and clear of any claims by the Grantee.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">To the extent that the Partnership makes distributions to holders of Units partially in cash and partially in additional Units or other securities, unless the Committee in its sole discretion determines to allow the Grantee to make a different election, the Grantee shall be deemed to have elected with respect to all [2016] LTIP Units (PB) eligible to receive such distribution to receive 10% of such distribution in cash and 90% in Units, with the cash component constituting the Current Distribution prior to the LTIP Unit Distribution Participation Date.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">8.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Restrictions on Transfer</font><font style="font-family:inherit;font-size:12pt;">.  None of the [2016] LTIP Units (PB) shall be sold, assigned, transferred, pledged or otherwise disposed of or encumbered (whether voluntarily or involuntarily or by judgment, levy, attachment, garnishment or other legal or equitable proceeding) (each such action a &#8220;Transfer&#8221;), or redeemed in accordance with the Partnership Agreement (a) until after they have become vested pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections 4 or 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof other than </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">15</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">in connection with a Change of Control, and (b) unless such Transfer is in compliance with all applicable securities laws (including, without limitation, the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;)), and such Transfer is in accordance with the applicable terms and conditions of the Partnership Agreement; provided, however, that clause (a) above shall not apply with respect to (i) the conversion into Units of [2016] LTIP Units (PB) that have become vested in accordance with </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4 or 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Converted LTIP Units</font><font style="font-family:inherit;font-size:12pt;">&#8221;) or (ii) any Transfer either of [2016] LTIP Units (PB) that have become vested in accordance with </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Sections&#160;4 or 5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof or of Converted LTIP Units, so long as such Transfer is (A) permitted under the Partnership Agreement and (B) in connection with donative, estate or tax planning by the Grantee; and provided, further, that the Transferee agrees in writing with the Company and the Partnership not to make any further Transfer of such vested [2016] LTIP Units (PB) or Converted LTIP Units other than as permitted by this Section&#160;8.  In connection with any Transfer of [2016] LTIP Units (PB), the Partnership may require the Grantee to provide an opinion of counsel, satisfactory to the Partnership, that such Transfer is in compliance with all federal and state securities laws (including, without limitation, the Securities Act).  Any attempted Transfer of [2016] LTIP Units (PB) not in accordance with the terms and conditions of this Section&#160;8 shall be null and void, and the Partnership shall not reflect on its records any change in record ownership of any [2016] LTIP Units (PB) as a result of any such Transfer, shall otherwise refuse to recognize any such Transfer and shall not in any way give effect to any such Transfer of any [2016] LTIP Units (PB).  The restrictions on Transfer in this Section 8 shall not be interpreted to prohibit the Grantee from designating one or more beneficiaries to receive the Grantee&#8217;s LTIP Units or Converted LTIP Units that are payable in the event of the Grantee&#8217;s death. Any such beneficiary designation shall be on a form provided or approved by the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">9.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Changes in Capital Structure</font><font style="font-family:inherit;font-size:12pt;">.  Without duplication with the provisions of Section&#160;6.2 of the Stock Plan, if (a) the Company shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization, exchange of shares, sale of all or substantially all of the assets or stock of the Company, spin-off of a Subsidiary, business unit or significant portion of assets or other fundamental transaction similar thereto, (b) any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization, significant repurchases of stock, or other similar change in the capital structure of the Company shall occur, (c) any extraordinary dividend or other distribution to holders of shares of Common Stock or Units other than regular cash dividends shall be made, or (d) any other event shall occur that in each case in the good faith judgment of the Committee necessitates action by way of appropriate equitable adjustment in the terms of this Award, the LTIP or the [2016] LTIP Units (PB), then the Committee shall take such action as it deems necessary to maintain the Grantee&#8217;s rights hereunder so that they are substantially proportionate to the rights existing under this Award, the LTIP and the terms of the [2016] LTIP Units (PB) prior to such event, including, without limitation: (i) adjustments in the Award [2016] LTIP Units (PB), Share Price, Total Return or other pertinent terms of this Award; and (ii) substitution of other awards under the Stock Plan or otherwise.  The Grantee shall have the right to vote the [2016] LTIP Units (PB) if and when voting is allowed under the Partnership Agreement, regardless of whether vesting has occurred.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">10.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Miscellaneous</font><font style="font-family:inherit;font-size:12pt;">.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">16</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(a)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Amendments; Modifications</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement may be amended or modified only with the consent of the Company and the Partnership; </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">&#32;that any such amendment or modification materially and adversely affecting the rights of the Grantee hereunder must be consented to by the Grantee to be effective as against him; and </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">provided</font><font style="font-family:inherit;font-size:12pt;">, </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">further</font><font style="font-family:inherit;font-size:12pt;">, that the Grantee acknowledges that the Stock Plan may be amended or discontinued in accordance with Section&#160;6.6 thereof and that this Agreement may be amended or canceled by the Committee, on behalf of the Company and the Partnership, for the purpose of satisfying changes in law or for any other lawful purpose, so long as no such action shall impair the Grantee&#8217;s rights under this Agreement without the Grantee&#8217;s written consent.  Notwithstanding the foregoing, this Agreement may be amended in writing signed only by the Company to correct any errors or ambiguities in this Agreement and/or to make such changes that do not materially adversely affect the Grantee&#8217;s rights hereunder.  No promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, with respect to the subject matter hereof, have been made by the parties which are not set forth expressly in this Agreement.  This grant shall in no way affect the Grantee&#8217;s participation or benefits under any other plan or benefit program maintained or provided by the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(b)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Incorporation of Stock Plan; Committee Determinations</font><font style="font-family:inherit;font-size:12pt;">.  The provisions of the Stock Plan are hereby incorporated by reference as if set forth herein.  In the event of a conflict between this Agreement and the Stock Plan, this Agreement shall be controlling and determinative.  The Committee will make the determinations and certifications required by this Award as promptly as reasonably practicable following the occurrence of the event or events necessitating such determinations or certifications.  In the event of a Change of Control, the Committee will perform any calculations set forth in </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;4</font><font style="font-family:inherit;font-size:12pt;">&#32;or </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;5</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof required in connection with such Change of Control and make any determinations relevant to vesting with respect to this Award within a period of time that enables the Company to conclude whether Award [2016] LTIP Units (PB) become vested or are forfeited.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(c)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Status as a Partner</font><font style="font-family:inherit;font-size:12pt;">.  As of the grant date set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Schedule A</font><font style="font-family:inherit;font-size:12pt;">, the Grantee shall be admitted as a partner of the Partnership with beneficial ownership of the number of Award [2016] LTIP Units (PB) issued to the Grantee as of such date pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof by: (A) signing and delivering to the Partnership a copy of this Agreement; and (B) signing, as a Limited Partner, and delivering to the Partnership a counterpart signature page to the Partnership Agreement (attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit A</font><font style="font-family:inherit;font-size:12pt;">).  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(d)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Status of [2016] LTIP Units (PB) under the Stock Plan</font><font style="font-family:inherit;font-size:12pt;">.  Insofar as the LTIP has been established as an incentive program of the Company and the Partnership, the [2016] LTIP Units (PB) are both issued as equity securities of the Partnership and granted as awards under the Stock Plan.  The Company will have the right at its option, as set forth in the Partnership Agreement, to issue shares of Common Stock in exchange for Units into which [2016] LTIP Units (PB) may have been converted pursuant to the Partnership Agreement, subject to certain limitations set forth in the Partnership Agreement, and such shares of Common Stock, if issued, will be issued under the Stock Plan.  The Grantee must be eligible to receive the [2016] LTIP Units (PB) in compliance with applicable federal and state securities laws and to that effect </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">17</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">is required to complete, execute and deliver certain covenants, representations and warranties (attached as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit B</font><font style="font-family:inherit;font-size:12pt;">).  The Grantee acknowledges that the Grantee will have no right to approve or disapprove such determination by the Committee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(e)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Legend</font><font style="font-family:inherit;font-size:12pt;">.  The records of the Partnership evidencing the [2016] LTIP Units (PB) shall bear an appropriate legend, as determined by the Partnership in its sole discretion, to the effect that such [2016] LTIP Units (PB) are subject to restrictions as set forth herein, in the Stock Plan and in the Partnership Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(f)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Compliance With Securities Laws</font><font style="font-family:inherit;font-size:12pt;">.  The Partnership and the Grantee will make reasonable efforts to comply with all applicable securities laws.  In addition, notwithstanding any provision of this Agreement to the contrary, no [2016] LTIP Units (PB) will become vested or be issued at a time that such vesting or issuance would result in a violation of any such laws.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(g)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Investment Representations; Registration</font><font style="font-family:inherit;font-size:12pt;">.  The Grantee hereby makes the covenants, representations and warranties set forth on </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit B</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto.  All of such covenants, warranties and representations shall survive the execution and delivery of this Agreement by the Grantee.  The Partnership will have no obligation to register under the Securities Act any [2016] LTIP Units (PB) or any other securities issued pursuant to this Agreement or upon conversion or exchange of [2016] LTIP Units (PB).  The Grantee agrees that any resale of the shares of Common Stock received upon the exchange of Units into which [2016] LTIP Units (PB) may be converted shall not occur during the &#8220;blackout periods&#8221; forbidding sales of Company securities, as set forth in the then applicable Company employee manual or insider trading policy.  In addition, any resale shall be made in compliance with the registration requirements of the Securities Act or an applicable exemption therefrom, including, without limitation, the exemption provided by Rule 144 promulgated thereunder (or any successor rule).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(h)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;83(b) Election</font><font style="font-family:inherit;font-size:12pt;">.  In connection with the issuance of Award [2016] LTIP Units (PB) under this Award pursuant to </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Section&#160;3</font><font style="font-family:inherit;font-size:12pt;">&#32;hereof the Grantee may (but is not required to) make an election to include in gross income in the year of transfer the applicable Award [2016] LTIP Units (PB) pursuant to Section&#160;83(b) of the Code substantially in the form attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit&#160;C</font><font style="font-family:inherit;font-size:12pt;">&#32;and, if such an election is made, the Grantee shall provide to the Company a copy thereof and supply to the Company such other information as the Company is required to maintain or file in accordance with the regulations promulgated thereunder.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(i)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Severability</font><font style="font-family:inherit;font-size:12pt;">.  If, for any reason, any provision of this Agreement is held invalid, such invalidity shall not affect any other provision of this Agreement not so held invalid, and each such other provision shall to the full extent consistent with law continue in full force and effect.  If any provision of this Agreement shall be held invalid in part, such invalidity shall in no way affect the rest of such provision not held so invalid, and the rest of such provision, together with all other provisions of this Agreement, shall to the full extent consistent with law continue in full force and effect.</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">18</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(j)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Governing Law</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement is made under, and will be construed in accordance with, the laws of the State of Delaware, without giving effect to the principles of conflict of laws of such state.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(k)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">No Obligation to Continue Position as an Employee, Consultant or Advisor</font><font style="font-family:inherit;font-size:12pt;">.  Neither the Company nor any affiliate is obligated by or as a result of this Agreement to continue to have the Grantee as an employee, consultant or advisor and this Agreement shall not interfere in any way with the right of the Company or any affiliate to terminate the Grantee&#8217;s service relationship at any time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(l)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Notices</font><font style="font-family:inherit;font-size:12pt;">.  Any notice to be given to the Company shall be addressed to the Secretary of the Company at its principal place of business and any notice to be given the Grantee shall be addressed to the Grantee at the Grantee&#8217;s address as it appears on the employment records of the Company, or at such other address as the Company or the Grantee may hereafter designate in writing to the other.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(m)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Withholding and Taxes</font><font style="font-family:inherit;font-size:12pt;">.  No later than the date as of which an amount first becomes includible in the gross income of the Grantee for income tax purposes or subject to the Federal Insurance Contributions Act withholding with respect to this Award, the Grantee will pay to the Company or, if appropriate, any of its affiliates, or make arrangements satisfactory to the Committee regarding the payment of, any United States federal, state or local or foreign taxes of any kind required by law to be withheld with respect to such amount.  The obligations of the Company under this Agreement will be conditional on such payment or arrangements, and the Company and its affiliates shall, to the extent permitted by law, have the right to deduct any such taxes from any payment otherwise due to the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(n)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Headings</font><font style="font-family:inherit;font-size:12pt;">.  The headings of paragraphs hereof are included solely for convenience of reference and shall not control the meaning or interpretation of any of the provisions of this Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(o)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Counterparts</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement may be executed in multiple counterparts with the same effect as if each of the signing parties had signed the same document.  All counterparts shall be construed together and constitute the same instrument.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(p)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Successors and Assigns</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and any successors to the Company and the Partnership, on the one hand, and any successors to the Grantee, on the other hand, by will or the laws of descent and distribution, but this Agreement shall not otherwise be assignable or otherwise subject to hypothecation by the Grantee.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(q)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">409A</font><font style="font-family:inherit;font-size:12pt;">. This Agreement shall be construed, administered and interpreted in accordance with a good faith interpretation of Section&#160;409A of the Code.  Any provision of this Agreement that is inconsistent with Section&#160;409A of the Code, or that may result in penalties under Section&#160;409A of the Code, shall be amended, in consultation with the Grantee and with the reasonable cooperation of the Grantee and the Company, in the least restrictive manner necessary to (i) exclude the [2016] LTIP Units (PB) from the definition of &#8220;deferred compensation&#8221; within </font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">19</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">the meaning of such Section&#160;409A or (ii) comply with the provisions of Section&#160;409A, other applicable provision(s) of the Code and/or any rules, regulations or other regulatory guidance issued under such statutory provisions, in each case without diminution in the value of the benefits granted hereby to the Grantee. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;color:#010000;">(r)</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Complete Agreement</font><font style="font-family:inherit;font-size:12pt;">.  This Agreement (together with those agreements and documents expressly referred to herein, for the purposes referred to herein) embody the complete and entire agreement and understanding between the parties with respect to the subject matter hereof, and supersede any and all prior promises, assurances, commitments, agreements, undertakings or representations, whether oral, written, electronic or otherwise, and whether express or implied, which may relate to the subject matter hereof in any way.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">&#32;[signature page follows]</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">20</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div><hr style="page-break-after:always"><div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">IN WITNESS WHEREOF, the undersigned have caused this Award Agreement to be executed as of the ____ day of _________________, ______.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THE MACERICH COMPANY</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THE MACERICH PARTNERSHIP, L.P.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:336px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:288px;"><font style="font-family:inherit;font-size:12pt;">By:</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Macerich Company, <br>its general partner</font></div></td></tr></table><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">By:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">GRANTEE</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="sF4C7D850D4180670CCF8544BAA8D7F48"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT A</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">FORM OF LIMITED PARTNER SIGNATURE PAGE</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee, desiring to become one of the within named Limited Partners of The Macerich Company, L.P., hereby accepts all of the terms and conditions of (including, without limitation, the provisions related to powers of attorney), and becomes a party to, the Agreement of Limited Partnership, dated as of March 16, 1994, of The Macerich Partnership, L.P., as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership Agreement</font><font style="font-family:inherit;font-size:12pt;">&#8221;).  The Grantee agrees that this signature page may be attached to any counterpart of the Partnership Agreement and further agrees as follows (where the term &#8220;Limited Partner&#8221; refers to the Grantee:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.&#160;&#160;&#160;&#160;The Limited Partner hereby confirms that it has reviewed the terms of the Partnership Agreement and affirms and agrees that it is bound by each of the terms and conditions of the Partnership Agreement, including, without limitation, the provisions thereof relating to limitations and restrictions on the transfer of Partnership Units.  Without limitation of the foregoing, the Limited Partner is deemed to have made all of the acknowledgements, waivers and agreements set forth in Section&#160;10.6 and 13.11 of the Partnership Agreement.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.&#160;&#160;&#160;&#160;The Limited Partner hereby confirms that it is acquiring the Partnership Units for its own account as principal, for investment and not with a view to resale or distribution, and that the Partnership Units may not be transferred or otherwise disposed of by the Limited Partner otherwise than in a transaction pursuant to a registration statement filed by the Partnership (which it has no obligation to file) or that is exempt from the registration requirements of the Securities Act of 1933, as amended (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Securities Act</font><font style="font-family:inherit;font-size:12pt;">&#8221;), and all applicable state and foreign securities laws, and the General Partner may refuse to transfer any Partnership Units as to which evidence of such registration or exemption from registration satisfactory to the General Partner is not provided to it, which evidence may include the requirement of a legal opinion regarding the exemption from such registration.  If the General Partner delivers to the Limited Partner shares of common stock of the General Partner (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;) upon redemption of any Partnership Units, the Common Shares will be acquired for the Limited Partner&#8217;s own account as principal, for investment and not with a view to resale or distribution, and the Common Shares may not be transferred or otherwise disposed of by the Limited Partner otherwise than in a transaction pursuant to a registration statement filed by the General Partner with respect to such Common Shares (which it has no obligation under the Partnership Agreement to file) or that is exempt from the registration requirements of the Securities Act and all applicable state and foreign securities laws, and the General Partner may refuse to transfer any Common Shares as to which evidence of such registration or exemption from such registration satisfactory to the General Partner is not provided to it, which evidence may include the requirement of a legal opinion regarding the exemption from such registration.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.&#160;&#160;&#160;&#160;The Limited Partner hereby affirms that it has appointed the General Partner, any Liquidator and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead, in accordance with Section&#160;6.10 of the Partnership Agreement, which Section&#160;is hereby incorporated by reference.  The foregoing power of attorney is hereby declared to be irrevocable and a power coupled with an interest, and it shall survive and not be affected by the death, incompetency, dissolution, disability, incapacity, bankruptcy or termination of the Limited Partner and shall extend to the Limited Partner&#8217;s heirs, executors, administrators, legal representatives, successors and assigns.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">4.&#160;&#160;&#160;&#160;The Limited Partner hereby irrevocably consents in advance to any amendment to the Partnership Agreement, as may be recommended by the General Partner, intended to avoid the Partnership being treated as a publicly-traded partnership within the meaning of Section&#160;7704 of the Internal Revenue Code, including, without limitation, (a) any amendment to the provisions of Section&#160;9.1 or the Redemption Rights Exhibit of the Partnership Agreement intended to increase the waiting period between the delivery of a notice of redemption and the redemption date to up to sixty (60) days or (b) any other amendment to the Partnership Agreement intended to make the redemption and transfer provisions, with respect to certain redemptions and transfers, more similar to the provisions described in Treasury Regulations Section&#160;1.7704 1(f).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">5.&#160;&#160;&#160;&#160;The Limited Partner hereby appoints the General Partner, any Liquidator and authorized officers and attorneys-in-fact of each, and each of those acting singly, in each case with full power of substitution, as its true and lawful agent and attorney-in-fact, with full power and authority in its name, place and stead, to execute and deliver any amendment referred to in the foregoing paragraph 4(a) on the Limited Partner&#8217;s behalf.  The foregoing power of attorney is hereby declared to be irrevocable and a power coupled with an interest, and it shall survive and not be affected by the death, incompetency, dissolution, disability, incapacity, bankruptcy or termination of the Limited Partner and shall extend to the Limited Partner&#8217;s heirs, executors, administrators, legal representatives, successors and assigns.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">6.&#160;&#160;&#160;&#160;The Limited Partner agrees that it will not transfer any interest in the Partnership Units (i) through a national, non-U.S., regional, local or other securities exchange or (ii) an over-the-counter market (including an interdealer quotation system that regularly disseminates firm buy or sell quotations by identified brokers or dealers by electronic means or otherwise) or (iii) to or through (a) a person, such as a broker or dealer, that makes a market in, or regularly quotes prices for, interests in the Partnership or (b) a person that regularly makes available to the public (including customers or subscribers) bid or offer quotes with respect to any interests in the Partnership and stands ready to effect transactions at the quoted prices for itself or on behalf of others. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">7.&#160;&#160;&#160;&#160;The Limited Partner acknowledges that the General Partner shall be a third party beneficiary of the representations, covenants and agreements set forth in Sections&#160;4 and 5 hereof.  The Limited Partner agrees that it will transfer, whether by assignment or otherwise, Partnership Units only to the General Partner or to transferees that provide the Partnership and the General Partner with the representations and covenants set forth in Sections&#160;4 and 5 hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">8.&#160;&#160;&#160;&#160;This Acceptance shall be construed and enforced in accordance with and governed by the laws of the State of Delaware, without regard to the principles of conflicts of law.</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Signature Line for Limited Partner:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date:  </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Address of Limited Partner:</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:left;padding-left:288px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:288px;text-indent:624px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s0AE1A02C4894900C2416544BAAAB2A7B"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT B</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">GRANTEE&#8217;S COVENANTS, REPRESENTATIONS AND WARRANTIES</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee hereby represents, warrants and covenants as follows:</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;The Grantee has received and had an opportunity to review the following documents (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Background Documents</font><font style="font-family:inherit;font-size:12pt;">&#8221;):</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;The Company&#8217;s latest Annual Report to Stockholders; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;The Company&#8217;s Proxy Statement for its most recent Annual Meeting of Stockholders; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;&#160;&#160;&#160;The Company&#8217;s Report on Form 10-K for the fiscal year most recently ended;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)&#160;&#160;&#160;&#160;The Company&#8217;s Form 10-Q, if any, for the most recently ended quarter filed by the Company with the Securities and Exchange Commission since the filing of the Form 10-K described in clause (iii) above;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)&#160;&#160;&#160;&#160;Each of the Company&#8217;s Current Report(s) on Form 8-K, if any, filed since the end of the fiscal year most recently ended for which a Form 10-K has been filed by the Company;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)&#160;&#160;&#160;&#160;The Partnership Agreement; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vii)&#160;&#160;&#160;&#160;The Stock Plan; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(viii)&#160;&#160;&#160;&#160;The Company&#8217;s Articles of Amendment and Restatement, as amended.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Grantee also acknowledges that any delivery of the Background Documents and other information relating to the Company and the Partnership prior to the determination by the Partnership of the suitability of the Grantee as a holder of [2016] LTIP Units (PB) shall not constitute an offer of [2016] LTIP Units (PB) until such determination of suitability shall be made.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;The Grantee hereby represents and warrants that </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(i)&#160;&#160;&#160;&#160;The Grantee either (A) is an &#8220;accredited investor&#8221; as defined in Rule 501(a) under the Securities Act, or (B) by reason of the business and financial experience of the Grantee, together with the business and financial experience of those persons, if any, retained by the Grantee to represent or advise him with respect to the grant to him of [2016] LTIP Units (PB), the potential conversion of [2016] LTIP Units (PB) into units of limited partnership of the Partnership (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Common Units</font><font style="font-family:inherit;font-size:12pt;">&#8221;) and the potential redemption of such Common Units for shares the Company&#8217;s common stock (&#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">REIT Shares</font><font style="font-family:inherit;font-size:12pt;">&#8221;), has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type that the Grantee (I) is capable of evaluating the merits and risks of an investment in the Partnership and potential investment in the Company and of making an informed investment decision, (II) is capable of protecting his own interest or has engaged representatives or advisors to assist him in protecting his interests, and (III) is capable of bearing the economic risk of such investment.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(ii)&#160;&#160;&#160;&#160;The Grantee, after due inquiry, hereby certifies that for purposes of Rule 506(d) and Rule 506(e) of the Securities Act, he is not subject to any felony or misdemeanor conviction related to any securities matter; any federal or state order, judgment, decree or injunction related to any securities, insurance, banking or U.S. Postal Service matter; any SEC disciplinary or cease and desist order; or any suspension, expulsion or bar related to a registered national securities exchange, national or affiliated securities association or member thereof, whether it occurred or was issued before, on or after September 23, 2013, and agrees that he will notify the Company immediately upon becoming aware that the foregoing is not, or is no longer, complete and accurate in every material respect, including as a result of events occurring after the date hereof.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iii)&#160;&#160;&#160;&#160;The Grantee understands that (A) the Grantee is responsible for consulting his own tax advisors with respect to the application of the U.S. federal income tax laws, and the tax laws of any state, local or other taxing jurisdiction to which the Grantee is or by reason of the award of [2016] LTIP Units (PB) may become subject, to his particular situation; (B) the Grantee has not received or relied upon business or tax advice from the Company, the Partnership or any of their respective employees, agents, consultants or advisors, in their capacity as such; (C) the Grantee provides services to the Partnership on a regular basis and in such capacity has access to such information, and has such experience of and involvement in the business and operations of the Partnership, as the Grantee believes to be necessary and appropriate to make an informed decision to accept the award of [2016] LTIP Units (PB); and (D) an investment in the Partnership and/or the Company involves substantial risks.  The Grantee has been given the opportunity to make a thorough investigation of matters relevant to the [2016] LTIP Units (PB) and has been furnished with, and has reviewed and understands, materials relating to the Partnership and the Company and their respective activities (including, but not limited to, the Background Documents).  The Grantee has been afforded the opportunity to obtain any additional information (including any exhibits to the Background Documents) deemed necessary by the Grantee to verify the accuracy of information conveyed to the Grantee.  The Grantee confirms that all documents, records, and books pertaining to his receipt of [2016] LTIP Units (PB) which were requested by the Grantee have been made available or delivered to the Grantee.  The Grantee has had an opportunity to ask questions of and receive answers from the Partnership and the Company, or from a person or persons acting on their behalf, concerning the terms and conditions of the [2016] LTIP Units (PB).  </font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">The Grantee has relied upon, and is making its decision solely upon, the Background Documents and other written information provided to the Grantee by the Partnership or the Company.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(iv)&#160;&#160;&#160;&#160;The [2016] LTIP Units (PB) to be issued, the Common Units issuable upon conversion of the [2016] LTIP Units (PB) and any REIT Shares issued in connection with the redemption of any such Common Units will be acquired for the account of the Grantee for investment only and not with a current view to, or with any intention of, a distribution or resale thereof, in whole or in part, or the grant of any participation therein, without prejudice, however, to the Grantee&#8217;s right (subject to the terms of the [2016] LTIP Units (PB), the Stock Plan, the agreement of limited partnership of the Partnership, the articles of organization of the Company, as amended, and the Award Agreement) at all times to sell or otherwise dispose of all or any part of his [2016] LTIP Units (PB), Common Units or REIT Shares in compliance with the Securities Act, and applicable state securities laws, and subject, nevertheless, to the disposition of his assets being at all times within his control.  </font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(v)&#160;&#160;&#160;&#160;The Grantee acknowledges that (A) neither the [2016] LTIP Units (PB) to be issued, nor the Common Units issuable upon conversion of the [2016] LTIP Units (PB), have been registered under the Securities Act or state securities laws by reason of a specific exemption or exemptions from registration under the Securities Act and applicable state securities laws and, if such [2016] LTIP Units (PB) or Common Units are represented by certificates, such certificates will bear a legend to such effect, (B) the reliance by the Partnership and the Company on such exemptions is predicated in part on the accuracy and completeness of the representations and warranties of the Grantee contained herein, (C) such [2016] LTIP Units (PB) or Common Units, therefore, cannot be resold unless registered under the Securities Act and applicable state securities laws, or unless an exemption from registration is available, (D) there is no public market for such [2016] LTIP Units (PB) and Common Units and (E) neither the Partnership nor the Company has any obligation or intention to register such [2016] LTIP Units (PB) or the Common Units issuable upon conversion of the [2016] LTIP Units (PB) under the Securities Act or any state securities laws or to take any action that would make available any exemption from the registration requirements of such laws, except, that, upon the redemption of the Common Units for REIT Shares, the Company may issue such REIT Shares under the Stock Plan and pursuant to a Registration Statement on Form S-8 under the Securities Act, to the extent that (I) the Grantee is eligible to receive such REIT Shares under the Stock Plan at the time of such issuance, (II) the Company has filed a Form S-8 Registration Statement with the Securities and Exchange Commission registering the issuance of such REIT Shares and (III) such Form S-8 is effective at the time of the issuance of such REIT Shares.  The Grantee hereby acknowledges that because of the restrictions on transfer or assignment of such [2016] LTIP Units (PB) acquired hereby and the Common Units issuable upon conversion of the [2016] LTIP Units (PB) which are set forth in the Partnership Agreement or this Agreement, the Grantee may have to bear the economic risk of his ownership of the [2016] LTIP Units (PB) acquired hereby and the Common Units issuable upon conversion of the [2016] LTIP Units (PB) for an indefinite period of time.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vi)&#160;&#160;&#160;&#160;The Grantee has determined that the [2016] LTIP Units (PB) are a suitable investment for the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;padding-left:48px;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(vii)&#160;&#160;&#160;&#160;No representations or warranties have been made to the Grantee by the Partnership or the Company, or any officer, director, stockholder, agent, or affiliate of any of them, and the Grantee has received no information relating to an investment in the Partnership or the [2016] LTIP Units (PB) except the information specified in paragraph (b) above.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;So long as the Grantee holds any [2016] LTIP Units (PB), the Grantee shall disclose to the Partnership in writing such information as may be reasonably requested with respect to ownership of [2016] LTIP Units (PB) as the Partnership may deem reasonably necessary to ascertain and to establish compliance with provisions of the Code, applicable to the Partnership or to comply with requirements of any other appropriate taxing authority.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(d)&#160;&#160;&#160;&#160;The Grantee hereby agrees to make an election under Section&#160;83(b) of the Code with respect to the [2016] LTIP Units (PB) awarded hereunder, and has delivered with this Agreement a completed, executed copy of the election form attached hereto as </font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Exhibit C</font><font style="font-family:inherit;font-size:12pt;">.  The Grantee agrees to file the election (or to permit the Partnership to file such election on the Grantee&#8217;s behalf) within thirty (30) days after the award of the [2016] LTIP Units (PB) hereunder with the IRS Service Center at which such Grantee files his personal income tax returns, and to file a copy of such election with the Grantee&#8217;s U.S. federal income tax return for the taxable year in which [2016] LTIP Units (PB) are issued or awarded to the Grantee.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(e)&#160;&#160;&#160;&#160;The address set forth on the signature page of this Agreement is the address of the Grantee&#8217;s principal residence, and the Grantee has no present intention of becoming a resident of any country, state or jurisdiction other than the country and state in which such residence is sited.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s8C5469B2C9FCF7A1C080544BAACB66B3"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">EXHIBIT C</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ELECTION TO INCLUDE IN GROSS INCOME IN YEAR OF <br>TRANSFER OF PROPERTY PURSUANT TO SECTION&#160;83(b) <br>OF THE INTERNAL REVENUE CODE</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The undersigned hereby makes an election pursuant to Section&#160;83(b) of the Internal Revenue Code of 1986</font><font style="font-family:inherit;font-size:12pt;">, as amended, Treasury Regulations Section 1.83-2 promulgated thereunder, and Rev. Proc. 2012-29, 2012-28 IRB, 06/26/2012, to include in gross income as compensation for services the excess (if any) of the fair market value of the property described below over the amount paid for such property.</font><font style="font-family:inherit;font-size:12pt;">&#32;</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The name, address and taxpayer identification number of the undersigned are:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;_____________________ (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Taxpayer</font><font style="font-family:inherit;font-size:12pt;">&#8221;)</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Address: &#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;text-indent:480px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Social Security No./Taxpayer Identification No.:  _____________</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Taxable Year: Calendar Year [2016]</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Description of property with respect to which the election is being made:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;padding-left:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The election is being made with respect to __________ [2016] LTIP Units (PB) in The Macerich Partnership, L.P. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Partnership</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The date on which the [2016] LTIP Units (PB) were transferred to the undersigned is ___________, [2016].  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Nature of restrictions to which the [2016] LTIP Units (PB) are subject:</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Until the [2016] LTIP Units (PB) vest, the Taxpayer may not transfer in any manner any portion of the [2016] LTIP Units (PB) without the consent of the Partnership.  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:144px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:96px;"><font style="font-family:inherit;font-size:12pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The Taxpayer&#8217;s [2016] LTIP Units (PB) vest in accordance with the vesting provisions described in the Schedule attached hereto.  Unvested [2016] LTIP Units (PB) are forfeited in accordance with the vesting provisions described in the Schedule attached hereto.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The fair market value at time of transfer (determined without regard to any restrictions other than </font><font style="font-family:inherit;font-size:12pt;">a nonlapse restriction as defined in Treasury Regulations Section 1.83-3(h)</font><font style="font-family:inherit;font-size:12pt;">) of the [2016] LTIP Units (PB) with respect to which this election is being made was $0 per [2016] LTIP Unit (PB).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">6.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The amount paid by the Taxpayer for the [2016] LTIP Units (PB) was $0 per [2016] LTIP Unit (PB).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:96px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:48px;"><font style="font-family:inherit;font-size:12pt;">7.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The amount to include in gross income is $0.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The undersigned taxpayer will file this election with the Internal Revenue Service office with which taxpayer files his or her annual income tax return not later than 30 days after the date of transfer of the property. A copy of the election also will be furnished to the person for whom the services were performed. Additionally, the undersigned will include a copy of the election with his or her income tax return for the taxable year in which the property is transferred. The undersigned is the person performing the services in connection with which the property was transferred.</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Dated:  _____________________</font></div><div style="line-height:120%;padding-bottom:12px;text-align:left;text-indent:528px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="sCBF4208A46872A1E1260544BAAFD5FEA"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">SCHEDULE TO 83(b) ELECTION</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Vesting Provisions of [2016] LTIP Units (PB)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The [2016] LTIP Units (PB) are subject to performance-based vesting.  Performance-based vesting will be from 0-100% based on The Macerich Company&#8217;s (the &#8220;Company&#8221;) per-share total return to holders of common stock (the &#8220;Total Return&#8221;) for the period from January 1, [2016] through December 31, [2018] (or earlier in certain circumstances).  The [2016] LTIP Units (PB) may vest depending on the percentile rank of the Company in terms of Total Return relative to the Total Return of a group of peer REITs (the &#8220;Peer REITs&#8221;), as measured at the end of the performance period.  Vesting of the [2016] LTIP Units (PB) will occur as follows:</font></div><div style="line-height:120%;padding-left:54px;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:86.75213675213675%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:54%;"></td><td style="width:46%;"></td></tr><tr><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Percentile Rank</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Award Earned (*)</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At or above the 75</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile </font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">100%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At the 50</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile </font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">66-2/3%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">At the 25</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile </font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">33-1/3%</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Below the 25</font><font style="font-family:inherit;font-size:12pt;"><sup style="vertical-align:top;line-height:120%;font-size:8pt">th</sup></font><font style="font-family:inherit;font-size:12pt;">&#160;percentile</font></div></td><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">0%</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(*) Linear interpolation between the 25th and 75th percentiles.</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">The above vesting is conditioned upon the Taxpayer remaining an employee of the Company through the applicable vesting date, subject to acceleration under specified circumstances.  Unvested [2016] LTIP Units (PB) are subject to forfeiture in the event of failure to vest. </font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div><a name="s15141536A619BB1073E1544BAB1FC553"></a></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SCHEDULE A TO [2016] LTIP UNIT AWARD AGREEMENT</font><font style="font-family:inherit;font-size:10pt;">&#32;<br></font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">(PERFORMANCE-BASED)</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Date of Award Agreement:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Name of Grantee:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Number of [2016] LTIP Units (PB) Subject to Grant:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Grant Date:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #00000a;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-left:1px solid #00000a;border-right:1px solid #00000a;border-top:1px solid #00000a;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Initials of Company representative:  _________</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">Initials of Grantee:  _________</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;text-indent:136px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font></div><div><br></div><div><div style="line-height:120%;text-align:left;text-indent:312px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">21</font></div><div style="line-height:120%;text-align:left;text-indent:624px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>4
<FILENAME>mac-3312016xexhibit311.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s1AAD72FEC0BB5DA4A71A7295BD0BF07F"></a></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 31.1 </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SECTION 302 CERTIFICATION </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I, Arthur M. Coppola, certify that: </font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I have reviewed this report on Form 10-Q for the quarter ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;of The Macerich Company; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:92.7734375%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:8%;"></td><td style="width:39%;"></td><td style="width:6%;"></td><td style="width:47%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ ARTHUR M. COPPOLA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May&#160;6, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Chairman and Chief Executive Officer</font></div></td></tr></table></div></div><div><br></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>5
<FILENAME>mac-3312016xexhibit312.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s7F1262095FFB5428A4EE67779F4B19E0"></a></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 31.2</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">SECTION 302 CERTIFICATION </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I, Thomas E. O'Hern, certify that: </font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">I have reviewed this report on Form 10-Q for the quarter ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;of The Macerich Company; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">2.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">3.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">4.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(c)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(d)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">5.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(a)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(b)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. </font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:93.9453125%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:8%;"></td><td style="width:35%;"></td><td style="width:5%;"></td><td style="width:52%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ THOMAS E. O'HERN</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date:</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">May&#160;6, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Senior Executive Vice President and Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>6
<FILENAME>mac-3312016xexhibit321.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
		<!-- Document created using Wdesk 1 -->
		<!-- Copyright 2016 Workiva -->
		<title>Exhibit</title>
	</head>
	<body style="font-family:Times New Roman;font-size:10pt;">
<div><a name="s8805C6C9AC6053AFB952FB77893E7C1C"></a></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Exhibit 32.1 </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">THE MACERICH COMPANY</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">WRITTEN STATEMENT</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">PURSUANT TO</font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">18 U.S.C. SECTION 1350 </font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;text-indent:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The undersigned, Arthur M. Coppola and Thomas E. O'Hern, the Chief Executive Officer and Chief Financial Officer, respectively, of The Macerich Company (the "Company"), pursuant to 18 U.S.C. &#167;1350, each hereby certifies that, to the best of his knowledge: </font></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;padding-bottom:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the Quarterly Report on Form 10-Q for the quarter ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;of the Company (the "Report") fully complies with the requirements of Section 13(a) and 15(d) of the Securities Exchange Act of 1934, as amended; and </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:6px;padding-bottom:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:48px;"><font style="font-family:inherit;font-size:10pt;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. </font></div></td></tr></table><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;padding-left:72px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Date: </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">May&#160;6, 2016</font><font style="font-family:inherit;font-size:10pt;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:48%;"></td><td style="width:2%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ ARTHUR M. COPPOLA</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Chairman and Chief Executive Officer</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">/s/ THOMAS E. O'HERN</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="padding-bottom:6px;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Senior Executive Vice President and Chief Financial Officer</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:6px;padding-top:6px;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div><br></div>	</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>7
<FILENAME>mac-20160331.xml
<DESCRIPTION>XBRL INSTANCE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!--p:50d11b4e13fe48bab5fb266150e7a1c2,x:af8f1bb964274a59850a4655fa5a950f-->
<xbrli:xbrl xmlns:country="http://xbrl.sec.gov/country/2013-01-31" xmlns:currency="http://xbrl.sec.gov/currency/2014-01-31" xmlns:dei="http://xbrl.sec.gov/dei/2014-01-31" xmlns:exch="http://xbrl.sec.gov/exch/2015-01-31" xmlns:invest="http://xbrl.sec.gov/invest/2013-01-31" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:mac="http://www.macerich.com/20160331" xmlns:naics="http://xbrl.sec.gov/naics/2011-01-31" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:sic="http://xbrl.sec.gov/sic/2011-01-31" xmlns:stpr="http://xbrl.sec.gov/stpr/2011-01-31" xmlns:us-gaap="http://fasb.org/us-gaap/2015-01-31" xmlns:us-roles="http://fasb.org/us-roles/2015-01-31" xmlns:us-types="http://fasb.org/us-types/2015-01-31" xmlns:utreg="http://www.xbrl.org/2009/utr" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
	<link:schemaRef xlink:href="mac-20160331.xsd" xlink:type="simple" />
	<xbrli:context id="FD2016Q1YTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q2May5">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-05-05</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:ParentMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:ParentMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:CommonStockMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:NoncontrollingInterestMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:AdditionalPaidInCapitalMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:ParentMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:StatementEquityComponentsAxis">us-gaap:RetainedEarningsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q1">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2014Q4">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2014-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_dei_LegalEntityAxis_mac_TheMacerichPartnershipLPMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mac:TheMacerichPartnershipLPMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherLiabilitiesMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:OtherLiabilitiesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_BalanceSheetLocationAxis_mac_RealEstateInvestmentPropertyNetMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">mac:RealEstateInvestmentPropertyNetMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_SecuredDebtMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:SecuredDebtMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_SecuredDebtMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:SecuredDebtMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherLiabilitiesMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:OtherLiabilitiesMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherAssetsMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:OtherAssetsMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_BalanceSheetLocationAxis_mac_RealEstateInvestmentPropertyNetMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">mac:RealEstateInvestmentPropertyNetMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherAssetsMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BalanceSheetLocationAxis">us-gaap:OtherAssetsMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableInterestEntitiesByClassificationOfEntityAxis">us-gaap:VariableInterestEntityPrimaryBeneficiaryMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PreferredNonparticipatingConvertibleUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis">mac:PreferredNonparticipatingConvertibleUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PartnershipUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis">mac:PartnershipUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PartnershipUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis">mac:PartnershipUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PreferredNonparticipatingConvertibleUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis">mac:PreferredNonparticipatingConvertibleUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mac:PacificPremierRetailLPMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mac:OtherJointVenturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mac:OtherJointVenturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis">mac:PacificPremierRetailLPMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:ArrowheadTowneCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-01-06</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:MACHeitmanPortfolioMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-14</xbrli:startDate>
			<xbrli:endDate>2016-01-14</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:NorthwesternMutualLifeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:ArrowheadTowneCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PPRPortfolioMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-10-30</xbrli:startDate>
			<xbrli:endDate>2015-10-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Mar1_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:CountryClubPlazaMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-03-01</xbrli:startDate>
			<xbrli:endDate>2016-03-01</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_DeptfordMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:MACHeitmanPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:DeptfordMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-01-14</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_LakewoodCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PPRPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:LakewoodCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-10-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_SouthPlainsMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PPRPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:SouthPlainsMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-10-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:InlandCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-02-17</xbrli:startDate>
			<xbrli:endDate>2015-02-17</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:ArrowheadTowneCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-06</xbrli:startDate>
			<xbrli:endDate>2016-01-06</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q2Apr30_us-gaap_BusinessAcquisitionAxis_mac_SearsLocationsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:SearsLocationsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-04-30</xbrli:startDate>
			<xbrli:endDate>2015-04-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:NorthwesternMutualLifeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FlatIronCrossingMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:MACHeitmanPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FlatIronCrossingMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-01-14</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:PacificPremierRetailLLCMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q2Apr30_us-gaap_BusinessAcquisitionAxis_mac_SearsLocationsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:SearsLocationsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-04-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:PacificPremierRetailLLCMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:InlandCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-02-17</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:NorthwesternMutualLifeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:NorthwesternMutualLifeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_LosCerritosCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PPRPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:LosCerritosCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-10-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Mar1_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:CountryClubPlazaMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-01</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_WashingtonSquareMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PPRPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:WashingtonSquareMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-10-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Mar28_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:CountryClubPlazaMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-03-28</xbrli:startDate>
			<xbrli:endDate>2016-03-28</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Mar28_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:BusinessAcquisitionAxis">mac:CountryClubPlazaMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-28</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_TwentyNinthStreetMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:MACHeitmanPortfolioMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:TwentyNinthStreetMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-01-14</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_AccruedIncomeReceivableMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:AccruedIncomeReceivableMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2014Q1Mar17_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:NoteReceivable1Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2014-03-17</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:NoteReceivable1Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_AccruedIncomeReceivableMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:AccruedIncomeReceivableMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:NoteReceivable1Member</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:AboveMarketLeasesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis">mac:BelowMarketLeaseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis">us-gaap:AboveMarketLeasesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:FiniteLivedIntangibleAssetsByMajorClassAxis">mac:BelowMarketLeaseMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageOneMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsAtNiagaraMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:StonewoodCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ArrowheadTowneCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:StonewoodCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ArrowheadTowneCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SuperstitionSpringsCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsAtNiagaraMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageOneMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SuperstitionSpringsCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ArrowheadTowneCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-06</xbrli:startDate>
			<xbrli:endDate>2016-01-06</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheMallAtNorthgateMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FreeholdRacewayMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheMallAtNorthgateMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ArrowheadTowneCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-01-06</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SuperstitionSpringsCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheMallAtNorthgateMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TucsonLaEncantadaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageTwoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DanburyFairMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TowneMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PacificViewMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ChandlerFashionCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:VintageFaireMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:WestsidePavilionMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TucsonLaEncantadaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:VintageFaireMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageTwoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SantaMonicaPlaceMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ChandlerFashionCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:KingsPlazaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheOaksOneMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsOfChicagoMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TowneMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:KingsPlazaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:QueensCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheOaksOneMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FreeholdRacewayMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:MallOfVictorValleyMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TheOaksOneMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:GreenAcresMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageOneMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:GreenAcresMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TucsonLaEncantadaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:QueensCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlatIronCrossingMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FreeholdRacewayMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:QueensCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:MallOfVictorValleyMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:TowneMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsOfChicagoMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:WestsidePavilionMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:KingsPlazaMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SanTanVillageRegionalCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlagstaffMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:GreenAcresMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SanTanVillageRegionalCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:StonewoodCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SanTanVillageRegionalCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SantaMonicaPlaceMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlatIronCrossingMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:WestsidePavilionMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:MallOfVictorValleyMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsAtNiagaraMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlagstaffMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PacificViewMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DanburyFairMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FashionOutletsOfChicagoMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DeptfordMallMortgageTwoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:VintageFaireMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlagstaffMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ChandlerFashionCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FlatIronCrossingMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:SantaMonicaPlaceMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:FreeholdRacewayMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PacificViewMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:ArrowheadTowneCenterMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:DanburyFairMallMortgageMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PrasadaNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PrasadaNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_RangeAxis_us-gaap_MinimumMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RangeAxis">us-gaap:MinimumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">us-gaap:LondonInterbankOfferedRateLIBORMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2013Q1March29_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PrasadaNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2013-03-29</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2013Q1March29_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:PrasadaNoteMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2013-03-28</xbrli:startDate>
			<xbrli:endDate>2013-03-29</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">us-gaap:LondonInterbankOfferedRateLIBORMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_RangeAxis_us-gaap_MaximumMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RangeAxis">us-gaap:MaximumMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">us-gaap:LondonInterbankOfferedRateLIBORMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q4YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">us-gaap:LineOfCreditMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-12-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FreeholdRacewayMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2009-09-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2009Q3Sep30_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallAndChandlerFashionCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FreeholdRacewayMallAndChandlerFashionCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2009-09-29</xbrli:startDate>
			<xbrli:endDate>2009-09-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_ChandlerFashionCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:ChandlerFashionCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2009-09-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallAndChandlerFashionCenterMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FreeholdRacewayMallAndChandlerFashionCenterMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2009-09-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_dei_LegalEntityAxis_mac_TheMacerichPartnershipLPMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="dei:LegalEntityAxis">mac:TheMacerichPartnershipLPMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q2Feb17-Apr19_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:SubsequentEventTypeAxis">us-gaap:SubsequentEventMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-02-17</xbrli:startDate>
			<xbrli:endDate>2016-04-19</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q4Oct30">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-10-30</xbrli:startDate>
			<xbrli:endDate>2015-10-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2012Q3Aug17">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2012-08-17</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q2Apr19_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:SubsequentEventTypeAxis">us-gaap:SubsequentEventMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-04-19</xbrli:startDate>
			<xbrli:endDate>2016-04-19</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan19">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-19</xbrli:startDate>
			<xbrli:endDate>2016-01-19</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2015Q4Nov13">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-11-13</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Nov13-2015-Jan20-2016">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-11-13</xbrli:startDate>
			<xbrli:endDate>2016-01-20</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Feb22">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-02-22</xbrli:startDate>
			<xbrli:endDate>2016-02-22</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2014Q3Aug20">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2014-08-20</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q1Feb17">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-02-17</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q3">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-09-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q4Nov13">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-11-13</xbrli:startDate>
			<xbrli:endDate>2015-11-13</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FashionOutletsOfChicagoMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2014Q4Oct31_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FashionOutletsOfChicagoMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2014-10-31</xbrli:startDate>
			<xbrli:endDate>2014-10-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:FashionOutletsOfChicagoMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q4Nov19_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PanoramaMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PanoramaMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-11-19</xbrli:startDate>
			<xbrli:endDate>2015-11-19</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q2_us-gaap_DebtInstrumentAxis_mac_GreatNorthernMallMortgageMember_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_GreatNorthernMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:GreatNorthernMallMortgageMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:GreatNorthernMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-06-30</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2105Q4Nov19_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PanoramaMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:PanoramaMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-11-19</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2015Q2Jun30_us-gaap_DebtInstrumentAxis_mac_GreatNorthernMallMortgageMember_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_GreatNorthernMallMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:DebtInstrumentAxis">mac:GreatNorthernMallMortgageMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:GreatNorthernMallMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-06-30</xbrli:startDate>
			<xbrli:endDate>2015-06-30</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:CandlestickPointMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:CandlestickPointMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:UnconsolidatedJointVenturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:CandlestickPointMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VariableRateAxis">us-gaap:LondonInterbankOfferedRateLIBORMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:CandlestickPointMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">us-gaap:NotesReceivableMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis">mac:CandlestickPointMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">us-gaap:AffiliatedEntityMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:UnconsolidatedJointVenturesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis">mac:RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:RelatedPartyTransactionsByRelatedPartyAxis">mac:UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:EmployeeStockOptionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:EmployeeStockOptionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:StockAppreciationRightsSARSMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:EmployeeStockOptionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Mar4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheThreeMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VestingAxis">us-gaap:ShareBasedCompensationAwardTrancheThreeMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-03-04</xbrli:startDate>
			<xbrli:endDate>2016-03-04</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-01-01</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheTwoMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VestingAxis">us-gaap:ShareBasedCompensationAwardTrancheTwoMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-01-01</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheOneMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:VestingAxis">us-gaap:ShareBasedCompensationAwardTrancheOneMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-01-01</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:PhantomShareUnitsPSUsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockAwardsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockAwardsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-03-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:PhantomShareUnitsPSUsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockAwardsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-01-01</xbrli:startDate>
			<xbrli:endDate>2016-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockAwardsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockAwardsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:PhantomShareUnitsPSUsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2015-12-31</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:EmployeeStockOptionMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:LongTermIncentivePlanMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockUnitsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">us-gaap:PhantomShareUnitsPSUsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:AwardTypeAxis">mac:StockAwardsMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2015-01-01</xbrli:startDate>
			<xbrli:endDate>2015-03-31</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q2Apr26_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:SubsequentEventTypeAxis">us-gaap:SubsequentEventMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-04-26</xbrli:startDate>
			<xbrli:endDate>2016-04-26</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="I2016Q2Apr13_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_CapitolaMallMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:CapitolaMallMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:SubsequentEventTypeAxis">us-gaap:SubsequentEventMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:instant>2016-04-13</xbrli:instant>
		</xbrli:period>
	</xbrli:context>
	<xbrli:context id="D2016Q2Apr13_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_CapitolaMallMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember">
		<xbrli:entity>
			<xbrli:identifier scheme="http://www.sec.gov/CIK">0000912242</xbrli:identifier>
			<xbrli:segment>
				<xbrldi:explicitMember dimension="us-gaap:IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis">mac:CapitolaMallMember</xbrldi:explicitMember>
				<xbrldi:explicitMember dimension="us-gaap:SubsequentEventTypeAxis">us-gaap:SubsequentEventMember</xbrldi:explicitMember>
			</xbrli:segment>
		</xbrli:entity>
		<xbrli:period>
			<xbrli:startDate>2016-04-13</xbrli:startDate>
			<xbrli:endDate>2016-04-13</xbrli:endDate>
		</xbrli:period>
	</xbrli:context>
	<xbrli:unit id="dividend">
		<xbrli:measure>mac:dividend</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="sqft">
		<xbrli:measure>utreg:sqft</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="shares">
		<xbrli:measure>xbrli:shares</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="store">
		<xbrli:measure>mac:store</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="usd">
		<xbrli:measure>iso4217:USD</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="number">
		<xbrli:measure>xbrli:pure</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="entity">
		<xbrli:measure>mac:entity</xbrli:measure>
	</xbrli:unit>
	<xbrli:unit id="usdPerShare">
		<xbrli:divide>
			<xbrli:unitNumerator>
				<xbrli:measure>iso4217:USD</xbrli:measure>
			</xbrli:unitNumerator>
			<xbrli:unitDenominator>
				<xbrli:measure>xbrli:shares</xbrli:measure>
			</xbrli:unitDenominator>
		</xbrli:divide>
	</xbrli:unit>
	<dei:AmendmentFlag contextRef="FD2016Q1YTD" id="Fact-34EE145CC2995BAFBECBE41AC6B0B313">false</dei:AmendmentFlag>
	<dei:CurrentFiscalYearEndDate contextRef="FD2016Q1YTD" id="Fact-00262F3BD06552248159E99A24B2EC19">--12-31</dei:CurrentFiscalYearEndDate>
	<dei:DocumentFiscalPeriodFocus contextRef="FD2016Q1YTD" id="Fact-E4B4C584E98254A99D2302D147268E2F">Q1</dei:DocumentFiscalPeriodFocus>
	<dei:DocumentFiscalYearFocus contextRef="FD2016Q1YTD" id="Fact-2780023E57E45A6883B522A1DF778BD0">2016</dei:DocumentFiscalYearFocus>
	<dei:DocumentPeriodEndDate contextRef="FD2016Q1YTD" id="Fact-EA27395DE768548F8BA2174A19821303">2016-03-31</dei:DocumentPeriodEndDate>
	<dei:DocumentType contextRef="FD2016Q1YTD" id="Fact-06E96C2C8A1B5C678A9DB367336417E0">10-Q</dei:DocumentType>
	<dei:EntityCentralIndexKey contextRef="FD2016Q1YTD" id="Fact-F3BBE7238510503D9E19F9431B763771">0000912242</dei:EntityCentralIndexKey>
	<dei:EntityCommonStockSharesOutstanding contextRef="I2016Q2May5" decimals="INF" id="Fact-9EBDAEA220D55198980D7C28D199F965" unitRef="shares">148492665</dei:EntityCommonStockSharesOutstanding>
	<dei:EntityCurrentReportingStatus contextRef="FD2016Q1YTD" id="Fact-C839A5F87134595193EEFB0B3934951E">Yes</dei:EntityCurrentReportingStatus>
	<dei:EntityFilerCategory contextRef="FD2016Q1YTD" id="Fact-8233AD9006F45738A130A316BBF00788">Large Accelerated Filer</dei:EntityFilerCategory>
	<dei:EntityRegistrantName contextRef="FD2016Q1YTD" id="Fact-ABC2AE5D54AD502A8D479333B9947386">MACERICH CO</dei:EntityRegistrantName>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2015Q4Nov13" decimals="INF" id="Fact-36053E0EE44B5D31B56DAE45C0161802" unitRef="shares">4140788</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2016Q1Feb22" decimals="INF" id="Fact-320C23AB00FF5C449957171729A2510A" unitRef="shares">4222193</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2016Q1Jan19" decimals="INF" id="Fact-8D738C82EE6650CB9C4815D12B4A656D" unitRef="shares">970609</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2016Q1Nov13-2015-Jan20-2016" decimals="INF" id="Fact-84E6A058806E58B39CAC1EDF98F1E4B1" unitRef="shares">5111397</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2016Q2Apr19_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="INF" id="Fact-C19E54825C6506928448640946745C10" unitRef="shares">861235</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased contextRef="D2016Q2Feb17-Apr19_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="INF" id="Fact-96A0728569E32985FD85640E47F46276" unitRef="shares">5083428</mac:AcceleratedShareRepurchaseProgramNumberofSharesPurchased>
	<mac:AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets contextRef="FI2015Q4" decimals="-3" id="Fact-10AC831EE97A5AF4BAD4695B0E8D1BA6" unitRef="usd">300492000</mac:AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets>
	<mac:AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets contextRef="FI2016Q1" decimals="-3" id="Fact-5CE2881F0B605D76843336C47CCE5B77" unitRef="usd">255256000</mac:AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets>
	<mac:AcquisitionNoncontrollingInterestAdjustment contextRef="FD2016Q1YTD_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-E302F09CFD7953E0BEA1C4835777370A" unitRef="usd">76141000</mac:AcquisitionNoncontrollingInterestAdjustment>
	<mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-2F12422636085055BA347EA9865BCDBC" unitRef="usd">9752000</mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges>
	<mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-FD2F2FA435E75C1F92012827EE862A1C" unitRef="usd">50000000</mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable>
	<mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-1C8113792AE7577FB8C2AD42CF7DF008" unitRef="usd">5782000</mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets>
	<mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-42252DDFF7195B63A311781412078067" unitRef="usd">91871000</mac:BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty>
	<mac:BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="2" id="Fact-5BCBAD0668F95543BC09DA7C2C127C69" unitRef="number">0.50</mac:BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage>
	<mac:ConvertibleDebtLineOfCreditAndOtherNotesPayable contextRef="FI2015Q4" decimals="-3" id="Fact-746F06B86C5056AFB973C660A71DDE82" unitRef="usd">652163000</mac:ConvertibleDebtLineOfCreditAndOtherNotesPayable>
	<mac:ConvertibleDebtLineOfCreditAndOtherNotesPayable contextRef="FI2016Q1" decimals="-3" id="Fact-20C8ED24F6EA5B27ACBA5CCB2C3901B0" unitRef="usd">746919000</mac:ConvertibleDebtLineOfCreditAndOtherNotesPayable>
	<mac:CostsAndExpensesBeforeInterestTotal contextRef="FD2015Q1YTD" decimals="-3" id="Fact-199D6DD6D79F52C4A376A4350BDDBD64" unitRef="usd">270744000</mac:CostsAndExpensesBeforeInterestTotal>
	<mac:CostsAndExpensesBeforeInterestTotal contextRef="FD2016Q1YTD" decimals="-3" id="Fact-2D633139EF895ECAB5369DB00801E0FA" unitRef="usd">202784000</mac:CostsAndExpensesBeforeInterestTotal>
	<mac:DeferredCostsAndOtherAssetsGross contextRef="FI2015Q4" decimals="-3" id="Fact-AF51155398A353309A742D69A249CCE2" unitRef="usd">864783000</mac:DeferredCostsAndOtherAssetsGross>
	<mac:DeferredCostsAndOtherAssetsGross contextRef="FI2016Q1" decimals="-3" id="Fact-5769A77302925A39910B0FAA759D7381" unitRef="usd">760420000</mac:DeferredCostsAndOtherAssetsGross>
	<mac:DeferredCostsAndOtherAssetsNet contextRef="FI2015Q4" decimals="-3" id="Fact-B973F4FE9B045411A2A650E9EE69CD34" unitRef="usd">564291000</mac:DeferredCostsAndOtherAssetsNet>
	<mac:DeferredCostsAndOtherAssetsNet contextRef="FI2016Q1" decimals="-3" id="Fact-69E43BA1E564515E82A28295CDF581CC" unitRef="usd">505164000</mac:DeferredCostsAndOtherAssetsNet>
	<mac:DevelopmentAndLeasingFeesRevenue contextRef="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-CCA812602C625825AB4211B3903A0980" unitRef="usd">1892000</mac:DevelopmentAndLeasingFeesRevenue>
	<mac:DevelopmentAndLeasingFeesRevenue contextRef="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-DAFD9D7500BF56CCBAC02274B7FA47D2" unitRef="usd">2961000</mac:DevelopmentAndLeasingFeesRevenue>
	<mac:DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther contextRef="FD2015Q1YTD" decimals="-3" id="Fact-7EEDEFB46983564EA6B786D9621D936F" unitRef="usd">13096000</mac:DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther>
	<mac:DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther contextRef="FD2016Q1YTD" decimals="-3" id="Fact-A2F9E798420C5F7E89BC2C5133F51495" unitRef="usd">181900000</mac:DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther>
	<mac:DistributionsToCoVenturePartner contextRef="FD2015Q1YTD" decimals="-3" id="Fact-97281B6ACEA15C0E8C2BE5EC6C7F38D2" unitRef="usd">4716000</mac:DistributionsToCoVenturePartner>
	<mac:DistributionsToCoVenturePartner contextRef="FD2016Q1YTD" decimals="-3" id="Fact-1D2504A0B83F5B2E959DB14AF3DB6BF6" unitRef="usd">5105000</mac:DistributionsToCoVenturePartner>
	<mac:EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity contextRef="FD2015Q1YTD" decimals="-3" id="Fact-18071C9866045500A1C3F26F22504579" unitRef="usd">420000</mac:EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity>
	<mac:EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity contextRef="FD2016Q1YTD" decimals="-3" id="Fact-61812E08F88E5424881D575709EB1404" unitRef="usd">4457000</mac:EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity>
	<mac:EquityMethodInvestmentNotesPayableRelatedParty contextRef="FI2015Q4_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-C05269D2FDD2581487B83204CC94ECBB" unitRef="usd">460872000</mac:EquityMethodInvestmentNotesPayableRelatedParty>
	<mac:EquityMethodInvestmentNotesPayableRelatedParty contextRef="FI2016Q1_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-21B89A850C9651D08FFE5EA2EFF708B8" unitRef="usd">458843000</mac:EquityMethodInvestmentNotesPayableRelatedParty>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-F3C3F5044ADF57009A63C7E2BA7C3FA0" unitRef="usd">42178000</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-9884B529B6155AB6AE39958B5FAF087E" unitRef="usd">42178000</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-4BC22E0027C95822BC72E5005C665DEF" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0B353244CC205F26A28F1BEB2F88672C" unitRef="usd">63084000</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-DDD09DD81344542BBCD85BE2B7056CB4" unitRef="usd">53298000</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-E40E196C755B5FBCB54F822BBCED3643" unitRef="usd">9786000</mac:EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2015Q1YTD" decimals="-3" id="Fact-859C9DBE33FE5F0B9537D9F1B5B364A5" unitRef="usd">29670000</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-2FD144C491475A798692781B0E439ED3" unitRef="usd">29670000</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-36E3652F88B455709E03E2400B7E6384" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2016Q1YTD" decimals="-3" id="Fact-640EDD4EF4005601ADBB20AA15DEFE2A" unitRef="usd">84617000</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-BC7383DD9BDA5A35A78833323EBB7F5E" unitRef="usd">56533000</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-F7AD2AC192E4542289722595C5C4DD2A" unitRef="usd">28084000</mac:EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests contextRef="FI2015Q4" decimals="-3" id="Fact-A6D9AAB2409F5B6FB0771198A44D4B60" unitRef="usd">1293142000</mac:EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests contextRef="FI2016Q1" decimals="-3" id="Fact-CE447BE20A7D540382482784760598D1" unitRef="usd">2063630000</mac:EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember" decimals="-3" id="Fact-72A0F95FDD1F5657BBFB5B1C11508A72" unitRef="usd">311194000</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember" decimals="-3" id="Fact-C440D3166A5C66D936A45EB047935418" unitRef="usd">340741000</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="FD2016Q1YTD" decimals="-3" id="Fact-2585D9E8BBC75CD2A8034E7D5E1FBA9C" unitRef="usd">-5000</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="FD2016Q1YTD_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="-3" id="Fact-54E8B207A7121CE80E805EB05D2A6F4A" unitRef="usd">104293000</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-C11B508E1D6C5700BFB7D887997311BC" unitRef="usd">-5000</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-DDE04C62D87752B9BD7193DCB5D1FF71" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2015Q1YTD" decimals="-3" id="Fact-9C0FFEDC07575264B13C16DE342EA275" unitRef="usd">20383000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-3D518953D48257C489E8E0497CEA34AB" unitRef="usd">20383000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-D3C72FB331A35185B954CBB3FE1D71D0" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2016Q1YTD" decimals="-3" id="Fact-5CC7DE25F61C5E83A10F4CF1F1E954B7" unitRef="usd">42952000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-FC3D99B9425F5390B64C19C92F6325AB" unitRef="usd">27738000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-1D55CEAF99A55BFC9E71D217F2BE5F9F" unitRef="usd">15214000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpense>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty contextRef="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-45795E197750568488881ACE470562AB" unitRef="usd">8508000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty contextRef="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-296C0738EA385D199D715B05A4D9419B" unitRef="usd">6366000</mac:EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-1E237347960D5F26A5A18838A8C7D0FF" unitRef="usd">67522000</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-EDEA7A5ED69157539DCFFC1A5CFE8DB4" unitRef="usd">67522000</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-84C0A9AC80C85F468D2F1A7CE91B32BF" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-16DBEF446B5E50D7AEC5721E8F85BC2B" unitRef="usd">136956000</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-37DD750234DC51FA8D320DB592B5402E" unitRef="usd">106373000</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-E946819306085B31900022325FCDE92F" unitRef="usd">30583000</mac:EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2015Q1YTD" decimals="-3" id="Fact-85BF280EB1FB5EC198816032807393C8" unitRef="usd">92231000</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-4C46C2013CF8531B9E47EC5A25E46507" unitRef="usd">92231000</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-7BD51874FFF9506A9D60360D07A1DCA6" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2016Q1YTD" decimals="-3" id="Fact-2956AA110D6C5D9286D88431E7B9E8F3" unitRef="usd">190653000</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-6F0F63BB488F5C0DAD820234CD27C698" unitRef="usd">137569000</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-08C8F8198F1C5E8192791F5B7853F76D" unitRef="usd">53084000</mac:EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherAssets contextRef="FI2015Q4" decimals="-3" id="Fact-DE0BD300EAEA58A08EDA3209C7E91060" unitRef="usd">507718000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherAssets contextRef="FI2016Q1" decimals="-3" id="Fact-58F36A93A0125194928646A1471695BC" unitRef="usd">621668000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherAssets>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities contextRef="FI2015Q4" decimals="-3" id="Fact-2533F18EC0475641819E074AA9DCAA6E" unitRef="usd">355634000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities contextRef="FI2016Q1" decimals="-3" id="Fact-54F5DF23436250C4B8B45E27E1DE8627" unitRef="usd">442846000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-50C63612F1AC5B309A478538A0BF2AC5" unitRef="usd">7590000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-855D26964A1D5C4980115489B650D038" unitRef="usd">7590000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-BE3AFC59C6D6511A9F39016696FBF12D" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-61BB053846A254D0837A1A1DAFF8D655" unitRef="usd">13190000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-0CE0738638A45D8281ECBA42457480AA" unitRef="usd">10352000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-308FA1796C44583DB56938F4C3C180F2" unitRef="usd">2838000</mac:EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2015Q1YTD" decimals="-3" id="Fact-BDDCDD001759599EA185F8920D3F10B7" unitRef="usd">1623000</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-EFB7F36E9C0E5BF7B5220A6DD0D16445" unitRef="usd">1623000</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-41CE3CD0FD455CE6A0BE722510CBA169" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2016Q1YTD" decimals="-3" id="Fact-38CF99DFE0AD59AFA2DF456405EE6AF3" unitRef="usd">2512000</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-C05AC850DF2E586F8748474521AB79DB" unitRef="usd">1753000</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-31C428C5F06F51E7BE709632A1A8B94B" unitRef="usd">759000</mac:EquityMethodInvestmentSummarizedFinancialInformationPercentageRent>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet contextRef="FI2015Q4" decimals="-3" id="Fact-F8B0C8F2296E5CF1AB26A6BA993DD0A4" unitRef="usd">6334442000</mac:EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet contextRef="FI2016Q1" decimals="-3" id="Fact-921E2B1233FB50C2AF30A085F14A5B18" unitRef="usd">9246945000</mac:EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt contextRef="FI2015Q4" decimals="-3" id="Fact-D28D6847A4A35528965C92C3F6CD58F7" unitRef="usd">3607588000</mac:EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt contextRef="FI2016Q1" decimals="-3" id="Fact-E5D1C6F7CDCD5C58B1D32B347DE0E900" unitRef="usd">4926654000</mac:EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2015Q1YTD" decimals="-3" id="Fact-1F0D9A9FCE0257578D971E917D6F1D08" unitRef="usd">32363000</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-A72959B47DC256C8B7F55663C357CFFB" unitRef="usd">32363000</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-32F4AC810E97592784BE3FA3609661E0" unitRef="usd">0</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2016Q1YTD" decimals="-3" id="Fact-D0B45CB627565FFD9E093E0F1DEC64C9" unitRef="usd">55419000</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-D3D8BFA2A005502FB99C7CB52E4E5F26" unitRef="usd">43443000</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-E8A89B307E6C556C8B5EE5363B4C910D" unitRef="usd">11976000</mac:EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements>
	<mac:EquityMethodInvestmentsNet contextRef="FI2015Q4" decimals="-3" id="Fact-756E59612C1D50F893A4836FEED09E3C" unitRef="usd">1508095000</mac:EquityMethodInvestmentsNet>
	<mac:EquityMethodInvestmentsNet contextRef="FI2016Q1" decimals="-3" id="Fact-59A485D630805E8080CE2BBC6DD06250" unitRef="usd">1823521000</mac:EquityMethodInvestmentsNet>
	<mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold contextRef="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember" decimals="2" id="Fact-AE2499171FC55A6AA6AFAE88008B6277" unitRef="number">0.40</mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold>
	<mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold contextRef="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember" decimals="2" id="Fact-34A5B4B7C24A5D46B12BACC78B10A605" unitRef="number">0.49</mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold>
	<mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold contextRef="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="2" id="Fact-5392DF90366A545CB5347E75080E2341" unitRef="number">0.40</mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold>
	<mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold contextRef="FD2016Q1YTD_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="2" id="Fact-E5190630D76F5758B0FE5DBC5A21CF73" unitRef="number">0.40</mac:EquityMethodInvestmentsPercentageOfOwnershipInterestSold>
	<mac:FiniteLivedIntangibleAssetAboveMarketLeases contextRef="FI2015Q4" decimals="-3" id="Fact-051B42F110675E2AA747BA55EBEB2457" unitRef="usd">220847000</mac:FiniteLivedIntangibleAssetAboveMarketLeases>
	<mac:FiniteLivedIntangibleAssetAboveMarketLeases contextRef="FI2016Q1" decimals="-3" id="Fact-7AA46089FCE95B5B89D7EC6415B7BB71" unitRef="usd">210733000</mac:FiniteLivedIntangibleAssetAboveMarketLeases>
	<mac:FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts contextRef="FI2015Q4" decimals="-3" id="Fact-3C1F600CD1865155B96A15356DA0169E" unitRef="usd">52000000</mac:FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts>
	<mac:FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts contextRef="FI2016Q1" decimals="-3" id="Fact-2226B6CBCF8455DD897AF40106866B06" unitRef="usd">37556000</mac:FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts>
	<mac:GainLossOnLandSales contextRef="FD2015Q1YTD" decimals="-3" id="Fact-B4CF08ED7FF3532F9DF1DF6B5F01263A" unitRef="usd">1056000</mac:GainLossOnLandSales>
	<mac:GainLossOnLandSales contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0C2D8AE6D9985CD6853A76FF929BE399" unitRef="usd">2412000</mac:GainLossOnLandSales>
	<mac:GainLossonSaleorWriteDownofAssets contextRef="FD2015Q1YTD" decimals="-3" id="Fact-FB3E8E9CB2FD56D4BE4B514D3ECB7C18" unitRef="usd">935000</mac:GainLossonSaleorWriteDownofAssets>
	<mac:GainLossonSaleorWriteDownofAssets contextRef="FD2016Q1YTD" decimals="-3" id="Fact-3ED76AF0BCA456CDA963A3DB666CC8B6" unitRef="usd">434456000</mac:GainLossonSaleorWriteDownofAssets>
	<mac:GainsLossesonExtinguishmentofDebtIncludingPenalties contextRef="FD2015Q1YTD" decimals="-3" id="Fact-382DD32867A7506BAFD53D7FDDEA94DB" unitRef="usd">2245000</mac:GainsLossesonExtinguishmentofDebtIncludingPenalties>
	<mac:GainsLossesonExtinguishmentofDebtIncludingPenalties contextRef="FD2016Q1YTD" decimals="-3" id="Fact-D2764BD65F71539AB850618EE95EB041" unitRef="usd">-3575000</mac:GainsLossesonExtinguishmentofDebtIncludingPenalties>
	<mac:GuaranteeObligationsExposureIndemnifiedByThirdParty contextRef="FI2015Q4" decimals="-3" id="Fact-67FEE98545570E4CD90F5ECD5830EC0F" unitRef="usd">2500000</mac:GuaranteeObligationsExposureIndemnifiedByThirdParty>
	<mac:GuaranteeObligationsExposureIndemnifiedByThirdParty contextRef="FI2016Q1" decimals="-3" id="Fact-20F777167D9B5782ACF32A40DFEFC975" unitRef="usd">2500000</mac:GuaranteeObligationsExposureIndemnifiedByThirdParty>
	<mac:IncomeLossFromCoventureOperations contextRef="FD2015Q1YTD" decimals="-3" id="Fact-A4ADFD7C53BD50B3B2CFF14E430F3C2E" unitRef="usd">-2130000</mac:IncomeLossFromCoventureOperations>
	<mac:IncomeLossFromCoventureOperations contextRef="FD2016Q1YTD" decimals="-3" id="Fact-547F57041FE252BEBBDDA12D11C6BF1E" unitRef="usd">-3289000</mac:IncomeLossFromCoventureOperations>
	<mac:InterestExpensePayableRelatedParty contextRef="FI2015Q4_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-52A6F01904E55F34869490BD5020FBCC" unitRef="usd">756000</mac:InterestExpensePayableRelatedParty>
	<mac:InterestExpensePayableRelatedParty contextRef="FI2016Q1_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_NorthwesternMutualLifeMember" decimals="-3" id="Fact-20AA74DD7CC250FD8EB0E98F5D3F9236" unitRef="usd">751000</mac:InterestExpensePayableRelatedParty>
	<mac:InvestmentsInUnconsolidatedJointVentures contextRef="FI2015Q4" decimals="-3" id="Fact-10AFCDFACFD65625847CC48E70E91C4C" unitRef="usd">24457000</mac:InvestmentsInUnconsolidatedJointVentures>
	<mac:InvestmentsInUnconsolidatedJointVentures contextRef="FI2016Q1" decimals="-3" id="Fact-A349122C27F05A1A84278A12429F4BC3" unitRef="usd">20995000</mac:InvestmentsInUnconsolidatedJointVentures>
	<mac:JointVentureOwnershipPercentagePurchased contextRef="D2015Q2Apr30_us-gaap_BusinessAcquisitionAxis_mac_SearsLocationsMember" decimals="2" id="Fact-F3A833EFADAF55E2B136C64C0CF58130" unitRef="number">0.50</mac:JointVentureOwnershipPercentagePurchased>
	<mac:JointVentureOwnershipPercentageSold contextRef="D2009Q3Sep30_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallAndChandlerFashionCenterMember" decimals="3" id="Fact-3FF530FD9A945D4F90BCDB979C9B02D8" unitRef="number">0.499</mac:JointVentureOwnershipPercentageSold>
	<mac:LossonSaleorWriteDownofAssets contextRef="FD2015Q1YTD" decimals="-3" id="Fact-8AADF39CA247554E9057F24897E1DB37" unitRef="usd">-121000</mac:LossonSaleorWriteDownofAssets>
	<mac:ManagementDevelopmentAndLeasingFeesRevenue contextRef="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-0ECCD42BAA945A81993AB3DDE6C0F0E6" unitRef="usd">4103000</mac:ManagementDevelopmentAndLeasingFeesRevenue>
	<mac:ManagementDevelopmentAndLeasingFeesRevenue contextRef="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-4906DDD5A63C5F6D85B937605636C531" unitRef="usd">6914000</mac:ManagementDevelopmentAndLeasingFeesRevenue>
	<mac:ManagementFeesAndOtherRevenues contextRef="FD2015Q1YTD" decimals="-3" id="Fact-49D6D338C0EE5B8BA7402D77AF83432F" unitRef="usd">5625000</mac:ManagementFeesAndOtherRevenues>
	<mac:ManagementFeesAndOtherRevenues contextRef="FD2016Q1YTD" decimals="-3" id="Fact-379041494FB151109162D83674DD2539" unitRef="usd">8617000</mac:ManagementFeesAndOtherRevenues>
	<mac:MaximumAggregateCommonStockOfferPrice contextRef="FI2016Q1" decimals="INF" id="Fact-5FB18A7D58975596B93259412F0374D8" unitRef="usd">500000</mac:MaximumAggregateCommonStockOfferPrice>
	<mac:MaximumAggregateCommonStockOfferPrice contextRef="I2014Q3Aug20" decimals="INF" id="Fact-6D834C13D285594BBF1E3F1831BCEF22" unitRef="usd">500000000</mac:MaximumAggregateCommonStockOfferPrice>
	<mac:MinorityInterestRedemptionValue contextRef="FI2015Q4" decimals="-3" id="Fact-7BBA5826E7BD550A813F9645AB0DA060" unitRef="usd">870625000</mac:MinorityInterestRedemptionValue>
	<mac:MinorityInterestRedemptionValue contextRef="FI2016Q1" decimals="-3" id="Fact-15584A785927516AB3CFA3B0A6D36589" unitRef="usd">860925000</mac:MinorityInterestRedemptionValue>
	<mac:MinorityInterestRedemptionValueBasisNumberOfTradingDays contextRef="FD2016Q1YTD" id="Fact-03FF407432525FE5B56E917583A792F3">P10D</mac:MinorityInterestRedemptionValueBasisNumberOfTradingDays>
	<mac:MortgageNotesPayableProbableRecourseAmount contextRef="FI2015Q4" decimals="-3" id="Fact-DB27FE9C2A13319906585F8F62A37E2D" unitRef="usd">13500000</mac:MortgageNotesPayableProbableRecourseAmount>
	<mac:MortgageNotesPayableProbableRecourseAmount contextRef="FI2016Q1" decimals="-3" id="Fact-C2A2EC82783457E7A874C519B212C973" unitRef="usd">13500000</mac:MortgageNotesPayableProbableRecourseAmount>
	<mac:NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted contextRef="FD2015Q1YTD" decimals="-3" id="Fact-46BAF6D07E18543285AB2BAB1C32DBAF" unitRef="usd">24463000</mac:NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted>
	<mac:NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted contextRef="FD2016Q1YTD" decimals="-3" id="Fact-E18F5ADA50465812BE1A5A152B3FAB84" unitRef="usd">420495000</mac:NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted>
	<mac:NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture contextRef="FD2015Q1YTD" decimals="-3" id="Fact-880F3ECF7F2A551F81506127D32B6115" unitRef="usd">76250000</mac:NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture>
	<mac:NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture contextRef="FD2016Q1YTD" decimals="-3" id="Fact-A2BC4FCEE6CD570193586190C3BFABD1" unitRef="usd">0</mac:NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture>
	<mac:NotesReceivableInterestRate contextRef="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="INF" id="Fact-09DA945F134AD8BBBAEA7E5A716F6BCA" unitRef="number">0.0525</mac:NotesReceivableInterestRate>
	<mac:NotesReceivableInterestRate contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="4" id="Fact-4EA5F75B87C75DD3A9EC6B0C03ED5CBC" unitRef="number">0.0525</mac:NotesReceivableInterestRate>
	<mac:NotesReceivableInterestRate contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember" decimals="INF" id="Fact-9794163A76B65F65A6451287667FD1B0" unitRef="number">0.02</mac:NotesReceivableInterestRate>
	<mac:NotesReceivableInterestRate contextRef="I2014Q1Mar17_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member" decimals="3" id="Fact-477877C1FBA75F55AA54334C255AFB69" unitRef="number">0.065</mac:NotesReceivableInterestRate>
	<mac:NumberOfDividendsDeclared contextRef="D2015Q4Oct30" decimals="INF" id="Fact-F106BA9BDEA47F6FA2827DA49DE02974" unitRef="dividend">2</mac:NumberOfDividendsDeclared>
	<mac:NumberOfRealEstateManagementCompanies contextRef="FD2016Q1YTD" decimals="INF" id="Fact-2BCDBDBA20F356AC9AC519A0294F32A7" unitRef="entity">7</mac:NumberOfRealEstateManagementCompanies>
	<mac:PercentageOfCommissionToSalesAgent contextRef="I2012Q3Aug17" decimals="INF" id="Fact-DE23C52B0EBC50249C2ED75DA6001B1E" unitRef="number">0.02</mac:PercentageOfCommissionToSalesAgent>
	<mac:PercentageOfLoanAssumedByThirdParty contextRef="D2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="2" id="Fact-E8CBE1B85592558AB63916B8F2DEDA93" unitRef="number">0.40</mac:PercentageOfLoanAssumedByThirdParty>
	<mac:PercentageOfLoanAssumedByThirdParty contextRef="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="2" id="Fact-8595CEB4B4155CF6839D4B0F321F1599" unitRef="number">0.40</mac:PercentageOfLoanAssumedByThirdParty>
	<mac:PercentageOfLoanAssumedByThirdParty contextRef="FD2016Q1YTD_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallMember" decimals="3" id="Fact-32F2337E41F152DEB3BA9B8344385A0B" unitRef="number">0.499</mac:PercentageOfLoanAssumedByThirdParty>
	<mac:ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet contextRef="FD2015Q1YTD" decimals="-3" id="Fact-8D30D01C2C0453518C360A7069D7523E" unitRef="usd">1440000</mac:ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet>
	<mac:ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet contextRef="FD2016Q1YTD" decimals="-3" id="Fact-36AA96D856035BAF9D6CBF1265999854" unitRef="usd">600665000</mac:ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet>
	<mac:ProceedsfromDivestitureofBusinessAssumptionofDebt contextRef="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember" decimals="-3" id="Fact-7C3F390A4A10567E84B6077D43A9E17E" unitRef="usd">292870000</mac:ProceedsfromDivestitureofBusinessAssumptionofDebt>
	<mac:ProceedsfromDivestitureofBusinessAssumptionofDebt contextRef="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="-3" id="Fact-3CDD1B72D68B57A4B4D1E6B478E5B5E8" unitRef="usd">160000000</mac:ProceedsfromDivestitureofBusinessAssumptionofDebt>
	<mac:ProceedsfromDivestitureofBusinessCash contextRef="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember" decimals="-3" id="Fact-866D012FDA3B51FC992DF222F111DBEF" unitRef="usd">545643000</mac:ProceedsfromDivestitureofBusinessCash>
	<mac:ProceedsfromDivestitureofBusinessCash contextRef="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember" decimals="-3" id="Fact-C4A0A4C56DF452D689CAEC62649EB408" unitRef="usd">478608000</mac:ProceedsfromDivestitureofBusinessCash>
	<mac:ProceedsfromDivestitureofBusinessCash contextRef="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="-3" id="Fact-13DC1EF23A7C5FD2B0C861D48396A477" unitRef="usd">129496000</mac:ProceedsfromDivestitureofBusinessCash>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4" decimals="-3" id="Fact-4EB1FEFEFD0C5DF683BA35A17E8B0AB3" unitRef="usd">4427518000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-007C6620F85A5A8D867F333FCA8054EF" unitRef="usd">221194000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="-3" id="Fact-E8C66C19380359199E0858CC81E267BC" unitRef="usd">199766000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="-3" id="Fact-5FB7B900CB09524DB2D79D6CD21137AB" unitRef="usd">111079000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-5D80CED341255B51BFF20B9375818CD2" unitRef="usd">193337000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="-3" id="Fact-2646B082F7CF5CDBA89778C5C2F1C6F1" unitRef="usd">13999000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-89266DB287ED5804B219C1C9E4BCBFAA" unitRef="usd">117708000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="-3" id="Fact-D7847E99330D520F958779A9A229B5C0" unitRef="usd">198653000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="-3" id="Fact-35B5112C0C0151FA8EED061F8BCAAD3E" unitRef="usd">37000000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="-3" id="Fact-812F30A3E0FB5058BA46AC909CDDBF29" unitRef="usd">254075000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="-3" id="Fact-87FFA7A44A335119A9252415F49BC7F1" unitRef="usd">224836000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="-3" id="Fact-B92E76FA22195A44864D8E87D8227418" unitRef="usd">303960000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="-3" id="Fact-20E309A5C28759A6A06B3DF7362BF9A4" unitRef="usd">466266000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="-3" id="Fact-72B77E2A370C5DCDB7BCBAED8124E6A5" unitRef="usd">114500000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="-3" id="Fact-F4008D2974035492813FAC9161D49B31" unitRef="usd">130108000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="-3" id="Fact-81A475EAFC61516E8EEA5431749796A8" unitRef="usd">600000000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="-3" id="Fact-1BEE3F7E42255B278E2B159796A04366" unitRef="usd">130638000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="-3" id="Fact-3D831CD311445A4DA1F402A1E09BB721" unitRef="usd">224815000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-168F9574190856CCA942343049CFB527" unitRef="usd">105494000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-2ACA348004D75214BB0F977280A7C755" unitRef="usd">67749000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="-3" id="Fact-42EE3565F4205F539A0DC4C4ACBF04C4" unitRef="usd">63783000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="-3" id="Fact-7AE0D47075C15A638F44060ABD7084EC" unitRef="usd">205555000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="-3" id="Fact-A23FCA029E7E51EA93A0138F4A26C2C1" unitRef="usd">21956000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="-3" id="Fact-4A950E23553457E48C86E18263BF6C09" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="-3" id="Fact-6122C3D33D775EEFB88EBF10FE266FA7" unitRef="usd">274417000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="-3" id="Fact-990CABB99DD05653817AADF0E3E4A82C" unitRef="usd">146630000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1" decimals="-3" id="Fact-C9B52041F40251B78C4C12C5667E3E31" unitRef="usd">3732114000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-EFA5773EE6E950728498B794C29B7AD2" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="-3" id="Fact-08AF1D0C38B75777AAD745A032EAFFC4" unitRef="usd">199784000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="-3" id="Fact-E5C14B9800995E9EAA132539208206D5" unitRef="usd">110307000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-5FF2355579FB509BB903EE2BAA377124" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="-3" id="Fact-F0C60F1125345A57A6C561D1CC477983" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-27AC8A73533C5199A0750B992970717D" unitRef="usd">117903000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="-3" id="Fact-56D065B60367504E88735526511B4F0B" unitRef="usd">198688000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="-3" id="Fact-E80507BFE1AE5F83A62956DF9530A83D" unitRef="usd">37000000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="-3" id="Fact-761135710F9D5BEC8E1982C827BDD36D" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="-3" id="Fact-B0AAEBAA578751A9AD3930653AB33370" unitRef="usd">223805000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="-3" id="Fact-6E303038D6CE5A8C83C4444B911570FA" unitRef="usd">302428000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="-3" id="Fact-F326FC1486A8533D9F2780300368249C" unitRef="usd">463952000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="-3" id="Fact-25F57CF32C365DECB792D4330CF82174" unitRef="usd">114515000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="-3" id="Fact-C1880E7DB2405A13965A28FD75661982" unitRef="usd">129419000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="-3" id="Fact-674A971EA9D05D1B8FD1DF73CC66F7E0" unitRef="usd">600000000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="-3" id="Fact-9F351A3F2F615780BC313C847A0C2DB1" unitRef="usd">129911000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="-3" id="Fact-DF8D7FEE3A1B55379B728FBFC19BCDEF" unitRef="usd">223509000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-17E6577CB4F5572D9B81910B699DCD23" unitRef="usd">104023000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-327A97616FD8520081438805BCED9965" unitRef="usd">67674000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="-3" id="Fact-D45962E93FF556B0A7D9B054F9D48989" unitRef="usd">63777000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="-3" id="Fact-9C7D198BA4B553EE82240DEF1E97CA38" unitRef="usd">204492000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="-3" id="Fact-EA966B4C320E5EBC92156FBF210A4EF9" unitRef="usd">21860000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="-3" id="Fact-F89D72FE57DE538FBB01D157ACED80E9" unitRef="usd">0</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="-3" id="Fact-F47B36A15F3A54CB867B9998FD1602A7" unitRef="usd">273125000</mac:SecuredDebtNonrelatedParty>
	<mac:SecuredDebtNonrelatedParty contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="-3" id="Fact-4CE76365CAEE5AFCAB9FC4F8DA2DEA51" unitRef="usd">145942000</mac:SecuredDebtNonrelatedParty>
	<mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-F9E5F7797F7B52D388DF7110095ECBD2" unitRef="number">1</mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate>
	<mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-A2C5B51D681B5A0EBF52173A288AAC4F" unitRef="number">1</mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate>
	<mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="0" id="Fact-BEB60BE1A82E595385091C8815CA70D0" unitRef="shares">10185</mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment>
	<mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="2" id="Fact-CA8776379D9154FFAD2BE4C8F4221608" unitRef="usdPerShare">53.88</mac:SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue>
	<mac:SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="0" id="Fact-C8377E17D9795BD4836D4848BA4E3694" unitRef="shares">251</mac:SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment>
	<mac:SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="2" id="Fact-E785761EED965B98BD490E9D9BCFDB42" unitRef="usdPerShare">56.77</mac:SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice>
	<mac:UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted contextRef="FD2015Q1YTD" decimals="-3" id="Fact-93CFE69DD0785FB28AEF3FC7A1C959C4" unitRef="usd">148000</mac:UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted>
	<mac:UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted contextRef="FD2016Q1YTD" decimals="-3" id="Fact-CEB7206CA8E05438B191AFB51A717D57" unitRef="usd">420000</mac:UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted>
	<mac:WriteOffOfDevelopmentCost contextRef="FD2016Q1YTD" decimals="-3" id="Fact-AD76AB42390557DE82B692DEC8EE8171" unitRef="usd">696000</mac:WriteOffOfDevelopmentCost>
	<us-gaap:AcceleratedShareRepurchasesFinalPricePaidPerShare contextRef="D2016Q1Jan19" decimals="2" id="Fact-FDAB0A6A0EAF5CABA6EABDE94C7FA5FC" unitRef="usdPerShare">78.26</us-gaap:AcceleratedShareRepurchasesFinalPricePaidPerShare>
	<us-gaap:AcceleratedShareRepurchasesFinalPricePaidPerShare contextRef="D2016Q2Feb17-Apr19_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="2" id="Fact-7A2454393AF8DD79416A640E81A3AB02" unitRef="usdPerShare">78.69</us-gaap:AcceleratedShareRepurchasesFinalPricePaidPerShare>
	<us-gaap:AcceleratedShareRepurchasesSettlementPaymentOrReceipt contextRef="I2015Q4Nov13" decimals="-3" id="Fact-1670A1D96C8A516FBDB31F6D45450C8D" unitRef="usd">-400000000</us-gaap:AcceleratedShareRepurchasesSettlementPaymentOrReceipt>
	<us-gaap:AcceleratedShareRepurchasesSettlementPaymentOrReceipt contextRef="I2016Q1Feb17" decimals="-3" id="Fact-D857D8F090D551F08C3466A9858C6D8F" unitRef="usd">-400000000</us-gaap:AcceleratedShareRepurchasesSettlementPaymentOrReceipt>
	<us-gaap:AccountsAndNotesReceivableNet contextRef="FI2015Q4" decimals="-3" id="Fact-15FF55A9F9045D03A099701FC0C5DB4D" unitRef="usd">130002000</us-gaap:AccountsAndNotesReceivableNet>
	<us-gaap:AccountsAndNotesReceivableNet contextRef="FI2016Q1" decimals="-3" id="Fact-F1D0DF41CD06578E92026C3BEAF3AF4C" unitRef="usd">113188000</us-gaap:AccountsAndNotesReceivableNet>
	<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent contextRef="FI2015Q4" decimals="-3" id="Fact-175FABE8C6BB584F9ABEB4F4C38A98C5" unitRef="usd">74398000</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent>
	<us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent contextRef="FI2016Q1" decimals="-3" id="Fact-0DE130E4234458999D412AEE233C7275" unitRef="usd">64549000</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent>
	<us-gaap:AccountsReceivableGross contextRef="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_AccruedIncomeReceivableMember" decimals="-3" id="Fact-EECDB54EE57B5659BD5DEFC59ABFB833" unitRef="usd">10940000</us-gaap:AccountsReceivableGross>
	<us-gaap:AccountsReceivableGross contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_AccruedIncomeReceivableMember" decimals="-3" id="Fact-FFBAA3F1585D5463BF46520EF9113723" unitRef="usd">1157000</us-gaap:AccountsReceivableGross>
	<us-gaap:AdditionalPaidInCapitalCommonStock contextRef="FI2015Q4" decimals="-3" id="Fact-EE2236377E5C5233A359FE32C2E1BBE9" unitRef="usd">4926630000</us-gaap:AdditionalPaidInCapitalCommonStock>
	<us-gaap:AdditionalPaidInCapitalCommonStock contextRef="FI2016Q1" decimals="-3" id="Fact-4ED90B7E6EA85C3599DFBCA96C4C06A6" unitRef="usd">4841291000</us-gaap:AdditionalPaidInCapitalCommonStock>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD" decimals="-3" id="Fact-4677A32BAAB85B11BDAFE8BD0ADEBABA" unitRef="usd">18815000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="-3" id="Fact-3478660937A856FC8318F694CCB7F7CD" unitRef="usd">15228000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="-3" id="Fact-31F8123B3184531EBD5BE126D39E29DD" unitRef="usd">75000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="-3" id="Fact-5DC0E4AB063F57F48B3CE8196D6DDF5C" unitRef="usd">3197000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="-3" id="Fact-6D61C88F0B8F51D9B9E4F7DA6B882F94" unitRef="usd">4000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2015Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="-3" id="Fact-AE14278496785E728A5F5077DB725B41" unitRef="usd">311000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD" decimals="-3" id="Fact-2F71517ACD105BDA8C0022F0513B4CEF" unitRef="usd">21399000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="-3" id="Fact-06A5062153D15B769A8FA1312C1A6239" unitRef="usd">17399000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="-3" id="Fact-96E3C3972EB75EBEBE755486C4B7CB4F" unitRef="usd">20000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="-3" id="Fact-C976F9AB37BF5C17BCA17D3EEDAAE466" unitRef="usd">3372000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="-3" id="Fact-398401A66C415057AE1B01445519C86B" unitRef="usd">4000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllocatedShareBasedCompensationExpense contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="-3" id="Fact-1888FBF68D40541D82A47720A0226B67" unitRef="usd">604000</us-gaap:AllocatedShareBasedCompensationExpense>
	<us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables contextRef="FI2015Q4" decimals="-3" id="Fact-DEDDA9C9B1265DC293BC9DF6D805F62C" unitRef="usd">3072000</us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables>
	<us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables contextRef="FI2016Q1" decimals="-3" id="Fact-B5836F8021AE5494B7C0EE53E8AE48F9" unitRef="usd">2684000</us-gaap:AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables>
	<us-gaap:AmortizationOfAboveAndBelowMarketLeases contextRef="FD2015Q1YTD" decimals="-3" id="Fact-BF7DDA967DD5589B9F5DBA78A190BECF" unitRef="usd">-4666000</us-gaap:AmortizationOfAboveAndBelowMarketLeases>
	<us-gaap:AmortizationOfAboveAndBelowMarketLeases contextRef="FD2016Q1YTD" decimals="-3" id="Fact-C01F5E72EB2C57FD8CCAB6D59DA8C0A8" unitRef="usd">-1643000</us-gaap:AmortizationOfAboveAndBelowMarketLeases>
	<us-gaap:AmortizationOfDebtDiscountPremium contextRef="FD2015Q1YTD" decimals="-3" id="Fact-FF34481E65825AEE8D621CE9FC9D6D16" unitRef="usd">-6903000</us-gaap:AmortizationOfDebtDiscountPremium>
	<us-gaap:AmortizationOfDebtDiscountPremium contextRef="FD2016Q1YTD" decimals="-3" id="Fact-71083EA19AEB50298B28725963C58CFE" unitRef="usd">-1050000</us-gaap:AmortizationOfDebtDiscountPremium>
	<us-gaap:AmortizationOfIntangibleAssets contextRef="FD2015Q1YTD" decimals="-3" id="Fact-5A6EF1432A505C39A4221FA23243E560" unitRef="usd">21678000</us-gaap:AmortizationOfIntangibleAssets>
	<us-gaap:AmortizationOfIntangibleAssets contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0A8979EFE68657999AE26FCE36320BDF" unitRef="usd">8847000</us-gaap:AmortizationOfIntangibleAssets>
	<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="FD2015Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PartnershipUnitsMember" decimals="0" id="Fact-DAA2FA7B34B55736AAF1655BADDA6FE8" unitRef="shares">10516523</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
	<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="FD2015Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PreferredNonparticipatingConvertibleUnitsMember" decimals="0" id="Fact-7ADD40DD7ABC562091D561EA9613A125" unitRef="shares">140490</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
	<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="FD2016Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PartnershipUnitsMember" decimals="0" id="Fact-709BBC3BA07552CAAC28CDB4548C57A3" unitRef="shares">10820343</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
	<us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount contextRef="FD2016Q1YTD_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_mac_PreferredNonparticipatingConvertibleUnitsMember" decimals="0" id="Fact-7EDC4B9533065812B6348EE3BD4A0615" unitRef="shares">138759</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
	<us-gaap:AreaOfRealEstateProperty contextRef="FI2015Q2_us-gaap_DebtInstrumentAxis_mac_GreatNorthernMallMortgageMember_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_GreatNorthernMallMember" decimals="-3" id="Fact-82D2A35A9F425551A34BB0F46559071D" unitRef="sqft">895000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_ChandlerFashionCenterMember" decimals="-3" id="Fact-8331EB03E3975AC78F50853F4B925717" unitRef="sqft">1319000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallMember" decimals="-3" id="Fact-D873E6EB5B5052AA95515D47C1497CF7" unitRef="sqft">1670000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-F223EFCBBAEA5615910D53A87E7975B3" unitRef="sqft">867000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_LakewoodCenterMember" decimals="-3" id="Fact-8C7202C8E9BD564B8A0F81D013D068DE" unitRef="sqft">2075000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_LosCerritosCenterMember" decimals="-3" id="Fact-3349D04ABD195A63B5AE0EDC731005AB" unitRef="sqft">1296000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_SouthPlainsMallMember" decimals="-3" id="Fact-39D575EBC5AE57C8B3F187678F54CB37" unitRef="sqft">1127000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_WashingtonSquareMember" decimals="-3" id="Fact-0A254771C7F95E5AAE8A5B40AE6C8963" unitRef="sqft">1442000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_DeptfordMallMember" decimals="-3" id="Fact-F2A6B32F1B785C1F9D051B29975ADF7B" unitRef="sqft">1040000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FlatIronCrossingMember" decimals="-3" id="Fact-BF1162840B655CC4B2AFD7EC1B189CAD" unitRef="sqft">1432000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_TwentyNinthStreetMember" decimals="-3" id="Fact-6000F03264A25FE49D7693D23F6E13CF" unitRef="sqft">852000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="-3" id="Fact-0A49A6924464502A9E4BEADA23DBC6BB" unitRef="sqft">1197000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q1Mar1_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember" decimals="-5" id="Fact-3172620C43C25CC0B8D6EC24BA44B24E" unitRef="sqft">1300000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2016Q2Apr13_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_CapitolaMallMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="-3" id="Fact-05176174CADCF6E738B46496561F5BA7" unitRef="sqft">586000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:AreaOfRealEstateProperty contextRef="I2105Q4Nov19_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PanoramaMallMember" decimals="-3" id="Fact-CCFE71F1321F5D15A7779757EC5AFAB8" unitRef="sqft">312000</us-gaap:AreaOfRealEstateProperty>
	<us-gaap:Assets contextRef="FI2015Q4" decimals="-3" id="Fact-5612F49B449C54FF974090DCF39916DB" unitRef="usd">11235584000</us-gaap:Assets>
	<us-gaap:Assets contextRef="FI2016Q1" decimals="-3" id="Fact-110F45677D8351A4BCEA22CB47BE802F" unitRef="usd">10211345000</us-gaap:Assets>
	<us-gaap:BelowMarketLeaseAccumulatedAmortization contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-4BC1164CC5815D01A491BB2D954FACDF" unitRef="usd">101872000</us-gaap:BelowMarketLeaseAccumulatedAmortization>
	<us-gaap:BelowMarketLeaseAccumulatedAmortization contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-C579A501D741524D98C05210DF22DD02" unitRef="usd">91718000</us-gaap:BelowMarketLeaseAccumulatedAmortization>
	<us-gaap:BelowMarketLeaseGross contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-7693E5EA36D751DEA3C194D2B63597E7" unitRef="usd">227063000</us-gaap:BelowMarketLeaseGross>
	<us-gaap:BelowMarketLeaseGross contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-5BB6D521785B5023B575F06C861C312D" unitRef="usd">202454000</us-gaap:BelowMarketLeaseGross>
	<us-gaap:BelowMarketLeaseNet contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-E3D374D8CFF15B07A956FDFFE25EED34" unitRef="usd">125191000</us-gaap:BelowMarketLeaseNet>
	<us-gaap:BelowMarketLeaseNet contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_mac_BelowMarketLeaseMember" decimals="-3" id="Fact-56EBB145F5F550C1BB241D3B7DE0A176" unitRef="usd">110736000</us-gaap:BelowMarketLeaseNet>
	<us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="INF" id="Fact-7F435695475453839AE37F46DC7E3E59" unitRef="number">1</us-gaap:BusinessAcquisitionPercentageOfVotingInterestsAcquired>
	<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="D2014Q4Oct31_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-69EACE8767C855F993539474AEF5743F" unitRef="usd">69987000</us-gaap:BusinessCombinationConsiderationTransferred1>
	<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-8474593F3B5D596D828900D377B86437" unitRef="usd">51250000</us-gaap:BusinessCombinationConsiderationTransferred1>
	<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="D2015Q2Apr30_us-gaap_BusinessAcquisitionAxis_mac_SearsLocationsMember" decimals="-3" id="Fact-007E93B847D555929288A0CAA3960FFD" unitRef="usd">150000000</us-gaap:BusinessCombinationConsiderationTransferred1>
	<us-gaap:BusinessCombinationConsiderationTransferred1 contextRef="D2016Q1Mar1_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember" decimals="-3" id="Fact-FD8C1D7754185FE5BFB52E9E8279772D" unitRef="usd">660000000</us-gaap:BusinessCombinationConsiderationTransferred1>
	<us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1 contextRef="FD2016Q1YTD" decimals="-3" id="Fact-D113821F91AAABD7AD925EDC2BF3DF26" unitRef="usd">-12294000</us-gaap:BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1>
	<us-gaap:BusinessCombinationContingentConsiderationLiability contextRef="FI2016Q1_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-20545A1B5F0D5194979235A89335287C" unitRef="usd">23459000</us-gaap:BusinessCombinationContingentConsiderationLiability>
	<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-DCC6C9501164582AAC16CF672BBBF479" unitRef="usd">107405000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets>
	<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-22E8482F5F3358B2BB08C3706CE2B1ED" unitRef="usd">4905000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther>
	<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-A8AC4A9236B25C5C8261714B1B087A85" unitRef="usd">54905000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities>
	<us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-4392D5C8AB9B5D68BC6D1820453D8EAE" unitRef="usd">52500000</us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet>
	<us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1 contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-97DD2CD213F65836A19F2D53B1AE9CB4" unitRef="usd">26250000</us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1>
	<us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="2" id="Fact-05BD1CF91B735A799C1C0D3E7447FFFE" unitRef="number">0.50</us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage>
	<us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-5E913DF7EE8150B49C4A8B01A071AC41" unitRef="usd">22089000</us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss>
	<us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss contextRef="FD2015Q1YTD" decimals="-3" id="Fact-F571FA2445F8512B85F08E70EE9F51E0" unitRef="usd">22103000</us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss>
	<us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss contextRef="FD2016Q1YTD" decimals="-3" id="Fact-68BA8B3AC50D5528A78A143EB7EEFF38" unitRef="usd">0</us-gaap:BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss>
	<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="FI2014Q4" decimals="-3" id="Fact-B954F81133385294805948CD937ABE7B" unitRef="usd">84907000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
	<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="FI2015Q1" decimals="-3" id="Fact-64075B0B70865F7B92C8E86499AD3612" unitRef="usd">118161000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
	<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="FI2015Q4" decimals="-3" id="Fact-F1047E4F094A57CD934FF46D3481DE3D" unitRef="usd">86510000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
	<us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="FI2016Q1" decimals="-3" id="Fact-8787844ADE415A4E9E8C2C38028B1492" unitRef="usd">106505000</us-gaap:CashAndCashEquivalentsAtCarryingValue>
	<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="FD2015Q1YTD" decimals="-3" id="Fact-9556702688315D4688F34B9361F17665" unitRef="usd">33254000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
	<us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease contextRef="FD2016Q1YTD" decimals="-3" id="Fact-12C2090E9EFE5D32BBAA197CEBE2B77C" unitRef="usd">19995000</us-gaap:CashAndCashEquivalentsPeriodIncreaseDecrease>
	<us-gaap:CommitmentsAndContingencies contextRef="FI2015Q4" id="Fact-CFBF2FED337E5698AFBDEB561FF3F8C6" unitRef="usd" xsi:nil="true" />
	<us-gaap:CommitmentsAndContingencies contextRef="FI2016Q1" id="Fact-23D663A1316B58D3888723A8A9E6327D" unitRef="usd" xsi:nil="true" />
	<us-gaap:CommonStockDividendsPerShareCashPaid contextRef="FD2016Q1YTD" decimals="INF" id="Fact-5BEE1391D00D513D8077911530BD4E23" unitRef="usdPerShare">0.68</us-gaap:CommonStockDividendsPerShareCashPaid>
	<us-gaap:CommonStockDividendsPerShareDeclared contextRef="D2015Q4Oct30" decimals="INF" id="Fact-A4588D62630EF8AC26787DA5E36D9127" unitRef="usdPerShare">2.00</us-gaap:CommonStockDividendsPerShareDeclared>
	<us-gaap:CommonStockDividendsPerShareDeclared contextRef="D2016Q2Apr26_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="INF" id="Fact-E4FB40E210935A5B80710FC2D38C2B78" unitRef="usdPerShare">0.68</us-gaap:CommonStockDividendsPerShareDeclared>
	<us-gaap:CommonStockParOrStatedValuePerShare contextRef="FI2015Q4" decimals="INF" id="Fact-924B69B8EDF556B09A1DD2AE41EC5189" unitRef="usdPerShare">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
	<us-gaap:CommonStockParOrStatedValuePerShare contextRef="FI2016Q1" decimals="INF" id="Fact-1588E7FA2E3456D6A31954EE52B83DC6" unitRef="usdPerShare">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
	<us-gaap:CommonStockParOrStatedValuePerShare contextRef="I2012Q3Aug17" decimals="INF" id="Fact-66994149C8BC591994B3DCC31383DFFD" unitRef="usdPerShare">0.01</us-gaap:CommonStockParOrStatedValuePerShare>
	<us-gaap:CommonStockSharesAuthorized contextRef="FI2015Q4" decimals="INF" id="Fact-FE6D2A8844545C10B99AAE023BE62ACC" unitRef="shares">250000000</us-gaap:CommonStockSharesAuthorized>
	<us-gaap:CommonStockSharesAuthorized contextRef="FI2016Q1" decimals="INF" id="Fact-7EE31985F2775E169B2D3029130B9167" unitRef="shares">250000000</us-gaap:CommonStockSharesAuthorized>
	<us-gaap:CommonStockSharesIssued contextRef="FI2015Q4" decimals="INF" id="Fact-AA498CE7D3155F8BA5565ABCB22DB71E" unitRef="shares">154404986</us-gaap:CommonStockSharesIssued>
	<us-gaap:CommonStockSharesIssued contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="INF" id="Fact-58477C5E94F55E52A926E39BFF50CB6A" unitRef="shares">154404986</us-gaap:CommonStockSharesIssued>
	<us-gaap:CommonStockSharesIssued contextRef="FI2016Q1" decimals="INF" id="Fact-4D5C00D833FD5D00ADFD907D286B5C0F" unitRef="shares">149455915</us-gaap:CommonStockSharesIssued>
	<us-gaap:CommonStockSharesIssued contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="INF" id="Fact-B16246096547552784325CFECB62E68C" unitRef="shares">149455915.000</us-gaap:CommonStockSharesIssued>
	<us-gaap:CommonStockSharesOutstanding contextRef="FI2015Q4" decimals="INF" id="Fact-04233ACD57A55E8B8B0BA56CCB323B21" unitRef="shares">154404986</us-gaap:CommonStockSharesOutstanding>
	<us-gaap:CommonStockSharesOutstanding contextRef="FI2016Q1" decimals="INF" id="Fact-FFFC939AB2EF56FB9FFB9EA4D54F1144" unitRef="shares">149455915</us-gaap:CommonStockSharesOutstanding>
	<us-gaap:CommonStockValue contextRef="FI2015Q4" decimals="-3" id="Fact-0AE876AC40C55FF0BB9110B8F2055CAF" unitRef="usd">1544000</us-gaap:CommonStockValue>
	<us-gaap:CommonStockValue contextRef="FI2016Q1" decimals="-3" id="Fact-3E5992605CB254D4AD5F9549F1E6D855" unitRef="usd">1495000</us-gaap:CommonStockValue>
	<us-gaap:ConstructionInProgressExpendituresIncurredButNotYetPaid contextRef="FD2015Q1YTD" decimals="-3" id="Fact-8163079DEFF55D27BD05BD129CA7EE90" unitRef="usd">31823000</us-gaap:ConstructionInProgressExpendituresIncurredButNotYetPaid>
	<us-gaap:ConstructionInProgressExpendituresIncurredButNotYetPaid contextRef="FD2016Q1YTD" decimals="-3" id="Fact-A0DE2E2DFF365F0D9E40358EFDA89E4B" unitRef="usd">22887000</us-gaap:ConstructionInProgressExpendituresIncurredButNotYetPaid>
	<us-gaap:ConstructionPayableCurrent contextRef="FI2016Q1" decimals="-3" id="Fact-6D4D449DD3F35B54B7E87457B2D46342" unitRef="usd">62832000</us-gaap:ConstructionPayableCurrent>
	<us-gaap:ConversionOfStockAmountConverted1 contextRef="FD2015Q1YTD" decimals="-3" id="Fact-E548F06F29D452E6A8E3DDF59AF10915" unitRef="usd">1553000</us-gaap:ConversionOfStockAmountConverted1>
	<us-gaap:ConversionOfStockAmountConverted1 contextRef="FD2016Q1YTD" decimals="-3" id="Fact-A158D6B78C0459FDA8CD512F9838E790" unitRef="usd">3108000</us-gaap:ConversionOfStockAmountConverted1>
	<us-gaap:CostOfRealEstateRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-92250C31474056718FFF0CF4C71F2B4D" unitRef="usd">101664000</us-gaap:CostOfRealEstateRevenue>
	<us-gaap:CostOfRealEstateRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-E10B7848F5175FE5AC5F51226746B6BA" unitRef="usd">79324000</us-gaap:CostOfRealEstateRevenue>
	<us-gaap:CostsAndExpenses contextRef="FD2015Q1YTD" decimals="-3" id="Fact-1E10344608F65098B76E0BA53AAF59A9" unitRef="usd">321785000</us-gaap:CostsAndExpenses>
	<us-gaap:CostsAndExpenses contextRef="FD2016Q1YTD" decimals="-3" id="Fact-9AEFA37218C15F6EB712F540EEDC7680" unitRef="usd">246135000</us-gaap:CostsAndExpenses>
	<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="FD2015Q1YTD" decimals="-3" id="Fact-586CE4641DA25EE395C81784A538D660" unitRef="usd">0</us-gaap:CurrentIncomeTaxExpenseBenefit>
	<us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="FD2016Q1YTD" decimals="-3" id="Fact-ED792CB938C25CE5895F09DBE658F522" unitRef="usd">0</us-gaap:CurrentIncomeTaxExpenseBenefit>
	<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="INF" id="Fact-9C33263959D7538FB7972B7BF8428D98" unitRef="number">0.023</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
	<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="INF" id="Fact-3206ECF15A055D19A6BCAC46742B4EB5" unitRef="number">0.0225</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
	<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_RangeAxis_us-gaap_MaximumMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember" decimals="2" id="Fact-21A8BFEE9CFB5AF682B60E55C3ED2E96" unitRef="number">0.02</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
	<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_RangeAxis_us-gaap_MinimumMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember" decimals="4" id="Fact-7FC37407CE085CB9A52E30FAB31D3359" unitRef="number">0.0138</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
	<us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember_us-gaap_VariableRateAxis_us-gaap_LondonInterbankOfferedRateLIBORMember" decimals="INF" id="Fact-E4ABD9B5D34C58759EAA3C35E8959640" unitRef="number">0.015</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
	<us-gaap:DebtInstrumentCarryingAmount contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="-3" id="Fact-8D4B7CF2AFAA59FBACC3EE1B588AFE24" unitRef="usd">9130000</us-gaap:DebtInstrumentCarryingAmount>
	<us-gaap:DebtInstrumentCarryingAmount contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="-3" id="Fact-9B1A05EFB18C54DCA60B5FA417432708" unitRef="usd">8218000</us-gaap:DebtInstrumentCarryingAmount>
	<us-gaap:DebtInstrumentDescriptionOfVariableRateBasis contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" id="Fact-FABD0101721D53C996B7FB2ED91F4CD9">LIBOR</us-gaap:DebtInstrumentDescriptionOfVariableRateBasis>
	<us-gaap:DebtInstrumentFaceAmount contextRef="I2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-1812A3F289095FCFABDFB38CA48010E5" unitRef="usd">400000000</us-gaap:DebtInstrumentFaceAmount>
	<us-gaap:DebtInstrumentFairValue contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="-3" id="Fact-5911F1482FE35B39A36A13F4BE6894A5" unitRef="usd">9168000</us-gaap:DebtInstrumentFairValue>
	<us-gaap:DebtInstrumentFairValue contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="-3" id="Fact-F69EA72518AF5D0A9F139EFCEA4BC613" unitRef="usd">8244000</us-gaap:DebtInstrumentFairValue>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="4" id="Fact-5EABE9E138025040B0F8F2D1F0F4893D" unitRef="number">0.0217</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="4" id="Fact-A73BB1574E365B96905DBBC4CFA2CDEA" unitRef="number">0.0330</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="4" id="Fact-8CE4C25DCFA805340EA6785C4A5C4103" unitRef="number">0.0000</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="4" id="Fact-D5FFBB2D583E589E969E85A131D23A43" unitRef="number">0.0377</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="4" id="Fact-E4A1099BCAD9505992ECF7895F93C324" unitRef="number">0.0553</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="4" id="Fact-1F1C28F3827E0D5872B3785C4A6506F3" unitRef="number">0.0000</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="4" id="Fact-005106B786B81B397EAC785C4A6E897F" unitRef="number">0.0000</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="4" id="Fact-31BA4E31D2085949914147E7A40CC998" unitRef="number">0.0489</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="4" id="Fact-9555910289A25596AF31FC701358585B" unitRef="number">0.0210</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="4" id="Fact-835BC5817E275412B2B4D21B9D5B447C" unitRef="number">0.0897</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="4" id="Fact-8694DB734A3293B512F4785C4A61845D" unitRef="number">0.0000</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="4" id="Fact-BBDC08B4130D58FC8225EC7C9ED00994" unitRef="number">0.0420</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="4" id="Fact-953D2638E2F95D14ABF40A321EDF94BD" unitRef="number">0.0361</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="4" id="Fact-E05719182D5B59DB8C4ECFDB4C99D308" unitRef="number">0.0367</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="4" id="Fact-CACDD9316BB15162874325B14EF4B027" unitRef="number">0.0400</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="4" id="Fact-0EE0CB5A596C5178BCE3A233A364E676" unitRef="number">0.0408</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="4" id="Fact-B1323A2D8658532D926BF4D3A0E82DA8" unitRef="number">0.0349</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="4" id="Fact-BA2D337BE6F252A0A3E6D763B44FE53D" unitRef="number">0.0314</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="4" id="Fact-023992EC4C1F54739F3D88920D892C66" unitRef="number">0.0299</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="4" id="Fact-3AD3D7FD79AD5385A2C75A197886EAEE" unitRef="number">0.0180</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="4" id="Fact-1A828C3B31CF5FF9B7D4F2F2B5F0CED5" unitRef="number">0.0226</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="4" id="Fact-11897008660C5EC68E4554B7C9EA28ED" unitRef="number">0.0332</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="4" id="Fact-C0BFEC2912A85048BDB08C883AE5CB81" unitRef="number">0.0414</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="4" id="Fact-4047D617E80654CE8586744017532255" unitRef="number">0.0448</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="4" id="Fact-7B08E45B33815D68AFB90E88119807BC" unitRef="number">0.0423</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="4" id="Fact-2414E9375C88519082C717EDD124E0F6" unitRef="number">0.0355</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="4" id="Fact-C1AD79C9906151DDB740E4603754F4ED" unitRef="number">0.0449</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="I2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="4" id="Fact-5A4A2387B9C45F0D827278E79882DEDD" unitRef="number">0.0405</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateEffectivePercentage contextRef="I2016Q1Mar28_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember" decimals="4" id="Fact-109B9C15B591DCA18B695EB6FA48C516" unitRef="number">0.0388</us-gaap:DebtInstrumentInterestRateEffectivePercentage>
	<us-gaap:DebtInstrumentInterestRateStatedPercentage contextRef="I2013Q1March29_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="INF" id="Fact-3C556E1AACEE5F7CA9393ECF84CEDA21" unitRef="number">0.0525</us-gaap:DebtInstrumentInterestRateStatedPercentage>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-FBEDAC20D38828035020785C4A59BE51" unitRef="usd">0</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="-3" id="Fact-46103104D297510B88633B48485B797E" unitRef="usd">625000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="-3" id="Fact-C19D55CEC2675B35A59F587FFBDCC14A" unitRef="usd">1538000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-10666C9319D0CC101FC1785C4A6B0553" unitRef="usd">0</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="-3" id="Fact-53A5AAE973EEEB44CE30785C4A4C3006" unitRef="usd">0</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-20497C991BDD586A91756D2EDB88EAA7" unitRef="usd">727000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="-3" id="Fact-32208BA701FE5867B0602A6E13EBE360" unitRef="usd">323000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="-3" id="Fact-BB1E1E3F513C5405B81E891DFE22C3BE" unitRef="usd">153000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="-3" id="Fact-F1468D07CBC1402B2FAD785C4A687D26" unitRef="usd">0</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="-3" id="Fact-4F54828EF1385C43B64FCA3D2D0D5AEF" unitRef="usd">1132000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="-3" id="Fact-11CF2BDC8ED55D8992E514E3AE517532" unitRef="usd">1447000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="-3" id="Fact-14147C3E26CF5B64858C45AC884CF799" unitRef="usd">2229000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="-3" id="Fact-5BEDB77DC34E55EE95B9D2BF7492316F" unitRef="usd">380000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="-3" id="Fact-043791C949BB5AFF9F74D60DA2115E43" unitRef="usd">668000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="-3" id="Fact-F9AA91DBC88553D2A33F13987BFE6DA9" unitRef="usd">1744000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="-3" id="Fact-3AD54365C4B85E94A23B4A48A85C1B2D" unitRef="usd">589000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="-3" id="Fact-23D78FACF448583C8BBF1568195797CF" unitRef="usd">1004000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-04F1DD5DDD6358B6B025C194B7911208" unitRef="usd">640000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-186B93C6828C5F03AF2D5BE3EB8B0635" unitRef="usd">154000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="-3" id="Fact-6B72479F723053AAACEDCB74B3B8AA3B" unitRef="usd">143000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="-3" id="Fact-75258BC3D2B85B71AEEB8067F35C5F2E" unitRef="usd">1064000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="-3" id="Fact-262142F0CC6D50A2BCE8F9F6821C6ADD" unitRef="usd">117000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="-3" id="Fact-A0F77817F46C521B8EC65B252485CC1E" unitRef="usd">368000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="-3" id="Fact-E24DC35F3C575372B8DEAF7293C03ED8" unitRef="usd">1255000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentPeriodicPayment contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="-3" id="Fact-2E9A286056515D7B83B4FBA7AC6F14F7" unitRef="usd">783000</us-gaap:DebtInstrumentPeriodicPayment>
	<us-gaap:DebtInstrumentUnamortizedDiscount contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-8BA781A54C0251EE881E734EF44C1B5C" unitRef="usd">3000</us-gaap:DebtInstrumentUnamortizedDiscount>
	<us-gaap:DebtInstrumentUnamortizedDiscount contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-A16C98F8C3505EE7B7733580267A6CEE" unitRef="usd">0</us-gaap:DebtInstrumentUnamortizedDiscount>
	<us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet contextRef="FI2015Q4" decimals="-3" id="Fact-BCA94333E7F450BD9EDCF81E7D1F5D69" unitRef="usd">18408000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet>
	<us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet contextRef="FI2016Q1" decimals="-3" id="Fact-F10B37929265568990F74E390A2E703C" unitRef="usd">8905000</us-gaap:DebtInstrumentUnamortizedDiscountPremiumNet>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-C795F65020D053DA918221B8EB9E8B31" unitRef="usd">8494000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-8BC40D4E7E985F28A01BFF5DE9031B6A" unitRef="usd">4486000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-D228B5F06AA35A038DA89D9FA519767E" unitRef="usd">5168000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-0A2B72A3C7915EEB8285A0E198BE0BE4" unitRef="usd">263000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-345FB51EF09252AFA68240B24D518AF7" unitRef="usd">0</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-E26D81E3393953489C290F6CC16CE1AB" unitRef="usd">4254000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-E8B38D4170DB566BAABD37CED287828E" unitRef="usd">4467000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DebtInstrumentUnamortizedPremium contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-24E45E0F6EE95AF59151A045997E1939" unitRef="usd">184000</us-gaap:DebtInstrumentUnamortizedPremium>
	<us-gaap:DeferredCompensationPlanAssets contextRef="FI2015Q4" decimals="-3" id="Fact-A231FD8423E75974899D43533F94729D" unitRef="usd">37341000</us-gaap:DeferredCompensationPlanAssets>
	<us-gaap:DeferredCompensationPlanAssets contextRef="FI2016Q1" decimals="-3" id="Fact-340B1672A9305BBEBC50D9F9B769DD5F" unitRef="usd">37818000</us-gaap:DeferredCompensationPlanAssets>
	<us-gaap:DeferredCostsAndOtherAssets contextRef="FI2015Q4" decimals="-3" id="Fact-954794A360625D9A970361247639017C" unitRef="usd">564291000</us-gaap:DeferredCostsAndOtherAssets>
	<us-gaap:DeferredCostsAndOtherAssets contextRef="FI2016Q1" decimals="-3" id="Fact-41BC85FEAA345E32B9175EC0701C5E10" unitRef="usd">505164000</us-gaap:DeferredCostsAndOtherAssets>
	<us-gaap:DeferredCostsLeasingGross contextRef="FI2015Q4" decimals="-3" id="Fact-8E90057E8FC15AC49C3A95E1DB7BFF8F" unitRef="usd">248709000</us-gaap:DeferredCostsLeasingGross>
	<us-gaap:DeferredCostsLeasingGross contextRef="FI2016Q1" decimals="-3" id="Fact-664B3B1DBE475F86B00248E7BCAD4884" unitRef="usd">224302000</us-gaap:DeferredCostsLeasingGross>
	<us-gaap:DeferredFinanceCostsNet contextRef="FI2015Q4" decimals="-3" id="Fact-C92BE5DB09412B94359B5F8516858807" unitRef="usd">16025000</us-gaap:DeferredFinanceCostsNet>
	<us-gaap:DeferredFinanceCostsNet contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-3" id="Fact-3BD6487A6FDBFC8C3F575FA40BDDBFC5" unitRef="usd">6967000</us-gaap:DeferredFinanceCostsNet>
	<us-gaap:DeferredFinanceCostsNet contextRef="FI2016Q1" decimals="-3" id="Fact-4B6272477D13FE76A02B5F84D5A7E04C" unitRef="usd">13182000</us-gaap:DeferredFinanceCostsNet>
	<us-gaap:DeferredFinanceCostsNet contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-3" id="Fact-E2CBFE020A36275414745FA3FF165832" unitRef="usd">6299000</us-gaap:DeferredFinanceCostsNet>
	<us-gaap:DeferredGainOnSaleOfProperty contextRef="FI2015Q4" decimals="-3" id="Fact-717C3D76F84C531D8ADA5226125E695E" unitRef="usd">63756000</us-gaap:DeferredGainOnSaleOfProperty>
	<us-gaap:DeferredGainOnSaleOfProperty contextRef="FI2016Q1" decimals="-3" id="Fact-F8B2970647525297AE0F7D3560920B89" unitRef="usd">61940000</us-gaap:DeferredGainOnSaleOfProperty>
	<us-gaap:DeferredGainOnSaleOfProperty contextRef="I2009Q3_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FreeholdRacewayMallAndChandlerFashionCenterMember" decimals="-3" id="Fact-D34A5A72225252DE81E9319C1288F1F4" unitRef="usd">168154000</us-gaap:DeferredGainOnSaleOfProperty>
	<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="FD2015Q1YTD" decimals="-3" id="Fact-53A7D820781254AFB8268B6A6FF3D99C" unitRef="usd">-935000</us-gaap:DeferredIncomeTaxExpenseBenefit>
	<us-gaap:DeferredIncomeTaxExpenseBenefit contextRef="FD2016Q1YTD" decimals="-3" id="Fact-AEB8D6769EAB5056828A0A7D7DE3112C" unitRef="usd">1317000</us-gaap:DeferredIncomeTaxExpenseBenefit>
	<us-gaap:DeferredRentReceivablesNet contextRef="FI2015Q4" decimals="-3" id="Fact-0D8FDB8C6B13569D80C0D4271C2B9BF8" unitRef="usd">60790000</us-gaap:DeferredRentReceivablesNet>
	<us-gaap:DeferredRentReceivablesNet contextRef="FI2016Q1" decimals="-3" id="Fact-8A210C21009B56BC9634F0117341BE00" unitRef="usd">54079000</us-gaap:DeferredRentReceivablesNet>
	<us-gaap:DeferredTaxAssetsLiabilitiesNet contextRef="FI2015Q4" decimals="-3" id="Fact-05B67AA618D856F19D37ECBE99B208A5" unitRef="usd">38847000</us-gaap:DeferredTaxAssetsLiabilitiesNet>
	<us-gaap:DeferredTaxAssetsLiabilitiesNet contextRef="FI2016Q1" decimals="-3" id="Fact-4BE905B77EC2502882D38E24836230EE" unitRef="usd">37591000</us-gaap:DeferredTaxAssetsLiabilitiesNet>
	<us-gaap:DepreciationAndAmortization contextRef="FD2015Q1YTD" decimals="-3" id="Fact-02B1F2F6D7835D14B62D14F38A2F0E96" unitRef="usd">120618000</us-gaap:DepreciationAndAmortization>
	<us-gaap:DepreciationAndAmortization contextRef="FD2016Q1YTD" decimals="-3" id="Fact-2DBBB9B02B415164B642ABC620232EBF" unitRef="usd">86931000</us-gaap:DepreciationAndAmortization>
	<us-gaap:DepreciationDepletionAndAmortization contextRef="FD2015Q1YTD" decimals="-3" id="Fact-7BE4E1A1F6AA5824A328A5E4A24EF68E" unitRef="usd">122418000</us-gaap:DepreciationDepletionAndAmortization>
	<us-gaap:DepreciationDepletionAndAmortization contextRef="FD2016Q1YTD" decimals="-3" id="Fact-03026F65857C5E069C9711672ADD4E56" unitRef="usd">88176000</us-gaap:DepreciationDepletionAndAmortization>
	<us-gaap:DepreciationNonproduction contextRef="FD2015Q1YTD" decimals="-3" id="Fact-902DC49713285AF59FAE7D6ACA3662FF" unitRef="usd">90197000</us-gaap:DepreciationNonproduction>
	<us-gaap:DepreciationNonproduction contextRef="FD2016Q1YTD" decimals="-3" id="Fact-6F0C458C27AC5C78AB28BCB696B26E85" unitRef="usd">69903000</us-gaap:DepreciationNonproduction>
	<us-gaap:DevelopmentInProcess contextRef="FI2015Q4" decimals="-3" id="Fact-22C1C508AD785471921A5A26B51DFBCF" unitRef="usd">234851000</us-gaap:DevelopmentInProcess>
	<us-gaap:DevelopmentInProcess contextRef="FI2016Q1" decimals="-3" id="Fact-DBC8E1C08EF55F4BBEAA2E7801096A7E" unitRef="usd">264431000</us-gaap:DevelopmentInProcess>
	<us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal contextRef="D2015Q4Nov19_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PanoramaMallMember" decimals="-3" id="Fact-C5CC281D41555C8296B6011F1B7385AC" unitRef="usd">73726000</us-gaap:DisposalGroupNotDiscontinuedOperationGainLossOnDisposal>
	<us-gaap:DividendsCommonStockCash contextRef="FD2016Q1YTD" decimals="-3" id="Fact-E378EE6307F35935BFCEEFBCF0E12B3B" unitRef="usd">104375000</us-gaap:DividendsCommonStockCash>
	<us-gaap:DividendsCommonStockCash contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-56D2E1E5BE365F068928E9FA3568CD96" unitRef="usd">104375000</us-gaap:DividendsCommonStockCash>
	<us-gaap:DividendsCommonStockCash contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" decimals="-3" id="Fact-FFCA1398ED8156ABAF34756AACE4CED5" unitRef="usd">104375000</us-gaap:DividendsCommonStockCash>
	<us-gaap:DividendsPayableCurrentAndNoncurrent contextRef="FI2015Q4" decimals="-3" id="Fact-F64B18275A5F5B7FB8608B12C35FBA72" unitRef="usd">337703000</us-gaap:DividendsPayableCurrentAndNoncurrent>
	<us-gaap:DividendsPayableCurrentAndNoncurrent contextRef="FI2016Q1" decimals="-3" id="Fact-DEE20564A89B5B92AF1EE282900CAE09" unitRef="usd">0</us-gaap:DividendsPayableCurrentAndNoncurrent>
	<us-gaap:DueFromAffiliates contextRef="FI2015Q4" decimals="-3" id="Fact-C1D4A859127F5C7085EA2C0908D8EE6C" unitRef="usd">83928000</us-gaap:DueFromAffiliates>
	<us-gaap:DueFromAffiliates contextRef="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="-3" id="Fact-068AFE83306654ABB99E33833D3F23E8" unitRef="usd">9252000</us-gaap:DueFromAffiliates>
	<us-gaap:DueFromAffiliates contextRef="FI2015Q4_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesMember" decimals="-3" id="Fact-9CF6BFA8646D20A99339644C9E1A5F86" unitRef="usd">7467000</us-gaap:DueFromAffiliates>
	<us-gaap:DueFromAffiliates contextRef="FI2016Q1" decimals="-3" id="Fact-35F4CA662D745B2B81D77106F9BF7241" unitRef="usd">73087000</us-gaap:DueFromAffiliates>
	<us-gaap:DueFromAffiliates contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="-3" id="Fact-D817DC1A88CD5827A8C408A1846F3F52" unitRef="usd">8222000</us-gaap:DueFromAffiliates>
	<us-gaap:DueFromAffiliates contextRef="FI2016Q1_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesMember" decimals="-3" id="Fact-CA82166CBBC65462E82D644CB8AD6F5D" unitRef="usd">-2865000</us-gaap:DueFromAffiliates>
	<us-gaap:EarningsPerShareBasic contextRef="FD2015Q1YTD" decimals="2" id="Fact-CCB647F7C1D55423BF9827AE593103EE" unitRef="usdPerShare">0.15</us-gaap:EarningsPerShareBasic>
	<us-gaap:EarningsPerShareBasic contextRef="FD2016Q1YTD" decimals="2" id="Fact-F3F51EA38BC25DD9A2FC39CE169B6CCE" unitRef="usdPerShare">2.77</us-gaap:EarningsPerShareBasic>
	<us-gaap:EarningsPerShareDiluted contextRef="FD2015Q1YTD" decimals="2" id="Fact-71993324A761562BB3A2FB625F6BACC5" unitRef="usdPerShare">0.15</us-gaap:EarningsPerShareDiluted>
	<us-gaap:EarningsPerShareDiluted contextRef="FD2016Q1YTD" decimals="2" id="Fact-C3ADA2E95950511EA93AAC8B90F5379B" unitRef="usdPerShare">2.76</us-gaap:EarningsPerShareDiluted>
	<us-gaap:EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount contextRef="FD2015Q1YTD" decimals="-3" id="Fact-357B9C4DB1C758B5AA72C3D57A06C0F1" unitRef="usd">4347000</us-gaap:EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount>
	<us-gaap:EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount contextRef="FD2016Q1YTD" decimals="-3" id="Fact-213EA9CDB5DC52CDAA4D6D74E1482188" unitRef="usd">4959000</us-gaap:EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount>
	<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="-3" id="Fact-8AF1D2FB14E85FE9BF09259557957EE9" unitRef="usd">17955000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
	<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="-3" id="Fact-44508AADB59558D7A0CF609D0E89E74E" unitRef="usd">6628000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
	<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="-3" id="Fact-DC064D820F3956F4A60103693A606611" unitRef="usd">23000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
	<us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="-3" id="Fact-463096DAC4745CA99399F467DEE6C50B" unitRef="usd">746000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
	<us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity contextRef="FI2015Q4" decimals="-3" id="Fact-0B1064A59AA3547D8B5A4A227A413491" unitRef="usd">-77701000</us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity>
	<us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity contextRef="FI2016Q1" decimals="-3" id="Fact-4E25057D9E005D1784A8973800D6E88E" unitRef="usd">-611962000</us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity>
	<us-gaap:EquityMethodInvestmentDividendsOrDistributions contextRef="FD2015Q1YTD" decimals="-3" id="Fact-D04F4CA4671C59C38A8FF424BD65B67C" unitRef="usd">0</us-gaap:EquityMethodInvestmentDividendsOrDistributions>
	<us-gaap:EquityMethodInvestmentDividendsOrDistributions contextRef="FD2016Q1YTD" decimals="-3" id="Fact-A7AD3A0E48355695900F462AAB19561E" unitRef="usd">2035000</us-gaap:EquityMethodInvestmentDividendsOrDistributions>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets contextRef="FI2015Q4" decimals="-3" id="Fact-6B456BC6485651DDADC4CDA48568ACE5" unitRef="usd">6842160000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets contextRef="FI2015Q4_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember" decimals="-3" id="Fact-7D4118797C6D0D05B08C5EC35C2A927F" unitRef="usd">3283702000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets contextRef="FI2016Q1" decimals="-3" id="Fact-C57178E19B555FDAB3C9E3E173B70D67" unitRef="usd">9868613000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets contextRef="FI2016Q1_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember" decimals="-3" id="Fact-CE8D3B4D023B56EB8CAC32BED6D5E3DB" unitRef="usd">3258293000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationAssets>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilities contextRef="FI2015Q4_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember" decimals="-3" id="Fact-2533C2EF2675205124AF5ECAA6FEBF8C" unitRef="usd">1938241000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilities>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilities contextRef="FI2016Q1_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_PacificPremierRetailLLCMember" decimals="-3" id="Fact-96788FB122F85D2FA5D568D9646A805B" unitRef="usd">1919760000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilities>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity contextRef="FI2015Q4" decimals="-3" id="Fact-AE80961632BB50B8AEC9D899F8B9587F" unitRef="usd">6842160000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity contextRef="FI2016Q1" decimals="-3" id="Fact-24E409785F2B56E09BF86721959C389E" unitRef="usd">9868613000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2015Q1YTD" decimals="-3" id="Fact-EAB16570042C5D0B9E8704616188F4D4" unitRef="usd">16867000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-A7D6B40BFC5056A89217EFD7DE20CDE6" unitRef="usd">16867000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-2E1CDD39BC205F17ACFF83FC0CAEF1AC" unitRef="usd">0</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2016Q1YTD" decimals="-3" id="Fact-9AE6428FC405599BBAA5A4DF985C9939" unitRef="usd">17419000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-69FFB4A571375A24841A880B909F66AE" unitRef="usd">24347000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-1D5408C46F955240822FFC10E9C54701" unitRef="usd">-6928000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-F4A30442789D58A29320CD830AC16B6F" unitRef="usd">109098000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-F86A8D5FABC85A1C8F6B678D2CCBAADB" unitRef="usd">109098000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-C3C4B4809CED55AF835E27B5483BF42F" unitRef="usd">0</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-F43C4E9A1D085F27AB1AF13F9CDFC03E" unitRef="usd">208077000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-07BE8E6A08035404AE81B20E04F2EE75" unitRef="usd">161921000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-ACB4CDE3159B59999EF5EA27E625B184" unitRef="usd">46156000</us-gaap:EquityMethodInvestmentSummarizedFinancialInformationRevenue>
	<us-gaap:EquityMethodInvestmentUnderlyingEquityInNetAssets contextRef="FI2015Q4" decimals="-3" id="Fact-3E2918D5A7E6518E8D992C6E95FF1207" unitRef="usd">1585796000</us-gaap:EquityMethodInvestmentUnderlyingEquityInNetAssets>
	<us-gaap:EquityMethodInvestmentUnderlyingEquityInNetAssets contextRef="FI2016Q1" decimals="-3" id="Fact-56500865640A521AB245138DCB4FBCF0" unitRef="usd">2435483000</us-gaap:EquityMethodInvestmentUnderlyingEquityInNetAssets>
	<us-gaap:EquityMethodInvestments contextRef="FI2015Q4" decimals="-3" id="Fact-737B73234C0853058B18E872A9F25EF2" unitRef="usd">1532552000</us-gaap:EquityMethodInvestments>
	<us-gaap:EquityMethodInvestments contextRef="FI2016Q1" decimals="-3" id="Fact-2F347161D6DD5FD48721E5C755315B6C" unitRef="usd">1844516000</us-gaap:EquityMethodInvestments>
	<us-gaap:EquityMethodInvestments contextRef="I2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-6C988224A924500989F139C8D9E77ED0" unitRef="usd">4161000</us-gaap:EquityMethodInvestments>
	<us-gaap:FiniteLivedIntangibleAssetAcquiredInPlaceLeases contextRef="FI2015Q4" decimals="-3" id="Fact-D046926F92715732AC605A8EA1A4319E" unitRef="usd">196969000</us-gaap:FiniteLivedIntangibleAssetAcquiredInPlaceLeases>
	<us-gaap:FiniteLivedIntangibleAssetAcquiredInPlaceLeases contextRef="FI2016Q1" decimals="-3" id="Fact-A1CBE4135E9A59A49E23FEA4740560F0" unitRef="usd">159057000</us-gaap:FiniteLivedIntangibleAssetAcquiredInPlaceLeases>
	<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="FI2015Q4" decimals="-3" id="Fact-9DE2889860B85AD1ABF20BB67471BB9C" unitRef="usd">109453000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
	<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-381CF1848475526293C3532A43C84E8F" unitRef="usd">73520000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
	<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="FI2016Q1" decimals="-3" id="Fact-16913389C34457B8971D773BEF48D25D" unitRef="usd">84501000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
	<us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-4F400061FF525BABBDE6118D7478F2DC" unitRef="usd">70277000</us-gaap:FiniteLivedIntangibleAssetsAccumulatedAmortization>
	<us-gaap:FiniteLivedIntangibleAssetsGross contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-6E9F47096038586BA5CA7F1A47246B17" unitRef="usd">220847000</us-gaap:FiniteLivedIntangibleAssetsGross>
	<us-gaap:FiniteLivedIntangibleAssetsGross contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-34EAD1FCD8B25C30B13FC5B960D60FEA" unitRef="usd">210733000</us-gaap:FiniteLivedIntangibleAssetsGross>
	<us-gaap:FiniteLivedIntangibleAssetsNet contextRef="FI2015Q4_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-AF0C1241938F5F73BC769088EE52A6C4" unitRef="usd">147327000</us-gaap:FiniteLivedIntangibleAssetsNet>
	<us-gaap:FiniteLivedIntangibleAssetsNet contextRef="FI2016Q1_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_us-gaap_AboveMarketLeasesMember" decimals="-3" id="Fact-F583FBB3245750C9BC0EADB295EBA8CB" unitRef="usd">140456000</us-gaap:FiniteLivedIntangibleAssetsNet>
	<us-gaap:FixturesAndEquipmentGross contextRef="FI2015Q4" decimals="-3" id="Fact-C41DAB8DC9D75C199B5F8E6B5527B5A8" unitRef="usd">169841000</us-gaap:FixturesAndEquipmentGross>
	<us-gaap:FixturesAndEquipmentGross contextRef="FI2016Q1" decimals="-3" id="Fact-118F0154487C50B3B86352B565B0D39A" unitRef="usd">161891000</us-gaap:FixturesAndEquipmentGross>
	<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="D2015Q2Jun30_us-gaap_DebtInstrumentAxis_mac_GreatNorthernMallMortgageMember_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_GreatNorthernMallMember" decimals="-3" id="Fact-2CC83F49F3885352ACFCDEDCAB7A579D" unitRef="usd">1627000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
	<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="D2016Q1Jan6_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-F40A840ADB2E8270B12A5F8C5BA043F6" unitRef="usd">-3575000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
	<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="FD2015Q1YTD" decimals="-3" id="Fact-B860CEA4612654EBBEB37126D70B99C9" unitRef="usd">2245000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
	<us-gaap:GainsLossesOnExtinguishmentOfDebt contextRef="FD2016Q1YTD" decimals="-3" id="Fact-DD86A2E0EEC55DF39AF272384E2F2B0B" unitRef="usd">8453000</us-gaap:GainsLossesOnExtinguishmentOfDebt>
	<us-gaap:GeneralAndAdministrativeExpense contextRef="FD2015Q1YTD" decimals="-3" id="Fact-4CA43B0818F85442B7D548331B9604A2" unitRef="usd">8422000</us-gaap:GeneralAndAdministrativeExpense>
	<us-gaap:GeneralAndAdministrativeExpense contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0CBB972D2A355C799A9162FF960E82E0" unitRef="usd">8629000</us-gaap:GeneralAndAdministrativeExpense>
	<us-gaap:GuaranteeObligationsMaximumExposure contextRef="FI2015Q4" decimals="-3" id="Fact-24CC491ABC4D36CF52065ECC4DD69161" unitRef="usd">5000000</us-gaap:GuaranteeObligationsMaximumExposure>
	<us-gaap:GuaranteeObligationsMaximumExposure contextRef="FI2016Q1" decimals="-3" id="Fact-7AD9D33E914F501EB7770B850D5989F4" unitRef="usd">5000000</us-gaap:GuaranteeObligationsMaximumExposure>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2015Q1YTD" decimals="-3" id="Fact-C8651DD8079C5925AACE5EDA0FF280A5" unitRef="usd">8274000</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-955BD88DC6955DD283D9F3F2BDBE6CDB" unitRef="usd">8274000</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2015Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-573F081EC51854AF9C126ACCDEA8E013" unitRef="usd">0</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2016Q1YTD" decimals="-3" id="Fact-C8B2AF13F4A65BDCBDB2317B45370C6D" unitRef="usd">11660000</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_OtherJointVenturesMember" decimals="-3" id="Fact-B68EA58D0BDF5CAFA6D4397C3828C975" unitRef="usd">12904000</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeLossFromEquityMethodInvestments contextRef="FD2016Q1YTD_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_mac_PacificPremierRetailLPMember" decimals="-3" id="Fact-29550E7198EE5142934682AC7A154DD0" unitRef="usd">-1244000</us-gaap:IncomeLossFromEquityMethodInvestments>
	<us-gaap:IncomeTaxExpenseBenefit contextRef="FD2015Q1YTD" decimals="-3" id="Fact-E33AC926E375577BAD2429DE9122B37B" unitRef="usd">-935000</us-gaap:IncomeTaxExpenseBenefit>
	<us-gaap:IncomeTaxExpenseBenefit contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8C4598D73EF15378A62E891066100510" unitRef="usd">1317000</us-gaap:IncomeTaxExpenseBenefit>
	<us-gaap:IncreaseDecreaseDueFromAffiliates contextRef="FD2015Q1YTD" decimals="-3" id="Fact-4FF8F27AD01E50209E54FA1E140E5E0D" unitRef="usd">-650000</us-gaap:IncreaseDecreaseDueFromAffiliates>
	<us-gaap:IncreaseDecreaseDueFromAffiliates contextRef="FD2016Q1YTD" decimals="-3" id="Fact-93025C042F6D52DEAF646274B9E390CD" unitRef="usd">-11123000</us-gaap:IncreaseDecreaseDueFromAffiliates>
	<us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-A9D20CA402205EAC86EF8CE691C5DF87" unitRef="usd">18318000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
	<us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-9E7C00E264D150BF9EDD8EB3BEE53122" unitRef="usd">-6166000</us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities>
	<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="FD2015Q1YTD" decimals="-3" id="Fact-A6262971B43F5AC999157250472CD45B" unitRef="usd">-17836000</us-gaap:IncreaseDecreaseInAccountsReceivable>
	<us-gaap:IncreaseDecreaseInAccountsReceivable contextRef="FD2016Q1YTD" decimals="-3" id="Fact-B0FA64297EB052F4AC583FCF898E6BC8" unitRef="usd">-4686000</us-gaap:IncreaseDecreaseInAccountsReceivable>
	<us-gaap:IncreaseDecreaseInDeferredLeasingFees contextRef="FD2015Q1YTD" decimals="-3" id="Fact-9A11602451875D3BB1E7C2190E77344E" unitRef="usd">9768000</us-gaap:IncreaseDecreaseInDeferredLeasingFees>
	<us-gaap:IncreaseDecreaseInDeferredLeasingFees contextRef="FD2016Q1YTD" decimals="-3" id="Fact-393C051BE5935FB19D324009FCC23EDE" unitRef="usd">7359000</us-gaap:IncreaseDecreaseInDeferredLeasingFees>
	<us-gaap:IncreaseDecreaseInOtherAccruedLiabilities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-0F03796093C859B8A2089A7936F376FB" unitRef="usd">450000</us-gaap:IncreaseDecreaseInOtherAccruedLiabilities>
	<us-gaap:IncreaseDecreaseInOtherAccruedLiabilities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-5F5B796CA7855B5EA3F47B4977A58C4D" unitRef="usd">2562000</us-gaap:IncreaseDecreaseInOtherAccruedLiabilities>
	<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="FD2015Q1YTD" decimals="-3" id="Fact-EF5EDF59A70459909F70B5C8F6E9453F" unitRef="usd">-4310000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
	<us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8D4C1B3427C25B909EE4BBDD0EF0184A" unitRef="usd">9743000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
	<us-gaap:IncreaseDecreaseInRestrictedCash contextRef="FD2015Q1YTD" decimals="-3" id="Fact-823C63BCAAA95FFB872DE13B28B6F83E" unitRef="usd">1694000</us-gaap:IncreaseDecreaseInRestrictedCash>
	<us-gaap:IncreaseDecreaseInRestrictedCash contextRef="FD2016Q1YTD" decimals="-3" id="Fact-784F295C8A0859379A55B88BB05D17FB" unitRef="usd">849000</us-gaap:IncreaseDecreaseInRestrictedCash>
	<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="FD2015Q1YTD" decimals="-3" id="Fact-A68C61F204815DEA8656E3D4916C4B20" unitRef="shares">208000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
	<us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements contextRef="FD2016Q1YTD" decimals="-3" id="Fact-DF400CC2F20B5048A0B9A7FF2B6DF37B" unitRef="shares">119000</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
	<us-gaap:InterestCostsCapitalized contextRef="FD2015Q1YTD" decimals="-3" id="Fact-EC4D743AFAFD5AE8BA68BDA2AACEC620" unitRef="usd">2629000</us-gaap:InterestCostsCapitalized>
	<us-gaap:InterestCostsCapitalized contextRef="FD2016Q1YTD" decimals="-3" id="Fact-FA50B4F4EC11545FA24ECD0CB41E35BA" unitRef="usd">2303000</us-gaap:InterestCostsCapitalized>
	<us-gaap:InterestExpense contextRef="FD2015Q1YTD" decimals="-3" id="Fact-367FCB3151F358B9862A0363C90CB835" unitRef="usd">53286000</us-gaap:InterestExpense>
	<us-gaap:InterestExpense contextRef="FD2016Q1YTD" decimals="-3" id="Fact-D22EE38C1BB45322B7C15E78F9B19D5B" unitRef="usd">39776000</us-gaap:InterestExpense>
	<us-gaap:InterestExpenseOther contextRef="FD2015Q1YTD" decimals="-3" id="Fact-C31FA900AC2E5B0AA303326388472AEF" unitRef="usd">50557000</us-gaap:InterestExpenseOther>
	<us-gaap:InterestExpenseOther contextRef="FD2016Q1YTD" decimals="-3" id="Fact-58E251CD65085DFA903D2E86D276D684" unitRef="usd">37504000</us-gaap:InterestExpenseOther>
	<us-gaap:InterestIncomeRelatedParty contextRef="FD2015Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="-3" id="Fact-B87016FE6A025D8FA17C2E58C6F21043" unitRef="usd">137000</us-gaap:InterestIncomeRelatedParty>
	<us-gaap:InterestIncomeRelatedParty contextRef="FD2015Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-11986B7B49907661EEA46451C2C1B2BC" unitRef="usd">433000</us-gaap:InterestIncomeRelatedParty>
	<us-gaap:InterestIncomeRelatedParty contextRef="FD2016Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" decimals="-3" id="Fact-E6597AD5718A5952B86F2C3AA6106CD3" unitRef="usd">117000</us-gaap:InterestIncomeRelatedParty>
	<us-gaap:InterestIncomeRelatedParty contextRef="FD2016Q1YTD_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-5143CE1983605C04951972F13378529A" unitRef="usd">521000</us-gaap:InterestIncomeRelatedParty>
	<us-gaap:InterestPaidNet contextRef="FD2015Q1YTD" decimals="-3" id="Fact-C011FC722378519285F6C1786167D38F" unitRef="usd">60102000</us-gaap:InterestPaidNet>
	<us-gaap:InterestPaidNet contextRef="FD2016Q1YTD" decimals="-3" id="Fact-E57439530A5852B5A3EF41F14499A069" unitRef="usd">32073000</us-gaap:InterestPaidNet>
	<us-gaap:InvestmentBuildingAndBuildingImprovements contextRef="FI2015Q4" decimals="-3" id="Fact-36D1978C2E245DCFAF873A6B88D0E5CB" unitRef="usd">7752892000</us-gaap:InvestmentBuildingAndBuildingImprovements>
	<us-gaap:InvestmentBuildingAndBuildingImprovements contextRef="FI2016Q1" decimals="-3" id="Fact-A0599FD4E71E5678A3DCEDA4E1111BDB" unitRef="usd">6595692000</us-gaap:InvestmentBuildingAndBuildingImprovements>
	<us-gaap:Land contextRef="FI2015Q4" decimals="-3" id="Fact-CD4F2AAB05875D758BB45C83D1507ED2" unitRef="usd">1894717000</us-gaap:Land>
	<us-gaap:Land contextRef="FI2016Q1" decimals="-3" id="Fact-2D295DCF477053298C4F618541819DCB" unitRef="usd">1658466000</us-gaap:Land>
	<us-gaap:LettersOfCreditOutstandingAmount contextRef="FI2016Q1" decimals="-3" id="Fact-004DFFB2352B557FB701BC8FF0B8BD99" unitRef="usd">61002000</us-gaap:LettersOfCreditOutstandingAmount>
	<us-gaap:Liabilities contextRef="FI2015Q4" decimals="-3" id="Fact-1FBC786FDB465EA09FCD5FC346392E9F" unitRef="usd">6164345000</us-gaap:Liabilities>
	<us-gaap:Liabilities contextRef="FI2016Q1" decimals="-3" id="Fact-D438C1C613875237B883F3FB8DE92225" unitRef="usd">5181475000</us-gaap:Liabilities>
	<us-gaap:LiabilitiesAndStockholdersEquity contextRef="FI2015Q4" decimals="-3" id="Fact-94FC24C9BEE85FECBAF808E3F63592C7" unitRef="usd">11235584000</us-gaap:LiabilitiesAndStockholdersEquity>
	<us-gaap:LiabilitiesAndStockholdersEquity contextRef="FI2016Q1" decimals="-3" id="Fact-80B49C3C10D4578FBACC355D766646EF" unitRef="usd">10211345000</us-gaap:LiabilitiesAndStockholdersEquity>
	<us-gaap:LiabilitiesAssumed1 contextRef="FD2015Q1YTD" decimals="-3" id="Fact-7E7DD94DD42F5450943F88EF89A4484C" unitRef="usd">50000000</us-gaap:LiabilitiesAssumed1>
	<us-gaap:LiabilitiesAssumed1 contextRef="FD2016Q1YTD" decimals="-3" id="Fact-744A445E5B825FDD954380504AAD0149" unitRef="usd">0</us-gaap:LiabilitiesAssumed1>
	<us-gaap:LineOfCredit contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-6" id="Fact-F3FE732B2CBE5E0BAC8F0A5854EBBFEC" unitRef="usd">650000000</us-gaap:LineOfCredit>
	<us-gaap:LineOfCredit contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-6" id="Fact-32FA523539225833BD72BD5ADF3799D2" unitRef="usd">745000000</us-gaap:LineOfCredit>
	<us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-3" id="Fact-F740F2C1A90C556A9B850AD7CCD75E11" unitRef="usd">640260000</us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding>
	<us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="-3" id="Fact-ED9CEA405FF25997AEBF8DF15C699BED" unitRef="usd">739417000</us-gaap:LineOfCreditFacilityFairValueOfAmountOutstanding>
	<us-gaap:LineOfCreditFacilityInterestRateDuringPeriod contextRef="FD2015Q4YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="4" id="Fact-74028F0D5E0C5F03BE972DE0300B91C9" unitRef="number">0.0195</us-gaap:LineOfCreditFacilityInterestRateDuringPeriod>
	<us-gaap:LineOfCreditFacilityInterestRateDuringPeriod contextRef="FD2016Q1YTD_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="4" id="Fact-18F12AB723A254A1AC5FF62EFB53B7D6" unitRef="number">0.0211</us-gaap:LineOfCreditFacilityInterestRateDuringPeriod>
	<us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_us-gaap_LineOfCreditMember" decimals="INF" id="Fact-59873D0FE6F65764A68BEF2C11FAA546" unitRef="usd">1500000000</us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity>
	<us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset contextRef="FD2015Q1YTD" decimals="-3" id="Fact-190712D4118158D3B796E2F6CFF06339" unitRef="usd">22103000</us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset>
	<us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset contextRef="FD2016Q1YTD" decimals="-3" id="Fact-EC2C9F25B4F257CEB73C2C01049F9831" unitRef="usd">0</us-gaap:LiquidationBasisOfAccountingRemeasurementGainLossOnAsset>
	<us-gaap:ManagementFeesRevenue contextRef="FD2015Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-3642D4455F5B5D5791DA7E8AFC0D0ABF" unitRef="usd">2211000</us-gaap:ManagementFeesRevenue>
	<us-gaap:ManagementFeesRevenue contextRef="FD2016Q1YTD_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" decimals="-3" id="Fact-54946A078B145103AC6D0319F115ADC0" unitRef="usd">3953000</us-gaap:ManagementFeesRevenue>
	<us-gaap:MinorityInterest contextRef="FI2015Q4" decimals="-3" id="Fact-C6AD2145F658533193318294E33BD3CE" unitRef="usd">355825000</us-gaap:MinorityInterest>
	<us-gaap:MinorityInterest contextRef="FI2016Q1" decimals="-3" id="Fact-67F992AB222158E6A5C943CEFC434D29" unitRef="usd">362859000</us-gaap:MinorityInterest>
	<us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders contextRef="FD2016Q1YTD" decimals="-3" id="Fact-96F1B0D786C1543C94F6EDD0D7A5CC48" unitRef="usd">9720000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
	<us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-B8DFE3F20BB954C69E1F44BBF08FCA4F" unitRef="usd">9720000</us-gaap:MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders>
	<us-gaap:MinorityInterestDecreaseFromRedemptions contextRef="FD2016Q1YTD" decimals="-3" id="Fact-6672FEFFFE8058C383CCF87D65ECF273" unitRef="usd">30000</us-gaap:MinorityInterestDecreaseFromRedemptions>
	<us-gaap:MinorityInterestDecreaseFromRedemptions contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-C10D9F2F5F565B9C8DDD30D546A39F8C" unitRef="usd">23000</us-gaap:MinorityInterestDecreaseFromRedemptions>
	<us-gaap:MinorityInterestDecreaseFromRedemptions contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-6D755361B2C655B68C72B334F1AE7D31" unitRef="usd">7000</us-gaap:MinorityInterestDecreaseFromRedemptions>
	<us-gaap:MinorityInterestDecreaseFromRedemptions contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-C7D3B82B2BDF564BBF32F25B6B056507" unitRef="usd">23000</us-gaap:MinorityInterestDecreaseFromRedemptions>
	<us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners contextRef="FI2015Q4" decimals="2" id="Fact-44DC04AFD2975FE08562F428961E0381" unitRef="number">0.07</us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners>
	<us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners contextRef="FI2016Q1" decimals="2" id="Fact-2358210072C7523390807AAC2FD0A936" unitRef="number">0.07</us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners>
	<us-gaap:MinorityInterestOwnershipPercentageByParent contextRef="FI2015Q4_dei_LegalEntityAxis_mac_TheMacerichPartnershipLPMember" decimals="2" id="Fact-A6882C1FD040542FBC0BFB393AE69068" unitRef="number">0.93</us-gaap:MinorityInterestOwnershipPercentageByParent>
	<us-gaap:MinorityInterestOwnershipPercentageByParent contextRef="FI2016Q1_dei_LegalEntityAxis_mac_TheMacerichPartnershipLPMember" decimals="2" id="Fact-F3A4169A5E5959219F7661AEF09B6020" unitRef="number">0.93</us-gaap:MinorityInterestOwnershipPercentageByParent>
	<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-E13B40E3673155459A07A5F9CFC061CA" unitRef="usd">21144000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
	<us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8CDDE9DC8F245CE1BC51C091CD106930" unitRef="usd">-446261000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
	<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-FCC7CF28E449539DBE6C6A95D0B9BB93" unitRef="usd">-150020000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
	<us-gaap:NetCashProvidedByUsedInInvestingActivities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-3E8EB69B77585CC49999F4580C1D26A0" unitRef="usd">358415000</us-gaap:NetCashProvidedByUsedInInvestingActivities>
	<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-B230BD0C7D3C57A8A3AAA36E1B7DF5C5" unitRef="usd">162130000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
	<us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-F610C11E1492542E869907B8145EA954" unitRef="usd">107841000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
	<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest contextRef="FD2015Q1YTD" decimals="-3" id="Fact-7BC83613C81F5A6FA2BB56155CBE2302" unitRef="usd">2056000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
	<us-gaap:NetIncomeLossAttributableToNoncontrollingInterest contextRef="FD2016Q1YTD" decimals="-3" id="Fact-F0CCB62A0D645BFEA01779A8B4396237" unitRef="usd">30460000</us-gaap:NetIncomeLossAttributableToNoncontrollingInterest>
	<us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="FD2015Q1YTD" decimals="-3" id="Fact-733992AEFFCB5BFAA7BE07B7CA44CDE0" unitRef="usd">24611000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
	<us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0678EDA1C32D5B5182A0F80B4968157D" unitRef="usd">420915000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
	<us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1 contextRef="D2014Q4Oct31_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-F443C973F8E35E95B6FC7DDAC82E44B3" unitRef="usd">14120000</us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1>
	<us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1 contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-60E76EEB88075369B24B85124F3DA727" unitRef="usd">25000000</us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1>
	<us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1 contextRef="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember" decimals="-3" id="Fact-E3B341275EBB5189B09027A3B4D3756E" unitRef="usd">713000000</us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1>
	<us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1 contextRef="D2016Q1Mar1_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember" decimals="-3" id="Fact-16B4817E0C69593EBF34FDEFEF612E48" unitRef="usd">330000000</us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1>
	<us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1 contextRef="D2016Q1Mar28_us-gaap_BusinessAcquisitionAxis_mac_CountryClubPlazaMember" decimals="-3" id="Fact-C3A7692A791C8BD9F4535EB2F23B6D1E" unitRef="usd">320000000</us-gaap:NoncashOrPartNoncashAcquisitionDebtAssumed1>
	<us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-23CDFDBBE5EB52E2BB6666705947684B" unitRef="usd">10591000</us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance>
	<us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-1071FF6CE9BD54C193570ADC3555F949" unitRef="usd">-10591000</us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance>
	<us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-3B8927B4056255538C9D934B2E79DA35" unitRef="usd">10591000</us-gaap:NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance>
	<us-gaap:NotesAssumed1 contextRef="FD2015Q1YTD" decimals="-3" id="Fact-02FE4DFD1CE1535ABF39F29620F670D6" unitRef="usd">0</us-gaap:NotesAssumed1>
	<us-gaap:NotesAssumed1 contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8862AA3E8FAD56C9A6261B4942FC1F5C" unitRef="usd">997695000</us-gaap:NotesAssumed1>
	<us-gaap:NotesPayableFairValueDisclosure contextRef="FI2015Q4" decimals="-3" id="Fact-3A27B51191645975B016CD9CEFCAC019" unitRef="usd">4628781000</us-gaap:NotesPayableFairValueDisclosure>
	<us-gaap:NotesPayableFairValueDisclosure contextRef="FI2016Q1" decimals="-3" id="Fact-F4ADFE4CE5D355D7A3E265CCBF0851D5" unitRef="usd">3951798000</us-gaap:NotesPayableFairValueDisclosure>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4" decimals="-3" id="Fact-DC1042462A7F518F95875E8C28146DE9" unitRef="usd">181069000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-5DB0D2BC428E54198D2AEA693C3DCC6D" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="-3" id="Fact-1A0067CFD3DF5D1F84AB299B0DC1F42E" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="-3" id="Fact-522DB5FF377A50A3845DD0822C3A74EC" unitRef="usd">111078000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-AF194B38E1065545BA3F0C7435C4FCD5" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="-3" id="Fact-6759B172E62B540E98ABF40D38381573" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-C04D91A496655818948DC90ACB3DCA58" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="-3" id="Fact-603C9DF789E354E1941E3B9C415C5CFA" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="-3" id="Fact-56EBCF270FC358F8A9413013F03FEA67" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="-3" id="Fact-7D01D6877FED5B2E9DFE0AF4F8EAEF11" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="-3" id="Fact-A4602A87B27959B7B992142379629B6C" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="-3" id="Fact-36215FD3FB7657A2BE533DDF830A96FB" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="-3" id="Fact-473F42561AE85A2CA56E3D5FDC5B32E5" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="-3" id="Fact-AD021FEED32F5B3194A0E42213DA2CDC" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="-3" id="Fact-0FDD350DC1CD5C02B381148E7980588E" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="-3" id="Fact-3A62E7D40E78537C9E607A602C03FEED" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="-3" id="Fact-1C967134CF2E527485B72D0F57913914" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="-3" id="Fact-5CFE0D3A1E94507ABD5A2628FBEA9BE2" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-7C9CE1DA2E4F5FA4A712ED435117C637" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-1DE032DBCB3856B89411DB4FDC5E9EEB" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="-3" id="Fact-FADDAC2506EF580B9F3247093700FCE2" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="-3" id="Fact-220162F9800E5DE09D7A52939088A999" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="-3" id="Fact-8ED9950C8483516FAA4F19BCC11EBB36" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="-3" id="Fact-BD7F597BEA3158DAB3DBCADE97C56D31" unitRef="usd">69991000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="-3" id="Fact-9E4255E65803505D8F19EF54F00390DA" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2015Q4_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="-3" id="Fact-7BE5DD98A31153008F10737F2472BE9D" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1" decimals="-3" id="Fact-3A4825D31D5757E68630F8A7ADE99BA1" unitRef="usd">179935000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ArrowheadTowneCenterMortgageMember" decimals="-3" id="Fact-28ED97E5566C5F3CBD78531704556CAC" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_ChandlerFashionCenterMortgageMember" decimals="-3" id="Fact-B202B95938E45B8B831F4C31FF35F101" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DanburyFairMallMortgageMember" decimals="-3" id="Fact-91B4A7BFA8065985AE303D87997BA93F" unitRef="usd">110307000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageOneMember" decimals="-3" id="Fact-45C60C2B4B6C5A149A5535214308A3FA" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_DeptfordMallMortgageTwoMember" decimals="-3" id="Fact-6B83B85E008B5BC0891692BD238122D5" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsAtNiagaraMortgageMember" decimals="-3" id="Fact-F508FA6068D3518189826729E5F98AF0" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FashionOutletsOfChicagoMortgageMember" decimals="-3" id="Fact-0D067BA2F3C25E3FB46E38302F3DA184" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlagstaffMallMortgageMember" decimals="-3" id="Fact-1BCB9A848463518FB402CB2E4B386BB7" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FlatIronCrossingMortgageMember" decimals="-3" id="Fact-951934080AB053129F2E65699A06FE88" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_FreeholdRacewayMallMortgageMember" decimals="-3" id="Fact-C72B9F12FA1A54438B33450C94A30618" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_GreenAcresMallMortgageMember" decimals="-3" id="Fact-8B5A14DB782C5EBD9E740CB7633D13A9" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_KingsPlazaMortgageMember" decimals="-3" id="Fact-2C320B808F1151689DE0538199B8317C" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_MallOfVictorValleyMortgageMember" decimals="-3" id="Fact-3DFE0E8E32F459B5962298C40E6BE00D" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_PacificViewMortgageMember" decimals="-3" id="Fact-41B59470BAAB5C4ABE7619B4DAF17B2C" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_QueensCenterMember" decimals="-3" id="Fact-AD7B0E2E6BE55CF6B347B2E29A1AD77F" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SanTanVillageRegionalCenterMortgageMember" decimals="-3" id="Fact-0FF55F5DC45E5ACA92536EAB0FD33285" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SantaMonicaPlaceMortgageMember" decimals="-3" id="Fact-7699089E939D541DA27EE102C4D77206" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_StonewoodCenterMortgageMember" decimals="-3" id="Fact-05D070015D305F6292D1C3BFBEB77A7B" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_SuperstitionSpringsCenterMember" decimals="-3" id="Fact-1912B804E3005FF29149A58BB17C7C55" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheMallAtNorthgateMortgageMember" decimals="-3" id="Fact-59F937B185AE5283B8296AFA803C89EA" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TheOaksOneMortgageMember" decimals="-3" id="Fact-E183AC61B28C5709A9753063CF109F91" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TowneMallMortgageMember" decimals="-3" id="Fact-2451C49052D0532084B2086878453DC9" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_TucsonLaEncantadaMortgageMember" decimals="-3" id="Fact-036DC5ACAB435970B7513E0B3AA1BDEB" unitRef="usd">69628000</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_VintageFaireMallMortgageMember" decimals="-3" id="Fact-24C5BEAFFA3850F7AC0FD57915AB338B" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent contextRef="FI2016Q1_us-gaap_DebtInstrumentAxis_mac_WestsidePavilionMortgageMember" decimals="-3" id="Fact-06F4787B6CD454869D7850E3A4004E24" unitRef="usd">0</us-gaap:NotesPayableRelatedPartiesCurrentAndNoncurrent>
	<us-gaap:NotesReceivableGross contextRef="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member" decimals="-3" id="Fact-AC4B87420DBD50FBA87991143B32BE32" unitRef="usd">6351000</us-gaap:NotesReceivableGross>
	<us-gaap:NotesReceivableGross contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member" decimals="-3" id="Fact-571EC689F4A55CF6A9F73AED636BAB9A" unitRef="usd">6331000</us-gaap:NotesReceivableGross>
	<us-gaap:NotesReceivableGross contextRef="I2014Q1Mar17_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_mac_NoteReceivable1Member" decimals="INF" id="Fact-27006F8CAAE65441A8858BDB4ED380F0" unitRef="usd">6500000</us-gaap:NotesReceivableGross>
	<us-gaap:NotesReceivableRelatedParties contextRef="FI2015Q4_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-B8668F74565159DBA2CBEE399372013B" unitRef="usd">67209000</us-gaap:NotesReceivableRelatedParties>
	<us-gaap:NotesReceivableRelatedParties contextRef="FI2016Q1_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_us-gaap_NotesReceivableMember_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_CandlestickPointMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-ACE46FDAA7C250B186F524DBC6995601" unitRef="usd">67730000</us-gaap:NotesReceivableRelatedParties>
	<us-gaap:NumberOfStores contextRef="I2015Q2Apr30_us-gaap_BusinessAcquisitionAxis_mac_SearsLocationsMember" decimals="INF" id="Fact-B2A6E0B9ACEC5E578E98FC96C39CC24D" unitRef="store">9</us-gaap:NumberOfStores>
	<us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue contextRef="FD2015Q1YTD" decimals="-3" id="Fact-6F045669292B5C88B75B2B023CEB73B6" unitRef="usd">190761000</us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue>
	<us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-9DAAC4A518A9511198F0E495DF9FCDC7" unitRef="usd">151048000</us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue>
	<us-gaap:OperatingLeasesRentExpenseContingentRentals contextRef="FD2015Q1YTD" decimals="-3" id="Fact-E84B15E3B2F4A92D82E57E2E1B393CCA" unitRef="usd">0</us-gaap:OperatingLeasesRentExpenseContingentRentals>
	<us-gaap:OperatingLeasesRentExpenseContingentRentals contextRef="FD2016Q1YTD" decimals="-3" id="Fact-3BE04B7B1F731BFCA4107E2C3C89FBE5" unitRef="usd">0</us-gaap:OperatingLeasesRentExpenseContingentRentals>
	<us-gaap:OperatingLeasesRentExpenseNet contextRef="FD2015Q1YTD" decimals="-3" id="Fact-68BFABA1124352B786BC690720E59692" unitRef="usd">2945000</us-gaap:OperatingLeasesRentExpenseNet>
	<us-gaap:OperatingLeasesRentExpenseNet contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0C802F5F49145E6385F72BBC49F51B60" unitRef="usd">2511000</us-gaap:OperatingLeasesRentExpenseNet>
	<us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent contextRef="FI2015Q4" decimals="-3" id="Fact-41C3DB69D9AD5813878079085DF1EEF2" unitRef="usd">403281000</us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent>
	<us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent contextRef="FI2016Q1" decimals="-3" id="Fact-44466448AC75508F879B43734BD26DB1" unitRef="usd">375023000</us-gaap:OtherAccruedLiabilitiesCurrentAndNoncurrent>
	<us-gaap:OtherAssetsMiscellaneous contextRef="FI2015Q4" decimals="-3" id="Fact-DD8B4EB5772751F5B3E7B5B71CFAB00F" unitRef="usd">70070000</us-gaap:OtherAssetsMiscellaneous>
	<us-gaap:OtherAssetsMiscellaneous contextRef="FI2016Q1" decimals="-3" id="Fact-20AAFF8A5A6F5F0A812E05127CC6E747" unitRef="usd">53363000</us-gaap:OtherAssetsMiscellaneous>
	<us-gaap:OtherIncome contextRef="FD2015Q1YTD" decimals="-3" id="Fact-AFFCB542770F5C34B64113B7CE19A712" unitRef="usd">13003000</us-gaap:OtherIncome>
	<us-gaap:OtherIncome contextRef="FD2016Q1YTD" decimals="-3" id="Fact-ABA029BA3B8559AEB10357EA4928F38C" unitRef="usd">13148000</us-gaap:OtherIncome>
	<us-gaap:OwnedPropertyManagementCosts contextRef="FD2015Q1YTD" decimals="-3" id="Fact-78EB7F7DD4645DDFB40957602EE9A614" unitRef="usd">26468000</us-gaap:OwnedPropertyManagementCosts>
	<us-gaap:OwnedPropertyManagementCosts contextRef="FD2016Q1YTD" decimals="-3" id="Fact-FA61DA85CFF85C7DA2E25AE30C16E54F" unitRef="usd">27900000</us-gaap:OwnedPropertyManagementCosts>
	<us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="FD2015Q1YTD" decimals="-3" id="Fact-07659F3F65B55DA095DEECE1E4B9F450" unitRef="usd">0</us-gaap:PaymentsForRepurchaseOfCommonStock>
	<us-gaap:PaymentsForRepurchaseOfCommonStock contextRef="FD2016Q1YTD" decimals="-3" id="Fact-36F1451763C0574ABB94A0AA642F6CAB" unitRef="usd">400018000</us-gaap:PaymentsForRepurchaseOfCommonStock>
	<us-gaap:PaymentsOfDividendsCommonStock contextRef="FD2015Q1YTD" decimals="-3" id="Fact-13B442B4B6415878A0EB3C0E33AE79E1" unitRef="usd">111462000</us-gaap:PaymentsOfDividendsCommonStock>
	<us-gaap:PaymentsOfDividendsCommonStock contextRef="FD2016Q1YTD" decimals="-3" id="Fact-308BFF59F09053388E5B8545506D5A0D" unitRef="usd">452225000</us-gaap:PaymentsOfDividendsCommonStock>
	<us-gaap:PaymentsOfFinancingCosts contextRef="FD2015Q1YTD" decimals="-3" id="Fact-A7360E57175550D79845304E39C68DFE" unitRef="usd">3476000</us-gaap:PaymentsOfFinancingCosts>
	<us-gaap:PaymentsOfFinancingCosts contextRef="FD2016Q1YTD" decimals="-3" id="Fact-6AC742E4D97E556EA374EAB6CB8920EA" unitRef="usd">1927000</us-gaap:PaymentsOfFinancingCosts>
	<us-gaap:PaymentsOfStockIssuanceCosts contextRef="FD2015Q1YTD" decimals="-3" id="Fact-116C8674C9735D96BA73870DEFB6BE38" unitRef="usd">304000</us-gaap:PaymentsOfStockIssuanceCosts>
	<us-gaap:PaymentsOfStockIssuanceCosts contextRef="FD2016Q1YTD" decimals="-3" id="Fact-4DC0260B576C5F9BB8189ACA9FA0AA70" unitRef="usd">0</us-gaap:PaymentsOfStockIssuanceCosts>
	<us-gaap:PaymentsToAcquireAndDevelopRealEstate contextRef="FD2015Q1YTD" decimals="-3" id="Fact-15C48F8955DA52958205F3384560DFD0" unitRef="usd">90157000</us-gaap:PaymentsToAcquireAndDevelopRealEstate>
	<us-gaap:PaymentsToAcquireAndDevelopRealEstate contextRef="FD2016Q1YTD" decimals="-3" id="Fact-CF9F21430BE25E5ABF03C835F3752621" unitRef="usd">60895000</us-gaap:PaymentsToAcquireAndDevelopRealEstate>
	<us-gaap:PaymentsToAcquireBusinessesGross contextRef="D2014Q4Oct31_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_mac_FashionOutletsOfChicagoMember_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_us-gaap_AffiliatedEntityMember" decimals="-3" id="Fact-EFF23CF74EAB5C9FBA565FB8FE30E771" unitRef="usd">55867000</us-gaap:PaymentsToAcquireBusinessesGross>
	<us-gaap:PaymentsToAcquireBusinessesGross contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-99AEC07B70A45DF8BD775BE7937C392F" unitRef="usd">26250000</us-gaap:PaymentsToAcquireBusinessesGross>
	<us-gaap:PaymentsToAcquireInterestInJointVenture contextRef="FD2015Q1YTD" decimals="-3" id="Fact-8530B7659E0256CAAB4F1FAD14E02EF6" unitRef="usd">33284000</us-gaap:PaymentsToAcquireInterestInJointVenture>
	<us-gaap:PaymentsToAcquireInterestInJointVenture contextRef="FD2016Q1YTD" decimals="-3" id="Fact-161CD2EB5852505CBF5718E08A4CD147" unitRef="usd">350668000</us-gaap:PaymentsToAcquireInterestInJointVenture>
	<us-gaap:PaymentsToAcquireRealEstate contextRef="FD2015Q1YTD" decimals="-3" id="Fact-D4767929EB0056BE9B0190BDDA25D439" unitRef="usd">26250000</us-gaap:PaymentsToAcquireRealEstate>
	<us-gaap:PaymentsToAcquireRealEstate contextRef="FD2016Q1YTD" decimals="-3" id="Fact-ED75A32638CC5A7593C53C10AC5F2F30" unitRef="usd">0</us-gaap:PaymentsToAcquireRealEstate>
	<us-gaap:PaymentsToDevelopRealEstateAssets contextRef="FD2015Q1YTD" decimals="-3" id="Fact-538A2BBB9FF95A51B4836B024F4596DE" unitRef="usd">3855000</us-gaap:PaymentsToDevelopRealEstateAssets>
	<us-gaap:PaymentsToDevelopRealEstateAssets contextRef="FD2016Q1YTD" decimals="-3" id="Fact-DDDDE886BF7F5EF6B4C7391E1FD9817D" unitRef="usd">5311000</us-gaap:PaymentsToDevelopRealEstateAssets>
	<us-gaap:PaymentsToMinorityShareholders contextRef="FD2015Q1YTD" decimals="-3" id="Fact-8E72042852B850F29E5E9F7DB33E1509" unitRef="usd">0</us-gaap:PaymentsToMinorityShareholders>
	<us-gaap:PaymentsToMinorityShareholders contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8E787BED41AF5A2F99922700D03A0B45" unitRef="usd">30000</us-gaap:PaymentsToMinorityShareholders>
	<us-gaap:PercentageRent contextRef="FD2015Q1YTD" decimals="-3" id="Fact-318DE0A363135E51A1A914B7559574F4" unitRef="usd">3248000</us-gaap:PercentageRent>
	<us-gaap:PercentageRent contextRef="FD2016Q1YTD" decimals="-3" id="Fact-D940A097E58C5E3EAC38929BBFB6CBA7" unitRef="usd">3014000</us-gaap:PercentageRent>
	<us-gaap:ProceedsFromCollectionOfNotesReceivable contextRef="FD2015Q1YTD" decimals="-3" id="Fact-F49BA15E609855708CAF8B447F27CE99" unitRef="usd">452000</us-gaap:ProceedsFromCollectionOfNotesReceivable>
	<us-gaap:ProceedsFromCollectionOfNotesReceivable contextRef="FD2016Q1YTD" decimals="-3" id="Fact-FE6E676F30385FF8BDBDC80BBA676511" unitRef="usd">932000</us-gaap:ProceedsFromCollectionOfNotesReceivable>
	<us-gaap:ProceedsFromDivestitureOfBusinesses contextRef="D2015Q4Nov19_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PanoramaMallMember" decimals="-3" id="Fact-AFEC33C5BD51533C92A024EEA794503C" unitRef="usd">98000000</us-gaap:ProceedsFromDivestitureOfBusinesses>
	<us-gaap:ProceedsFromDivestitureOfBusinesses contextRef="D2015Q4Oct30_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_PPRPortfolioMember" decimals="-3" id="Fact-0E4CB5232DAC5289BDFDE76C40A966CB" unitRef="usd">1258643000</us-gaap:ProceedsFromDivestitureOfBusinesses>
	<us-gaap:ProceedsFromDivestitureOfBusinesses contextRef="D2016Q1Jan14_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_MACHeitmanPortfolioMember" decimals="-3" id="Fact-586C475A8DB932E8DE755EA4BACA8403" unitRef="usd">771478000</us-gaap:ProceedsFromDivestitureOfBusinesses>
	<us-gaap:ProceedsFromDivestitureOfBusinesses contextRef="D2016Q1Jan6_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_ArrowheadTowneCenterMember" decimals="-3" id="Fact-AA47814733325B439F353406BE84940A" unitRef="usd">289496000</us-gaap:ProceedsFromDivestitureOfBusinesses>
	<us-gaap:ProceedsFromDivestitureOfBusinesses contextRef="D2016Q2Apr13_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_mac_CapitolaMallMember_us-gaap_SubsequentEventTypeAxis_us-gaap_SubsequentEventMember" decimals="-3" id="Fact-A601B30A0F97B021FBAB6459B546938F" unitRef="usd">93000000</us-gaap:ProceedsFromDivestitureOfBusinesses>
	<us-gaap:ProceedsFromIssuanceOfDebt contextRef="D2013Q1March29_us-gaap_DebtInstrumentAxis_mac_PrasadaNoteMember" decimals="INF" id="Fact-CA34FB43C0375627AD532E95946D78D9" unitRef="usd">13330000</us-gaap:ProceedsFromIssuanceOfDebt>
	<us-gaap:ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet contextRef="FD2015Q1YTD" decimals="-3" id="Fact-ADFFAE3FA69C5164B9F1DEC0DD25A179" unitRef="usd">815671000</us-gaap:ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet>
	<us-gaap:ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet contextRef="FD2016Q1YTD" decimals="-3" id="Fact-BE0C44B063425A8084C1DC0811611993" unitRef="usd">2126138000</us-gaap:ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet>
	<us-gaap:ProfitLoss contextRef="FD2015Q1YTD" decimals="-3" id="Fact-CD983825622550A8B195A77F0F1813C4" unitRef="usd">26667000</us-gaap:ProfitLoss>
	<us-gaap:ProfitLoss contextRef="FD2016Q1YTD" decimals="-3" id="Fact-33EFA026063153C8AE6A132AE0AFDE44" unitRef="usd">451375000</us-gaap:ProfitLoss>
	<us-gaap:ProfitLoss contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-6AEE50D582EB5C8B9073245A15BFC22F" unitRef="usd">30460000</us-gaap:ProfitLoss>
	<us-gaap:ProfitLoss contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-3444660F52485953944318672DBB1021" unitRef="usd">420915000</us-gaap:ProfitLoss>
	<us-gaap:ProfitLoss contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" decimals="-3" id="Fact-C13DF7768485550ABFF6D343F2426D69" unitRef="usd">420915000</us-gaap:ProfitLoss>
	<us-gaap:ProvisionForDoubtfulAccounts contextRef="FD2015Q1YTD" decimals="-3" id="Fact-48A59A12169658F4A434913CE15CE934" unitRef="usd">1330000</us-gaap:ProvisionForDoubtfulAccounts>
	<us-gaap:ProvisionForDoubtfulAccounts contextRef="FD2016Q1YTD" decimals="-3" id="Fact-E899201CD0C95F69895C12F5F7B3E10F" unitRef="usd">919000</us-gaap:ProvisionForDoubtfulAccounts>
	<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="FI2015Q4" decimals="-3" id="Fact-62C7891C6B505902849F6540A0DC1F34" unitRef="usd">1892744000</us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
	<us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation contextRef="FI2016Q1" decimals="-3" id="Fact-F90C9D0CECBD5B18AA4895AB2015AF65" unitRef="usd">1727691000</us-gaap:RealEstateInvestmentPropertyAccumulatedDepreciation>
	<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="FI2015Q4" decimals="-3" id="Fact-7B7D1BD53A1C52CC9C91268D6F3D1566" unitRef="usd">10689656000</us-gaap:RealEstateInvestmentPropertyAtCost>
	<us-gaap:RealEstateInvestmentPropertyAtCost contextRef="FI2016Q1" decimals="-3" id="Fact-EBAD26D91B32549493389D17B397B746" unitRef="usd">9254343000</us-gaap:RealEstateInvestmentPropertyAtCost>
	<us-gaap:RealEstateInvestmentPropertyNet contextRef="FI2015Q4" decimals="-3" id="Fact-D465237F8AF753FB88052A19CC784EEE" unitRef="usd">8796912000</us-gaap:RealEstateInvestmentPropertyNet>
	<us-gaap:RealEstateInvestmentPropertyNet contextRef="FI2016Q1" decimals="-3" id="Fact-80017D80AD79568086F729540774BF53" unitRef="usd">7526652000</us-gaap:RealEstateInvestmentPropertyNet>
	<us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty contextRef="FD2015Q1YTD" decimals="-3" id="Fact-F8AACE5107AF5959A2BC5A2B141E26DE" unitRef="usd">2729000</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
	<us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty contextRef="FD2016Q1YTD" decimals="-3" id="Fact-AA7CA6D422D4590E97487A8A2EE1805B" unitRef="usd">2272000</us-gaap:RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty>
	<us-gaap:RepaymentsOfDebt contextRef="D2015Q1Feb17_us-gaap_BusinessAcquisitionAxis_mac_InlandCenterMember" decimals="-3" id="Fact-F4F4F830CA0B5855BFD282844D4E1ACB" unitRef="usd">50000</us-gaap:RepaymentsOfDebt>
	<us-gaap:RepaymentsOfLongTermDebtAndCapitalSecurities contextRef="FD2015Q1YTD" decimals="-3" id="Fact-1226056D80E65ADA9DE6C720CCD53448" unitRef="usd">674569000</us-gaap:RepaymentsOfLongTermDebtAndCapitalSecurities>
	<us-gaap:RepaymentsOfLongTermDebtAndCapitalSecurities contextRef="FD2016Q1YTD" decimals="-3" id="Fact-91946073BD7E5CC78239D06E6115FD51" unitRef="usd">1713094000</us-gaap:RepaymentsOfLongTermDebtAndCapitalSecurities>
	<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="FI2015Q4" decimals="-3" id="Fact-F36232F836D45478B795041076A8ECCD" unitRef="usd">41389000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
	<us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue contextRef="FI2016Q1" decimals="-3" id="Fact-AFD4763C5E535D2DB9AA409763C4BDF2" unitRef="usd">42233000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
	<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="FI2015Q4" decimals="-3" id="Fact-C47FB44BC09D5D848E3AD9F5027D1615" unitRef="usd">-212760000</us-gaap:RetainedEarningsAccumulatedDeficit>
	<us-gaap:RetainedEarningsAccumulatedDeficit contextRef="FI2016Q1" decimals="-3" id="Fact-45EFD1AAE11A5226AB4B694B708EB925" unitRef="usd">-175775000</us-gaap:RetainedEarningsAccumulatedDeficit>
	<us-gaap:Revenues contextRef="FD2015Q1YTD" decimals="-3" id="Fact-9BA21282E31C5324848F2CD882EE476E" unitRef="usd">318335000</us-gaap:Revenues>
	<us-gaap:Revenues contextRef="FD2016Q1YTD" decimals="-3" id="Fact-8D0A7322F83351E19A0D5235172DD907" unitRef="usd">256000000</us-gaap:Revenues>
	<us-gaap:SecuredDebt contextRef="FI2015Q4" decimals="-3" id="Fact-297DD73045C65996B6E5EFA7426C220E" unitRef="usd">4608587000</us-gaap:SecuredDebt>
	<us-gaap:SecuredDebt contextRef="FI2016Q1" decimals="-3" id="Fact-D7B77A50B91759738181DE6301D92C27" unitRef="usd">3912049000</us-gaap:SecuredDebt>
	<us-gaap:ShareBasedCompensation contextRef="FD2015Q1YTD" decimals="-3" id="Fact-C4FC0C22A6F958F48440F8971BCC8BBD" unitRef="usd">14468000</us-gaap:ShareBasedCompensation>
	<us-gaap:ShareBasedCompensation contextRef="FD2016Q1YTD" decimals="-3" id="Fact-9E6678CF93C65357BF75A3D6652D8A1C" unitRef="usd">16440000</us-gaap:ShareBasedCompensation>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-295B05BA495356E4800202615668EA59" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="INF" id="Fact-7D0AAD419F1B56FD9E24D6A0EA5AE5A8" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-F3F1B22E6CD65E1C812A5040B1983BF7" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="INF" id="Fact-1430D1083E0F517A9BB8DE3624A86AED" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="2" id="Fact-8888CCBD8AE95BE29440D8E5E115085E" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="2" id="Fact-639B014B84955C56A43B65252E2449D9" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="2" id="Fact-6B62935025E952FCB73D4096E5835259" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="2" id="Fact-058E98A8EE4F5C0095E398B3E0E86F7D" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheOneMember" decimals="INF" id="Fact-73B84D6089945864C67A647AC13B2DA8" unitRef="shares">58786</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" decimals="INF" id="Fact-726DC8D24E78E1A46D8D647B3B159160" unitRef="shares">266899</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="D2016Q1Mar4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" decimals="INF" id="Fact-8C4BD565C1DAC32B3311647D28C90739" unitRef="shares">154686</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-8F4EB135E7BA5ADFBE2B3C13B2E04527" unitRef="shares">480371</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="INF" id="Fact-8CEAC4C58E0657E7A26AE7C374158917" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-54076800BFCE545E9AC9B639D98D1209" unitRef="shares">85045</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="INF" id="Fact-28400BDE7EDE58D2B9984A602B64B4C0" unitRef="shares">14534</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="INF" id="Fact-79A8FBCD37095FCC8157D3656A80B9A8" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheOneMember" decimals="2" id="Fact-EBFC64C83360DEE1A12E647AF9F3D849" unitRef="usdPerShare">80.69</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheTwoMember" decimals="2" id="Fact-312DD1E693D2F34A3ED7647B754372DF" unitRef="usdPerShare">53.32</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="D2016Q1Mar4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember_us-gaap_VestingAxis_us-gaap_ShareBasedCompensationAwardTrancheThreeMember" decimals="2" id="Fact-78E97CC608DF40A17F59647D41E0303E" unitRef="usdPerShare">79.20</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="2" id="Fact-F1197BEE96C958D587C9F1787149D913" unitRef="usdPerShare">65.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="2" id="Fact-7EF0CE99904D5314AB9AC0877D573DCF" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="2" id="Fact-17C652058BD557108C315ABA85233AEF" unitRef="usdPerShare">79.24</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="2" id="Fact-FA55D601E2DD59E4B046D5D01379CFAC" unitRef="usdPerShare">80.42</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="2" id="Fact-50C992E58B74527297E09F6DB030506F" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-DCFEE9D9CB44529FA1E0AE14522F5001" unitRef="shares">56315</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="INF" id="Fact-6C53B51464765A1DACE0FF1C62C8AB1E" unitRef="shares">1612</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-72DF61B42895590EB837BCB5B9C4B377" unitRef="shares">132086</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="INF" id="Fact-9FAE2F6CFB6F56A096F094BDA607E6E1" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-442F59CAE1795CCB8540C2655990B983" unitRef="shares">382000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="INF" id="Fact-30F6FAE48EA25CB2897880247DBC90E6" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-B1CC08F28E8A532898D426FFAA1926E9" unitRef="shares">149428</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="INF" id="Fact-27F9AE5DAD4B5310B16E9BB276EAA7CF" unitRef="shares">9297</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="2" id="Fact-9CCEF092F5965655834A3C7FCE286AC4" unitRef="usdPerShare">73.24</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="2" id="Fact-493D15CB4B2856A387F1AD0640900AE3" unitRef="usdPerShare">62.01</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2015Q4_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="2" id="Fact-5F24D562AC595E00894C34EAE31D526E" unitRef="usdPerShare">74.58</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="2" id="Fact-DDA49DA7C22B50E7874BEC1BCB4156B6" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="2" id="Fact-2A849D31956653FEB23CC05ABF2A25F6" unitRef="usdPerShare">55.13</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="2" id="Fact-CE379025A8855E6CA00109A0CD28091C" unitRef="usdPerShare">60.47</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="2" id="Fact-FDBB14000AD454FBAF28C4AD1F419E1F" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2016Q1_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="2" id="Fact-FF56B970F2EC5BA68A56127852588E07" unitRef="usdPerShare">78.55</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="2" id="Fact-9F1A66DDF53A573DAF5E3EBBC826A8BA" unitRef="usdPerShare">80.20</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="2" id="Fact-8F7D8A74FD6F5C74818AFFCFAD55419D" unitRef="usdPerShare">53.88</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="INF" id="Fact-7A42FB3233AF5E7FAA3E121C2EB5C69D" unitRef="shares">154686</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="INF" id="Fact-DA3E6844ED3357D8AB4022326B7F813B" unitRef="shares">1612</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="INF" id="Fact-110DB60A1D53588D8D6FE792B9C1BEB8" unitRef="shares">67703</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="INF" id="Fact-4E571103273E5D57B4BF30A9095AEFF0" unitRef="shares">5237</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="2" id="Fact-B6BFA94720265DD4BA58F28C7BB57FEB" unitRef="usdPerShare">79.20</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockAwardsMember" decimals="2" id="Fact-EDCAAFE93F1A5E429699F1CA9689588B" unitRef="usdPerShare">62.01</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_mac_StockUnitsMember" decimals="2" id="Fact-2359CEA1A5025DBB9E187796043A13C7" unitRef="usdPerShare">71.64</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_PhantomShareUnitsPSUsMember" decimals="2" id="Fact-368E9EBC460D59678FDF42AC15AF7CF8" unitRef="usdPerShare">80.83</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="2" id="Fact-6C0C379B4E6458B786514102973DD69F" unitRef="usdPerShare">52.77</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="4" id="Fact-A78F5E904624CE2A1F54647C353BDB31" unitRef="number">0.2031</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate contextRef="D2016Q1Jan1_us-gaap_AwardTypeAxis_mac_LongTermIncentivePlanMember" decimals="4" id="Fact-BD9B564C60688D4BB039647BF1AB638C" unitRef="number">0.0132</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="INF" id="Fact-39D498031E845DB68ACF2E2EA15B018B" unitRef="shares">25988</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="INF" id="Fact-1582DA32036E5D9595F2A5DDCE7500A8" unitRef="shares">417783</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_StockAppreciationRightsSARSMember" decimals="INF" id="Fact-BB57C938A7545A21BE94F22C5BBD2A85" unitRef="shares">401980</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="INF" id="Fact-EB46ED5B8B1F5929BE9A763E1038F414" unitRef="shares">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="2" id="Fact-CC2009FC463E50D9830600DE461CA915" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="INF" id="Fact-45CBED2D61F85EC8B80D6EF86CF62D8B" unitRef="shares">10314</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="INF" id="Fact-1DBC0D1EFB315513A375B37152DFABAA" unitRef="shares">10565</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="FI2015Q4_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="2" id="Fact-B6FE752837DD50F38CF31A75112D27FC" unitRef="usdPerShare">58.15</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
	<us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice contextRef="FI2016Q1_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="2" id="Fact-5F8F6B6BD37F5A63AEF60E63DEAA7D78" unitRef="usdPerShare">56.77</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
	<us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="2" id="Fact-240813D2A634503B9986AA2CAB96B6D5" unitRef="usdPerShare">0.00</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
	<us-gaap:StockIssuedDuringPeriodSharesConversionOfUnits contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="INF" id="Fact-636D730DA6E253E98F1C989BC5570A18" unitRef="shares">157527</us-gaap:StockIssuedDuringPeriodSharesConversionOfUnits>
	<us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="INF" id="Fact-040DC221F9325412839928D8469E32BB" unitRef="shares">86204</us-gaap:StockIssuedDuringPeriodSharesShareBasedCompensation>
	<us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised contextRef="FD2016Q1YTD_us-gaap_AwardTypeAxis_us-gaap_EmployeeStockOptionMember" decimals="INF" id="Fact-0A4B4A9A363754329C51836242D3F2A1" unitRef="shares">0</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
	<us-gaap:StockIssuedDuringPeriodValueConversionOfUnits contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-FFCAAC4476D15C8388CDDB7F7B3C9938" unitRef="usd">3106000</us-gaap:StockIssuedDuringPeriodValueConversionOfUnits>
	<us-gaap:StockIssuedDuringPeriodValueConversionOfUnits contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="-3" id="Fact-30930A2B8118527D94F66DB852404044" unitRef="usd">2000</us-gaap:StockIssuedDuringPeriodValueConversionOfUnits>
	<us-gaap:StockIssuedDuringPeriodValueConversionOfUnits contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-C38804AB72F85F10B350A7EF57A097FB" unitRef="usd">-3108000</us-gaap:StockIssuedDuringPeriodValueConversionOfUnits>
	<us-gaap:StockIssuedDuringPeriodValueConversionOfUnits contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-1AE8D7409C6A51C5BE7582E77D145174" unitRef="usd">3108000</us-gaap:StockIssuedDuringPeriodValueConversionOfUnits>
	<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="FD2016Q1YTD" decimals="-3" id="Fact-FE8AEF4FC72E514091733972D466B2AB" unitRef="usd">21399000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
	<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-576CD9B7E6CB5957A509845CE1A54E03" unitRef="usd">21398000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
	<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="-3" id="Fact-57023628DF7751139E899946845599A1" unitRef="usd">1000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
	<us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-51ADAB6F10E551BAA8507B218B3E236B" unitRef="usd">21399000</us-gaap:StockIssuedDuringPeriodValueShareBasedCompensation>
	<us-gaap:StockRepurchaseProgramAuthorizedAmount1 contextRef="FI2015Q3" decimals="INF" id="Fact-BD95F7DC7717560F846AF008071E889F" unitRef="usd">1200000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
	<us-gaap:StockRepurchaseProgramAuthorizedAmount1 contextRef="I2015Q4Nov13" decimals="INF" id="Fact-29FD2B87BF6E5E31AC9A69F5DC128AB1" unitRef="usd">400000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
	<us-gaap:StockRepurchaseProgramAuthorizedAmount1 contextRef="I2016Q1Feb17" decimals="-3" id="Fact-7A1727BA909C56F38A7170FE79F669E2" unitRef="usd">400000000</us-gaap:StockRepurchaseProgramAuthorizedAmount1>
	<us-gaap:StockRepurchasedDuringPeriodShares contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="INF" id="Fact-4276B8EF990959D2BFAE8F766380657E" unitRef="shares">5192802</us-gaap:StockRepurchasedDuringPeriodShares>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD" decimals="-3" id="Fact-C0F7B1FCE82711CFC1A95DF14C71E7DC" unitRef="usd">400018000</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-0BEBD8DDA7C755D78AA1423CB74CB6E2" unitRef="usd">120411000</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="-3" id="Fact-DDC3C0DF896C5EC69D4DE49FBAD79DBB" unitRef="usd">52000</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-5A0EE63ED8205004835B1D37A10F9DE9" unitRef="usd">0</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-357934D15883522C4E4C5DF14C78C2E1" unitRef="usd">400018000</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockRepurchasedDuringPeriodValue contextRef="FD2016Q1YTD_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" decimals="-3" id="Fact-A293605C5ADF508385FDF385FF2E8BE5" unitRef="usd">279555000</us-gaap:StockRepurchasedDuringPeriodValue>
	<us-gaap:StockholdersEquity contextRef="FI2015Q4" decimals="-3" id="Fact-500432F9862E512BA2C82D2BAAD46437" unitRef="usd">4715414000</us-gaap:StockholdersEquity>
	<us-gaap:StockholdersEquity contextRef="FI2016Q1" decimals="-3" id="Fact-F3869A787A5E517EA48FBEE5FBD8B609" unitRef="usd">4667011000</us-gaap:StockholdersEquity>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4" decimals="-3" id="Fact-7CE57D32A5585F2487A18F8E81CB7747" unitRef="usd">5071239000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-83931AC4A9925A1D95D5C4E65D05C6A5" unitRef="usd">4926630000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="-3" id="Fact-DB1B38EAB3B356C9B9C171099AC84826" unitRef="usd">1544000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-19593BC32D3554F38EB3DBD17521A33E" unitRef="usd">355825000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-79E0483F2DA65AEE9D57C21AC2A62646" unitRef="usd">4715414000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2015Q4_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" decimals="-3" id="Fact-7D6C0B1786E15254A915F9B9858AF830" unitRef="usd">-212760000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1" decimals="-3" id="Fact-34F222FC5E415C8F95E29DD5400DBCD7" unitRef="usd">5029870000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_AdditionalPaidInCapitalMember" decimals="-3" id="Fact-DEED86447B345A7CBB1ADABFA67B18B4" unitRef="usd">4841291000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_CommonStockMember" decimals="-3" id="Fact-63C0607E4AF95C0B92BFF7CB5C1A48C0" unitRef="usd">1495000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_NoncontrollingInterestMember" decimals="-3" id="Fact-CF7C27426C105511B6373BCB8873D425" unitRef="usd">362859000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_ParentMember" decimals="-3" id="Fact-03FD20B4C0B3507881528359E728E59F" unitRef="usd">4667011000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest contextRef="FI2016Q1_us-gaap_StatementEquityComponentsAxis_us-gaap_RetainedEarningsMember" decimals="-3" id="Fact-30C216ED6B9050D3ACEA293CC1CEEC95" unitRef="usd">-175775000</us-gaap:StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest>
	<us-gaap:StraightLineRentAdjustments contextRef="FD2015Q1YTD" decimals="-3" id="Fact-97AFE78B0DB152C4AADF1AC5EB199D76" unitRef="usd">-386000</us-gaap:StraightLineRentAdjustments>
	<us-gaap:StraightLineRentAdjustments contextRef="FD2016Q1YTD" decimals="-3" id="Fact-0EB786D5277C550CADBCADFEE00D781F" unitRef="usd">-910000</us-gaap:StraightLineRentAdjustments>
	<us-gaap:TenantImprovements contextRef="FI2015Q4" decimals="-3" id="Fact-6D673E6A34C759578513F61F82E6FEE3" unitRef="usd">637355000</us-gaap:TenantImprovements>
	<us-gaap:TenantImprovements contextRef="FI2016Q1" decimals="-3" id="Fact-9AEAAA997A55554BBA60AACD8C2EB89A" unitRef="usd">573863000</us-gaap:TenantImprovements>
	<us-gaap:TenantReimbursements contextRef="FD2015Q1YTD" decimals="-3" id="Fact-4A76B9691F4954188E8C447B025A3A57" unitRef="usd">105698000</us-gaap:TenantReimbursements>
	<us-gaap:TenantReimbursements contextRef="FD2016Q1YTD" decimals="-3" id="Fact-554952F3652652C1AD6E39F82E63CB85" unitRef="usd">80173000</us-gaap:TenantReimbursements>
	<us-gaap:UnsolicitedTenderOfferCosts contextRef="FD2015Q1YTD" decimals="-3" id="Fact-910869D8440751F3975558FE3320275B" unitRef="usd">13572000</us-gaap:UnsolicitedTenderOfferCosts>
	<us-gaap:UnsolicitedTenderOfferCosts contextRef="FD2016Q1YTD" decimals="-3" id="Fact-DAFD4EEA0AA958B68672D5CCD32CAC6D" unitRef="usd">0</us-gaap:UnsolicitedTenderOfferCosts>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2015Q4_us-gaap_BalanceSheetLocationAxis_mac_RealEstateInvestmentPropertyNetMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-9AA8BFC57467E672F2C577B884892855" unitRef="usd">362129000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherAssetsMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-F89C1E2806799FEA702F77BAEC8336F8" unitRef="usd">74075000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2015Q4_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-A9932E78EC1FFFBFF7DE77B683625024" unitRef="usd">436204000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2016Q1_us-gaap_BalanceSheetLocationAxis_mac_RealEstateInvestmentPropertyNetMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-103194FBF55F79A127CD77B881BFDBBE" unitRef="usd">360666000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherAssetsMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-5A100A74EA56651ED75877BAEC8AF6EB" unitRef="usd">76202000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets contextRef="FI2016Q1_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-6AB4DADEBD23FCCE588C77B6B293869F" unitRef="usd">436868000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountAssets>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherLiabilitiesMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-C677575C3E9268E1A51C77BBAA5F70DA" unitRef="usd">79984000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2015Q4_us-gaap_BalanceSheetLocationAxis_us-gaap_SecuredDebtMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-52FD8AADB8F7EECF08C877B96DBE0A6E" unitRef="usd">139767000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2015Q4_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-70E05D5BC846EE15052C77B63FFF7A5D" unitRef="usd">219751000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_OtherLiabilitiesMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-86B001C769966562D66477BBAA66CEE3" unitRef="usd">81932000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2016Q1_us-gaap_BalanceSheetLocationAxis_us-gaap_SecuredDebtMember_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-6796705A1B4F471A6F9577B95D526A32" unitRef="usd">138130000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities contextRef="FI2016Q1_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" decimals="-3" id="Fact-33C3C40037CA366E205677B60139EE0A" unitRef="usd">220062000</us-gaap:VariableInterestEntityConsolidatedCarryingAmountLiabilities>
	<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="FD2015Q1YTD" decimals="-3" id="Fact-994E2050036857879B6A233A3317C45B" unitRef="shares">158544000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
	<us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="FD2016Q1YTD" decimals="-3" id="Fact-BAAF6EF0E4A258839A7B68900F655F69" unitRef="shares">152103000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
	<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="FD2015Q1YTD" decimals="-3" id="Fact-2F92349A672C560BBECA10176A696A1A" unitRef="shares">158336000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
	<us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="FD2016Q1YTD" decimals="-3" id="Fact-7C4D862DD92650039852084819847204" unitRef="shares">151984000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
	<mac:CoVentureArrangementDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-5FFA2A60780A5A839F4EED6ADC8CF38D">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Co-Venture Arrangement:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;September&amp;#160;30, 2009&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company formed a joint venture, whereby a third party acquired a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;49.9%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; interest in Freehold Raceway Mall, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,670,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Freehold&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;New Jersey&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, and Chandler Fashion Center, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,319,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Chandler&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arizona&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;As a result of the Company having certain rights under the agreement to repurchase the assets after the seventh year of the venture formation, the transaction did not qualify for sale treatment. The Company, however, is not obligated to repurchase the assets. The transaction has been accounted for as a profit-sharing arrangement, and accordingly the assets, liabilities and operations of the properties remain on the books of the Company and a co-venture obligation was established for the amount of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$168,154&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, representing the net cash proceeds received from the third party. The co-venture obligation is increased for the allocation of income to the co-venture partner and decreased for distributions to the co-venture partner. The co-venture obligation was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$61,940&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$63,756&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</mac:CoVentureArrangementDisclosureTextBlock>
	<mac:ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock contextRef="FD2016Q1YTD" id="Fact-56371F5F31875A1599977A3B3B7726AC">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt; Bank and Other Notes Payable:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Bank and other notes payable consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Line of Credit:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company has a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$1,500,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; revolving line of credit that bears interest at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;LIBOR&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; plus a spread of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;1.38%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; to &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2.0%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, depending on the Company's overall leverage level, and matures on August 6, 2018. Based on the Company's leverage level as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the borrowing rate on the facility was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;LIBOR&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;1.50%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, borrowings under the line of credit, were &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$745,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$650,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, less unamortized deferred finance costs of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$6,299&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$6,967&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, at an average interest rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2.11%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;1.95%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. The estimated fair value (Level&amp;#160;2 measurement) of the line of credit at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$739,417&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$640,260&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Prasada Note:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On March 29, 2013, the Company issued a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$13,330&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; note payable that bears interest at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;5.25%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and was to mature on March 29, 2016. The maturity date of the note has been extended to May 30, 2016. The note payable is collateralized by a portion of a development reimbursement agreement with the City of Surprise, Arizona. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the note had a balance of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$8,218&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$9,130&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. The estimated fair value (Level&amp;#160;2 measurement) of the note at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$8,244&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$9,168&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, based on current interest rates for comparable notes. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the collateral for the underlying debt.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company was in compliance with all applicable financial loan covenants.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</mac:ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock>
	<mac:EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock contextRef="FD2016Q1YTD" id="Fact-C1FC2EA8D0A5512FB24333943DEADFBE">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:504px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets(1):&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Properties, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,246,945&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,334,442&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;621,668&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;507,718&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,868,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,842,160&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities and partners' capital(1):&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage and other notes payable(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,926,654&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,607,588&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;442,846&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;355,634&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,435,483&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,585,796&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Outside partners' capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,063,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,293,142&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities and partners' capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,868,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,842,160&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Investments in unconsolidated joint ventures:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,435,483&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,585,796&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Basis adjustment(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(611,962&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(77,701&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,823,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,508,095&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets&amp;#8212;Investments in unconsolidated joint ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,844,516&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,532,552&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities&amp;#8212;Distributions in excess of investments in unconsolidated joint ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(20,995&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(24,457&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,823,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,508,095&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;These amounts include the assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$3,258,293&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$3,283,702&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, and liabilities of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,919,760&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,938,241&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a total of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$5,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; could become recourse debt to the Company. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company had an indemnity agreement from a joint venture partner for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,500&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the guaranteed amount.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$458,843&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$460,872&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates&amp;#8212;Broadway Plaza. Interest expense on these borrowings was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$6,366&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$8,508&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$4,457&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$420&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</mac:EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock>
	<mac:EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock contextRef="FD2016Q1YTD" id="Fact-FE7FFD4EC9C85B81B0A4FE66C7AFE27D">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:593px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:320px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Pacific&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Premier&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Retail&amp;#160;LLC (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Joint&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Total&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;"&gt;Three Months Ended March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Revenues:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Minimum rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;30,583&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;106,373&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;136,956&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Percentage rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;759&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,753&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,512&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant recoveries&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;11,976&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;43,443&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;55,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,838&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;10,352&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;13,190&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total revenues&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;46,156&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;161,921&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;208,077&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Expenses:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Shopping center and operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,786&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;63,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Interest expense&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;15,214&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;27,738&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,952&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;28,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;56,533&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;84,617&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;137,569&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;190,653&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Loss on sale or write down of assets, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net (loss) income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(6,928&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;17,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's equity in net (loss) income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,244&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;12,904&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;11,660&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;"&gt;Three Months Ended March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Revenues:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Minimum rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;67,522&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;67,522&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Percentage rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,623&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,623&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant recoveries&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;32,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;32,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,590&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,590&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total revenues&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;109,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;109,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Expenses:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Shopping center and operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,178&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,178&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Interest expense&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20,383&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20,383&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;29,670&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;29,670&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;92,231&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;92,231&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;16,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;16,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's equity in net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;_______________________________________________________________________________&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:42px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;These amounts exclude the results of operations from January 1, 2015 to March 31, 2015, as &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was wholly-owned during that period. On October 30, 2015, as a result of the PPR Portfolio transaction discussed above, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was converted from wholly-owned to an unconsolidated joint venture.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</mac:EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock>
	<mac:ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock contextRef="FD2016Q1YTD" id="Fact-116C0FE0D38B5659B0B52A09DD3046F4">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of existing ownership interest (at 50% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;26,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Carrying value of investment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(4,161&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Gain on remeasurement of assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;22,089&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</mac:ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock>
	<mac:ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock contextRef="FD2016Q1YTD" id="Fact-695437B062E05371AA1D498E861F8B7A">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Debt premiums (discounts) consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:298px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Property Pledged as Collateral&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,494&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(3&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Niagara Falls USA&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,254&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,486&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Stonewood Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;5,168&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Superstition Springs Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;184&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;263&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;18,408&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</mac:ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock>
	<mac:ScheduleOfMortgageNotesPayableTableTextBlock contextRef="FD2016Q1YTD" id="Fact-6EB5595FD2B254BC97BF9157285BB1D1">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage notes payable at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:614px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="27" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:189px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:52px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Carrying Amount of Mortgage Notes(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Property Pledged as Collateral&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Related Party&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Related Party&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Effective Interest&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Rate(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Monthly&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Debt&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Service(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Maturity&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Date(4)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Arrowhead Towne Center(5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;221,194&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Chandler Fashion Center(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;199,784&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;199,766&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;625&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Danbury Fair Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;110,307&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;110,307&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;111,078&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;111,079&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;5.53&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,538&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;193,337&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall(8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;13,999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Chicago&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;198,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;198,653&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.10&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;323&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Niagara Falls USA&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117,903&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117,708&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.89&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;727&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Flagstaff Mall(9)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;37,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;37,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8.97&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;153&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;FlatIron Crossing(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;254,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Freehold Raceway Mall(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;223,805&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;224,836&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,132&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Green Acres Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;302,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;303,960&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.61&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,447&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2021&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Kings Plaza Shopping Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;463,952&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;466,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.67&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2,229&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Northgate Mall(10)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;63,777&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;63,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.32&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;143&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Oaks, The&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;204,492&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;205,555&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.14&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,064&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Pacific View&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;129,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;130,108&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.08&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;668&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Queens Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;600,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;600,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.49&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,744&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2025&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Santa Monica Place&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;223,509&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;224,815&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.99&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;SanTan Village Regional Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;129,911&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;130,638&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.14&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;589&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Stonewood Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;104,023&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;105,494&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1.80&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;640&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Superstition Springs Center(11)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;67,674&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;67,749&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;154&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Towne Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;21,860&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;21,956&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Tucson La Encantada&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;69,628&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;69,991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.23&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;368&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Victor Valley, Mall of&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;114,515&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;114,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.00&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;380&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2024&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Vintage Faire Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;273,125&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;274,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,255&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2026&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Westside Pavilion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;145,942&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;146,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.49&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;179,935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3,732,114&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;181,069&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,427,518&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;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:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:298px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Property Pledged as Collateral&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,494&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(3&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Niagara Falls USA&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,254&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,486&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Stonewood Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;5,168&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Superstition Springs Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;184&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;263&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;18,408&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:60px;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The mortgage notes payable balances also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.  Unamortized deferred finance costs were &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$13,182&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$16,025&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The monthly debt service represents the payment of principal and interest.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(4)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;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.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;January&amp;#160;6, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the Company replaced the existing loan on the property with a new &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; loan that bears interest at an effective rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.05%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;February&amp;#160;1, 2028&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, which resulted in a loss of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$3,575&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; on the early extinguishment of debt. Concurrently, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan was assumed by a third party in connection with the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; ownership interest in the underlying property (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;A &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49.9%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:8pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;Co-Venture Arrangement&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;January&amp;#160;14, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan was assumed by a third party in connection with the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; ownership interest in the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;MAC Heitman Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;1, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the Company paid off in full the loan on the property. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(9)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;November&amp;#160;1, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, this non-recourse loan went into maturity default. The Company is negotiating with the loan servicer, which will likely result in a transition of the property to the loan servicer or a receiver.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(10)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The loan bears interest at LIBOR plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.25%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;1, 2017&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the total interest rate was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.32%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.30%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(11)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The loan bears interest at LIBOR plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.30%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;October&amp;#160;28, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the total interest rate was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.26%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.17%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</mac:ScheduleOfMortgageNotesPayableTableTextBlock>
	<mac:ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock contextRef="FD2016Q1YTD" id="Fact-9861B8E09FC35513B78693B22DDDCC3A">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following is the reconciliation of the purchase price to the fair value of the acquired net assets:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Purchase price&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;51,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less debt assumed&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(25,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Carrying value of investment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,161&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Gain on remeasurement of assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;22,089&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of acquired net assets (at 100% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</mac:ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock>
	<mac:ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock contextRef="FD2016Q1YTD" id="Fact-98EF59240B8E5148B4919D77F1C77855">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following are fees charged to unconsolidated joint ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:356px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:233px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Management fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,953&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,211&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Development and leasing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,961&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,914&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,103&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</mac:ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock>
	<mac:ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock contextRef="FD2016Q1YTD" id="Fact-FF0F4E2192A25AA4B47CAAAEC8013A1D">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="28" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:165px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;LTIP Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Awards&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Phantom Stock Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56,315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;73.24&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,612&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;62.01&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;132,086&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;74.58&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;480,371&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;65.00&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;14,534&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.42&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;85,045&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;79.24&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(154,686&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;79.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(1,612&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;62.01&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(5,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.83&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(67,703&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;71.64&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Forfeited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;382,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;60.47&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;9,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;149,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;78.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;Value represents the weighted average grant date fair value.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</mac:ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock>
	<us-gaap:BasisOfAccountingPolicyPolicyTextBlock contextRef="FD2016Q1YTD" id="Fact-B0EE3F5E78DF5AFBA4C54440118FDC9C">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Basis of Presentation:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form&amp;#160;10-Q and Article&amp;#160;10 of Regulation&amp;#160;S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On January 1, 2016, the Company adopted Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) 2015-02,&amp;#160;&amp;#8220;Consolidation (Topic 810): Amendments to the Consolidation Analysis,&amp;#8221; which made certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity ("VIE") characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. The Company evaluated the new standard and determined that no change was required to its accounting for variable interest entities.  However, under the guidance of the new standard, all of the Company's consolidated joint ventures, including the Operating Partnership, now meet the definition and criteria as VIEs and the Company is the primary beneficiary of each VIE.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership.  In addition the Operating Partnership has investments in a number of VIEs.  &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The VIEs included the following assets and liabilities:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:480px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:69px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:70px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Properties, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;360,666&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;362,129&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;76,202&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;74,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,868&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,204&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage notes payable&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;138,130&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;139,767&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;81,932&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;79,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,062&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;219,751&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form&amp;#160;10-K for the year ended &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; has been derived from the audited financial statements but does not include all disclosures required by GAAP.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
	<us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="FD2016Q1YTD" id="Fact-7C15995F0CA55A5C83691049EB1E8DFA">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Summary of Significant Accounting Policies:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Basis of Presentation:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form&amp;#160;10-Q and Article&amp;#160;10 of Regulation&amp;#160;S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On January 1, 2016, the Company adopted Accounting Standards Update (&amp;#8220;ASU&amp;#8221;) 2015-02,&amp;#160;&amp;#8220;Consolidation (Topic 810): Amendments to the Consolidation Analysis,&amp;#8221; which made certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity ("VIE") characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. The Company evaluated the new standard and determined that no change was required to its accounting for variable interest entities.  However, under the guidance of the new standard, all of the Company's consolidated joint ventures, including the Operating Partnership, now meet the definition and criteria as VIEs and the Company is the primary beneficiary of each VIE.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership.  In addition the Operating Partnership has investments in a number of VIEs.  &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The VIEs included the following assets and liabilities:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:480px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:69px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:70px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Properties, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;360,666&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;362,129&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;76,202&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;74,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,868&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,204&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage notes payable&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;138,130&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;139,767&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;81,932&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;79,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,062&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;219,751&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;All intercompany accounts and transactions have been eliminated in the consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form&amp;#160;10-K for the year ended &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; has been derived from the audited financial statements but does not include all disclosures required by GAAP.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Recent Accounting Pronouncements:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In May 2014, the Financial Accounting Standards Board (&amp;#8220;FASB&amp;#8221;) issued ASU 2014-09,&amp;#160;&amp;#8220;Revenue From Contracts With Customers,&amp;#8221;&amp;#160;which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 states that &amp;#8220;an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&amp;#8221; While ASU 2014-09 specifically references contracts with customers, it may apply to certain other transactions such as the sale of real estate or equipment. In July 2015, the FASB voted to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning January 1, 2018, with early adoption permitted beginning January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;In April 2015, the FASB issued ASU 2015-03,&amp;#160;&amp;#8220;Simplifying the Presentation of Debt Issuance Costs,&amp;#8221; which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The Company's adoption of ASU 2015-03 on January 1, 2016 resulted in an adjustment of its consolidated balance sheet at December 31, 2015 to reflect the new presentation required by the standard. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which requires adjustments to provisional amounts used in business combinations during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. It also requires the disclosure of the impact on changes in estimates on earnings, depreciation, amortization and other income effects. The Company's adoption of this standard on January 1, 2016 did not have an impact on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not initial direct leasing costs. ASU 2016-02 is effective for the Company beginning January 1, 2019. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718)," which amends the accounting for share-based payments, including the income tax consequences, classification of awards and classification on the statement of cash flows. ASU 2016-09 is effective for the Company beginning January 1, 2017. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
	<us-gaap:BusinessCombinationDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-B52D353E841E5CEB8D574DF6F24A1834">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:24px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Acquisitions:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Fashion Outlets of Chicago&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;October&amp;#160;31, 2014&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company purchased &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;AWE/Talisman&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;'s ownership interest in its consolidated joint venture in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fashion Outlets of Chicago&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$69,987&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The purchase price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$55,867&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the settlement of the balance on notes receivables of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$14,120&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The cash payment was funded by borrowings under the Company's line of credit. The purchase agreement includes contingent consideration based on the financial performance of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fashion Outlets of Chicago&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at an agreed upon date in 2016. The Company estimated the fair value of the contingent consideration as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; to be &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$23,459&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, which has been included in other accrued liabilities. As a result of this acquisition, the noncontrolling interest of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$76,141&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was reversed.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;February&amp;#160;17, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company acquired the remaining &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;50%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; that it did not previously own for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$51,250&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The purchase price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$26,250&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the assumption of the third party's share of the mortgage note payable on the property of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$25,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;). As a result of this transaction, the Company obtained &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;100%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The acquisition was completed in order to obtain &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;100%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership and control over this asset.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following is a summary of the allocation of the fair value of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Property&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;91,871&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred charges&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,752&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;5,782&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets acquired&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;107,405&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage note payable&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;50,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other accrued liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities assumed&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;54,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of acquired net assets (at 100% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company determined that the purchase price represented the fair value of the additional ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; that was acquired. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of existing ownership interest (at 50% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;26,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Carrying value of investment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(4,161&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Gain on remeasurement of assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;22,089&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following is the reconciliation of the purchase price to the fair value of the acquired net assets:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Purchase price&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;51,250&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less debt assumed&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(25,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Carrying value of investment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,161&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Gain on remeasurement of assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;22,089&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of acquired net assets (at 100% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Since the date of acquisition, the Company has included &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:BusinessCombinationDisclosureTextBlock>
	<us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-EDF5DF7AC51651A182311FFDE8122E7F">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Commitments and Contingencies:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company has certain properties that are subject to non-cancelable operating ground leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. Ground lease rent expense was  &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,511&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,945&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;No&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; contingent rent was incurred during the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; or &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company was contingently liable for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$61,002&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreements. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company had &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$62,832&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in outstanding obligations which it believes will be settled in the next twelve months.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
	<us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="FD2016Q1YTD" id="Fact-A7CFE763D46A52528E692CB31A86CD28">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Share and Unit-Based Plans:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;one&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;-unit for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;one&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;-share basis. LTIP Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include both market-indexed awards and service-based awards.  The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to the stockholders (the "Total Return") per common stock share relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;January&amp;#160;1, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company granted &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;58,786&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; LTIP Units with a grant date fair value of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$80.69&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per LTIP Unit that will vest in equal annual installments over a service period ending &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2018&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. Concurrently, the Company granted &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;266,899&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;market-indexed&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; LTIP Units ("2016 LTIP Units") at a grant date fair value of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$53.32&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per LTIP Unit that vest over a service period ending &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2018&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The fair value of the 2016 LTIP Units was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1.32%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and an expected volatility of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20.31%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;4, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company granted &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;154,686&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; LTIP Units at a fair value of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$79.20&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per LTIP Unit that were fully vested on the grant date. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the compensation cost under the share and unit-based plans:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:443px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:320px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;LTIP Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;17,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;15,228&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock awards&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,372&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock options&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Phantom stock units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;604&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;311&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;21,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;18,815&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company capitalized share and unit-based compensation costs of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$4,959&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$4,347&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. Unrecognized compensation costs of share and unit-based plans at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; consisted of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$17,955&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; from LTIP Units, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$6,628&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; from stock units, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$23&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; from stock options and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$746&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; from phantom stock units.  &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="28" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:165px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:56px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:50px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;LTIP Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Awards&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Phantom Stock Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Shares&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56,315&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;73.24&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,612&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;62.01&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;132,086&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;74.58&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;480,371&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;65.00&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;14,534&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.42&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;85,045&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;79.24&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Vested&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(154,686&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;79.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(1,612&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;62.01&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(5,237&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.83&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(67,703&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;71.64&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Forfeited&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;382,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;60.47&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;9,297&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;80.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;149,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;78.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;Value represents the weighted average grant date fair value.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:634px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="14" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:274px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:82px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:76px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:82px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:76px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;SARs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Options&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;417,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;55.13&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,314&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;58.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Exercised&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(25,988&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;52.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Special dividend adjustment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,185&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;53.88&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;251&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;401,980&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;53.88&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,565&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;Value represents the weighted average exercise price.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
	<us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-681EB65030F1503296961A0B10E0863D">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Dispositions:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following are recent dispositions of properties:  &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;June&amp;#160;30, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company conveyed &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Great Northern Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, an &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;895,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Clay&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;New York&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, to the mortgage lender by a deed-in-lieu of foreclosure and was discharged from the mortgage note payable. The loan was nonrecourse to the Company. As a result, the Company recognized a loss on the extinguishment of debt of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,627&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;November&amp;#160;19, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company sold &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Panorama Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;312,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;community center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Panorama City&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;California&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$98,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, resulting in a gain on the sale of assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$73,726&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock>
	<us-gaap:EarningsPerShareTextBlock contextRef="FD2016Q1YTD" id="Fact-8B66F218B0405343B9E44C76D3663C2F">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Earnings per Share ("EPS"):&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table reconciles the numerator and denominator used in the computation of earnings per share for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (shares in thousands):&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:548px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:416px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:53px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Numerator&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;451,375&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;26,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to noncontrolling interests&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(30,460&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(2,056&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to the Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;420,915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,611&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Allocation of earnings to participating securities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(420&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(148&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Numerator for basic and diluted earnings per share&amp;#8212;net income attributable to common stockholders&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;420,495&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,463&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Denominator&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Denominator for basic earnings per share&amp;#8212;weighted average number of common shares outstanding&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;151,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;158,336&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Effect of dilutive securities:(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Share and unit-based compensation plans&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;119&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;208&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Denominator for diluted earnings per share&amp;#8212;weighted average number of common shares outstanding&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;152,103&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;158,544&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Earnings per common share&amp;#8212;net income attributable to common stockholders:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2.76&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Diluted EPS excludes &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;138,759&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;140,490&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; convertible preferred units for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively, as their impact was antidilutive.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Diluted EPS excludes &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;10,820,343&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;10,516,523&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; Operating Partnership units ("OP Units") for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively, as their impact was antidilutive.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
	<us-gaap:EquityMethodInvestmentsDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-DAE449392C67524999463B2F7896AA4A">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Investments in Unconsolidated Joint Ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company has made the following recent investments and dispositions in its unconsolidated joint ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;February&amp;#160;17, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company acquired the remaining &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;50%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, an &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;867,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;San Bernardino&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;California&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, that it did not previously own for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$51,250&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The purchase price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$26,250&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the assumption of the third party's share of the mortgage note payable on the property of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$25,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. Concurrent with the purchase of the joint venture interest, the Company paid off the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$50,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; mortgage note payable on the property. The cash payment was funded by borrowings under the Company's line of credit. Prior to the acquisition, the Company had accounted for its investment in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; under the equity method of accounting. Since the date of acquisition, the Company has included &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in its consolidated financial statements (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;13&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Acquisitions&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;30, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company entered into a 50/50 joint venture with Sears to own &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;nine&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; freestanding stores located at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Chandler Fashion Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Danbury Fair Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deptford Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Freehold Raceway Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Los Cerritos Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;South Plains Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Vintage Faire Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Washington Square&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company invested &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$150,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;50%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownerhsip interest in the joint venture, which was funded by borrowings under the Company's line of credit.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;October&amp;#160;30, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company sold a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (the "PPR Portfolio"), which owns &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lakewood Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,075,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lakewood&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;California&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Los Cerritos Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,296,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Cerritos&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;California&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;South Plains Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,127,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lubbock&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Texas&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Washington Square&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,442,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Portland&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Oregon&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, for a total sales price of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,258,643&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, resulting in a gain on the sale of assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$311,194&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The sales price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$545,643&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the assumption of a pro rata share of the mortgage notes payable on the properties of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$713,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used the cash proceeds from the sales to pay down its line of credit and for general corporate purposes, which included funding the ASR and Special Dividend (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;12&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stockholders' Equity&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;January&amp;#160;6, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;,  the Company sold a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,197,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Glendale&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arizona&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$289,496&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, resulting in a gain on the sale of assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$104,293&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The sales price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$129,496&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the assumption of a pro rata share of the mortgage note payable on the property of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$160,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes, which included funding the Special Dividend (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;12&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stockholders' Equity&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;January&amp;#160;14, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company formed a joint venture, whereby the Company sold a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deptford Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,040,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deptford&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;New Jersey&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;FlatIron Crossing&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,432,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Broomfield&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Colorado&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Twenty Ninth Street&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, an &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;852,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Boulder&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Colorado&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (the "&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;MAC Heitman Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;"), for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$771,478&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, resulting in a gain on the sale of assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$340,741&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The sales price was funded by a cash payment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$478,608&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and the assumption of a pro rata share of the mortgage note payable on the properties of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$292,870&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;1, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company, through a 50/50 joint venture, acquired &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Country Club Plaza&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,300,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Kansas City&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Missouri&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for a total purchase price of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$660,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company funded its pro rata share of the purchase price of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$330,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; with borrowings under its line of credit. On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;28, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the joint venture placed a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$320,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; loan on the property that bears interest at an effective rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3.88%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;1, 2026&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used its pro rata share of the proceeds to pay down its line of credit.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Combined and condensed balance sheets and statements of operations are presented below for all unconsolidated joint ventures.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:504px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets(1):&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Properties, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,246,945&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,334,442&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;621,668&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;507,718&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,868,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,842,160&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities and partners' capital(1):&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage and other notes payable(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,926,654&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,607,588&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;442,846&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;355,634&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,435,483&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,585,796&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Outside partners' capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,063,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,293,142&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities and partners' capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,868,613&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,842,160&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Investments in unconsolidated joint ventures:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's capital&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,435,483&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,585,796&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Basis adjustment(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(611,962&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(77,701&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,823,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,508,095&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets&amp;#8212;Investments in unconsolidated joint ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,844,516&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,532,552&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities&amp;#8212;Distributions in excess of investments in unconsolidated joint ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(20,995&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(24,457&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,823,521&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,508,095&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;These amounts include the assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$3,258,293&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$3,283,702&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, and liabilities of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,919,760&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,938,241&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a total of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$5,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; could become recourse debt to the Company. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company had an indemnity agreement from a joint venture partner for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,500&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the guaranteed amount.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$458,843&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$460,872&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates&amp;#8212;Broadway Plaza. Interest expense on these borrowings was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$6,366&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$8,508&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$4,457&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$420&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:593px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="13" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:320px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Pacific&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Premier&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Retail&amp;#160;LLC (1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Joint&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Ventures&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Total&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;"&gt;Three Months Ended March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Revenues:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Minimum rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;30,583&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;106,373&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;136,956&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Percentage rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;759&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,753&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,512&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant recoveries&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;11,976&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;43,443&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;55,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,838&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;10,352&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;13,190&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total revenues&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;46,156&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;161,921&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;208,077&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Expenses:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Shopping center and operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,786&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,298&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;63,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Interest expense&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;15,214&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;27,738&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,952&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;28,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;56,533&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;84,617&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,084&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;137,569&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;190,653&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Loss on sale or write down of assets, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(5&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net (loss) income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(6,928&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,347&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;17,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's equity in net (loss) income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,244&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;12,904&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;11,660&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;"&gt;Three Months Ended March 31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Revenues:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Minimum rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;67,522&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;67,522&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Percentage rents&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,623&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,623&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant recoveries&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;32,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;32,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,590&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,590&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total revenues&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;109,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;109,098&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Expenses:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Shopping center and operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,178&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;42,178&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Interest expense&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20,383&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20,383&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Depreciation and amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;29,670&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;29,670&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total operating expenses&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;92,231&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;92,231&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;16,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;16,867&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Company's equity in net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,274&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;_______________________________________________________________________________&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:42px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;These amounts exclude the results of operations from January 1, 2015 to March 31, 2015, as &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was wholly-owned during that period. On October 30, 2015, as a result of the PPR Portfolio transaction discussed above, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Pacific Premier Retail LLC&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was converted from wholly-owned to an unconsolidated joint venture.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Significant accounting policies used by the unconsolidated joint ventures are similar to those used by the Company.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:EquityMethodInvestmentsDisclosureTextBlock>
	<us-gaap:IncomeTaxDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-E9224863E6EF5BD1A775F1248405BB06">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:24px;text-indent:-24px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Income Taxes:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company has made taxable REIT subsidiary elections for all of its corporate subsidiaries other than its Qualified REIT Subsidiaries. The elections, effective for the year beginning &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;January&amp;#160;1, 2001&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and future years, were made pursuant to Section&amp;#160;856(l) of the Code. The Company's taxable REIT subsidiaries ("TRSs") are subject to corporate level income taxes which are provided for in the Company's consolidated financial statements. The Company's primary TRSs include Macerich Management Company and Macerich Arizona Partners&amp;#160;LLC.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The income tax provision of the TRSs are as follows:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:418px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:270px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:58px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:58px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Current&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Income tax (expense) benefit &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The net operating loss carryforwards are currently scheduled to expire through &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2035&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, beginning in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2024&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. Net deferred tax assets of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$37,591&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$38,847&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; were included in deferred charges and other assets, net at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The tax years &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2011&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; through &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next twelve months.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
	<us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-848BE5D076AF5B7094916B616A54F549">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Tenant and Other Receivables, net:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Included in tenant and other receivables, net is an allowance for doubtful accounts of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,684&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$3,072&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. Also included in tenant and other receivables, net are accrued percentage rents of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$1,157&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$10,940&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, and a deferred rent receivable due to straight-line rent adjustments of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$54,079&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$60,790&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;17, 2014&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, in connection with the sale of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lake Square Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company issued a note receivable for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$6,500&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; that bears interest at an effective rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6.5%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;17, 2018&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and is collateralized by a trust deed on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lake Square Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the note had a balance of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$6,331&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$6,351&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock>
	<us-gaap:MinorityInterestDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-A7A89E4947B75CC983407ACF7686AD66">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Noncontrolling Interests:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company allocates net income of the Operating Partnership based on the weighted average ownership interest during the period. The net income of the Operating Partnership that is not attributable to the Company is reflected in the consolidated statements of operations as noncontrolling interests. The Company adjusts the noncontrolling interests in the Operating Partnership at the end of each period to reflect its ownership interest in the Company. The Company had a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;93%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in the Operating Partnership as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The remaining &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;7%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; limited partnership interest as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was owned by certain of the Company's executive officers and directors, certain of their affiliates, and other third party investors in the form of OP Units. The OP Units may be redeemed for shares of stock or cash, at the Company's option. The redemption value for each OP Unit as of any balance sheet date is the amount equal to the average of the closing price per share of the Company's common stock, par value &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$0.01&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share, as reported on the New York Stock Exchange for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;10&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; trading days ending on the respective balance sheet date. Accordingly, as of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$860,925&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$870,625&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company issued common and preferred units of MACWH,&amp;#160;LP in April&amp;#160;2005 in connection with the acquisition of the Wilmorite portfolio. The common and preferred units of MACWH,&amp;#160;LP are redeemable at the election of the holder. The Company may redeem them for cash or shares of the Company's stock at the Company's option and they are classified as permanent equity.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Included in permanent equity are outside ownership interests in various consolidated joint ventures. The joint ventures do not have rights that require the Company to redeem the ownership interests in either cash or stock.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:MinorityInterestDisclosureTextBlock>
	<us-gaap:MortgageNotesPayableDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-534403AB7F455C35BD0C9C410154724A">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Mortgage Notes Payable:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage notes payable at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:614px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="27" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:189px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:52px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Carrying Amount of Mortgage Notes(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Property Pledged as Collateral&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Related Party&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Related Party&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Other&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Effective Interest&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Rate(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Monthly&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Debt&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Service(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Maturity&lt;/font&gt;&lt;/div&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Date(4)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Arrowhead Towne Center(5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;221,194&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Chandler Fashion Center(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;199,784&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;199,766&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;625&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Danbury Fair Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;110,307&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;110,307&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;111,078&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;111,079&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;5.53&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,538&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;193,337&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall(8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;13,999&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Chicago&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;198,688&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;198,653&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.10&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;323&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Niagara Falls USA&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117,903&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117,708&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.89&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;727&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2020&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Flagstaff Mall(9)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;37,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;37,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8.97&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;153&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;FlatIron Crossing(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;254,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Freehold Raceway Mall(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;223,805&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;224,836&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,132&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Green Acres Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;302,428&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;303,960&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.61&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,447&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2021&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Kings Plaza Shopping Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;463,952&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;466,266&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.67&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2,229&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Northgate Mall(10)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;63,777&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;63,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.32&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;143&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Oaks, The&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;204,492&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;205,555&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.14&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,064&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Pacific View&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;129,419&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;130,108&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.08&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;668&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Queens Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;600,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;600,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.49&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,744&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2025&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Santa Monica Place&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;223,509&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;224,815&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.99&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,004&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2018&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;SanTan Village Regional Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;129,911&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;130,638&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.14&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;589&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2019&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Stonewood Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;104,023&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;105,494&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1.80&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;640&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2017&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Superstition Springs Center(11)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;67,674&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;67,749&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.26&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;154&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Towne Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;21,860&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;21,956&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.48&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;117&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Tucson La Encantada&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;69,628&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;69,991&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.23&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;368&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Victor Valley, Mall of&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;114,515&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;114,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.00&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;380&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2024&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Vintage Faire Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;273,125&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;274,417&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.55&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;1,255&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2026&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Westside Pavilion&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;145,942&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;146,630&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.49&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;%&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2022&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;179,935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3,732,114&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;181,069&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,427,518&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;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:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:298px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:77px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:3px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Property Pledged as Collateral&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,494&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Deptford Mall&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(3&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Fashion Outlets of Niagara Falls USA&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,254&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,486&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Stonewood Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4,467&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;5,168&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Superstition Springs Center&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;184&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;263&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;8,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;18,408&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:60px;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The mortgage notes payable balances also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.  Unamortized deferred finance costs were &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$13,182&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$16,025&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(2)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(3)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The monthly debt service represents the payment of principal and interest.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(4)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;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.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(5)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;January&amp;#160;6, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the Company replaced the existing loan on the property with a new &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; loan that bears interest at an effective rate of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4.05%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;February&amp;#160;1, 2028&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, which resulted in a loss of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$3,575&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; on the early extinguishment of debt. Concurrently, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan was assumed by a third party in connection with the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; ownership interest in the underlying property (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(6)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;A &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49.9%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:8pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;Co-Venture Arrangement&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(7)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;January&amp;#160;14, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; interest in the loan was assumed by a third party in connection with the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; ownership interest in the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;MAC Heitman Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(8)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;1, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the Company paid off in full the loan on the property. &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(9)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;November&amp;#160;1, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, this non-recourse loan went into maturity default. The Company is negotiating with the loan servicer, which will likely result in a transition of the property to the loan servicer or a receiver.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(10)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The loan bears interest at LIBOR plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.25%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;1, 2017&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the total interest rate was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.32%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;3.30%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:60px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;padding-left:30px;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(11)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;The loan bears interest at LIBOR plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.30%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and matures on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;October&amp;#160;28, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;. At &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, the total interest rate was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.26%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;2.17%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Most of the Company's mortgage notes payable are secured by the properties on which they are placed and are non-recourse to the Company. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a total of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$13,500&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the mortgage notes payable could become recourse to the Company.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company expects that all loan maturities during the next twelve months, except for the loan on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Flagstaff Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, will be refinanced, restructured, extended and/or paid-off from the Company's line of credit or with cash on hand. The mortgage note payable on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Flagstaff Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, which went into maturity default on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;November&amp;#160;1, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, is a non-recourse loan.&amp;#160;The Company is working with the loan servicer and expects the property will be transferred to the loan servicer or a receiver.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total interest expense capitalized was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$2,303&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,629&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; during the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Related party mortgage notes payable are amounts due to an affiliate of NML. See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;16&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Related Party Transactions&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for interest expense associated with loans from NML.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The estimated fair value (Level&amp;#160;2 measurement) of mortgage notes payable at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$3,951,798&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$4,628,781&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively, based on current interest rates for comparable loans. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:MortgageNotesPayableDisclosureTextBlock>
	<us-gaap:NatureOfOperations contextRef="FD2016Q1YTD" id="Fact-557299096A65517D97388BDC5E336E6F">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;"&gt;Organization&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The Company commenced operations effective with the completion of its initial public offering on March&amp;#160;16, 1994. As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company was the sole general partner of and held a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;93%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in The Macerich Partnership,&amp;#160;L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code").&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company,&amp;#160;LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners&amp;#160;LLC, a single member Arizona limited liability company, Macerich Arizona Management&amp;#160;LLC, a single member Delaware limited liability company, Macerich Partners of Colorado, LLC, a single member Colorado limited liability company, MACW Mall Management,&amp;#160;Inc., a New York corporation, and MACW Property Management,&amp;#160;LLC, a single member New York limited liability company. All &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;seven&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the management companies are collectively referred to herein as the "Management Companies."&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;All references to the Company in this Quarterly Report on Form&amp;#160;10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:NatureOfOperations>
	<us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="FD2016Q1YTD" id="Fact-293568DD81485C11AEE2CA4AF8DA8A7B">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Recent Accounting Pronouncements:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In May 2014, the Financial Accounting Standards Board (&amp;#8220;FASB&amp;#8221;) issued ASU 2014-09,&amp;#160;&amp;#8220;Revenue From Contracts With Customers,&amp;#8221;&amp;#160;which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 states that &amp;#8220;an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&amp;#8221; While ASU 2014-09 specifically references contracts with customers, it may apply to certain other transactions such as the sale of real estate or equipment. In July 2015, the FASB voted to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning January 1, 2018, with early adoption permitted beginning January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;In April 2015, the FASB issued ASU 2015-03,&amp;#160;&amp;#8220;Simplifying the Presentation of Debt Issuance Costs,&amp;#8221; which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The Company's adoption of ASU 2015-03 on January 1, 2016 resulted in an adjustment of its consolidated balance sheet at December 31, 2015 to reflect the new presentation required by the standard. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which requires adjustments to provisional amounts used in business combinations during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. It also requires the disclosure of the impact on changes in estimates on earnings, depreciation, amortization and other income effects. The Company's adoption of this standard on January 1, 2016 did not have an impact on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not initial direct leasing costs. ASU 2016-02 is effective for the Company beginning January 1, 2019. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718)," which amends the accounting for share-based payments, including the income tax consequences, classification of awards and classification on the statement of cash flows. ASU 2016-09 is effective for the Company beginning January 1, 2017. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
	<us-gaap:OtherAssetsDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-281E37016876552DBF9C6C5A85CB60C1">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Deferred Charges and Other Assets, net:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred charges and other assets, net consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:412px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Leasing&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;224,302&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;248,709&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Intangible assets:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In-place lease values&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;159,057&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;196,969&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Leasing commissions and legal costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,556&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Above-market leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;210,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred tax assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,591&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;38,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred compensation plan assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,818&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,341&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;70,070&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;760,420&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;864,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(255,256&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(300,492&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;505,164&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;564,291&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;padding-left:48px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Accumulated amortization includes &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;$84,501&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;$109,453&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; relating to in-place lease values, leasing commissions and legal costs at &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;$8,847&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;$21,678&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The allocated values of above-market leases and below-market leases consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:412px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Above-Market Leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Original allocated value&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;210,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(70,277&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(73,520&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;140,456&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;147,327&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Below-Market Leases(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Original allocated value&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;202,454&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;227,063&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(91,718&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(101,872&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;110,736&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;125,191&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;padding-left:48px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Below-market leases are included in other accrued liabilities.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:OtherAssetsDisclosureTextBlock>
	<us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-D1565C798C3B573BA9D1FF8ADA6D27A5">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Property, net:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Property, net consists of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:588px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:410px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Land&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,658,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,894,717&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Buildings and improvements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,595,692&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,752,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant improvements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;573,863&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;637,355&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Equipment and furnishings&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;161,891&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;169,841&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Construction in progress&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;264,431&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;234,851&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,254,343&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;10,689,656&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,727,691&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,892,744&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,526,652&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,796,912&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Depreciation expense was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$69,903&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$90,197&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The gain on sale or write down of assets, net for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; includes a gain of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$104,293&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;40%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;), &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$340,741&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the sale of a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;49%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; ownership interest in the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;MAC Heitman Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;) and a gain of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$2,412&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the sale of land offset in part by a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$12,294&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; adjustment to contingent consideration (See Note 13&amp;#8212;Acquisitions) and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$696&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the write-off of development costs. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The gain on sale or write down of assets, net for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; includes a gain of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,056&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the sale of land offset in part by a loss of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$121&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; on the sale of assets.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
	<us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-8EA6DDD47B595FB5B1099E22786AE3E3">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Related Party Transactions:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Certain unconsolidated joint ventures have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses. &lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following are fees charged to unconsolidated joint ventures:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:356px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:233px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Management fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,953&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,211&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Development and leasing fees&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2,961&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,914&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,103&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Certain mortgage notes on the properties are held by NML (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;8&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Mortgage Notes Payable&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;). Interest expense in connection with these notes was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,272&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;$2,729&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. Included in accounts payable and accrued expenses is interest payable on these notes of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$751&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$756&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Due from affiliates includes prepaid and/or unreimbursed costs and fees from unconsolidated joint ventures due to the Management Companies.  As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the amounts due (from) to the unconsolidated joint ventures was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$(2,865)&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$7,467&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In addition, due from affiliates at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; included a note receivable from RED/303 LLC ("RED") that bears interest at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;5.25%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and matures on May 30, 2016. Interest income earned on this note was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$117&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$137&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. The balance on this note was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$8,222&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$9,252&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. RED is considered a related party because it is a partner in a joint venture development project. The note is collateralized by RED's membership interest in a development agreement.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Also included in due from affiliates is a note receivable from &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lennar Corporation&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; that bears interest at LIBOR plus &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and matures upon the completion of certain milestones in connection with the development of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fashion Outlets of San Francisco&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. Interest income earned on this note was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$521&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$433&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. The balance on this note was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$67,730&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$67,209&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; at &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, respectively. &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Lennar Corporation&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; is considered a related party because it has an ownership interest in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fashion Outlets of San Francisco&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
	<us-gaap:ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock contextRef="FD2016Q1YTD" id="Fact-9743B807DAE254FBB695683462B55897">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The allocated values of above-market leases and below-market leases consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:412px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Above-Market Leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Original allocated value&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;210,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(70,277&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(73,520&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;140,456&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;147,327&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Below-Market Leases(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Original allocated value&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;202,454&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;227,063&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(91,718&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(101,872&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;110,736&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;125,191&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;padding-left:48px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Below-market leases are included in other accrued liabilities.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock>
	<us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock contextRef="FD2016Q1YTD" id="Fact-55B23CE139F25DA4B2CC2329D8CE97AE">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following summarizes the compensation cost under the share and unit-based plans:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:443px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:320px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:46px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:45px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;LTIP Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;17,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;15,228&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock awards&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;20&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;75&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,372&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;3,197&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stock options&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Phantom stock units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;604&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;311&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;21,399&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;18,815&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock>
	<us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="FD2016Q1YTD" id="Fact-59E292A05245521F84E746D7AE40CECC">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The income tax provision of the TRSs are as follows:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:418px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:270px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:58px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:9px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:58px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Current&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Income tax (expense) benefit &lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,317&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;935&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
	<us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="FD2016Q1YTD" id="Fact-CAC31E7E903357E886FFFDEDC4BFEBCA">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Earnings per Share ("EPS"):&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table reconciles the numerator and denominator used in the computation of earnings per share for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:normal;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (shares in thousands):&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:548px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:416px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:47px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:53px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;For the Three Months Ended March 31,&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Numerator&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;451,375&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;26,667&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to noncontrolling interests&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(30,460&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(2,056&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Net income attributable to the Company&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;420,915&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,611&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Allocation of earnings to participating securities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(420&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(148&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Numerator for basic and diluted earnings per share&amp;#8212;net income attributable to common stockholders&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;420,495&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;24,463&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Denominator&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Denominator for basic earnings per share&amp;#8212;weighted average number of common shares outstanding&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;151,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;158,336&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Effect of dilutive securities:(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Share and unit-based compensation plans&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;119&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;208&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Denominator for diluted earnings per share&amp;#8212;weighted average number of common shares outstanding&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;152,103&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;158,544&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Earnings per common share&amp;#8212;net income attributable to common stockholders:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Basic&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Diluted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2.76&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;0.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:30px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;padding-left:0px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Diluted EPS excludes &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;138,759&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;140,490&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; convertible preferred units for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively, as their impact was antidilutive.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Diluted EPS excludes &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;10,820,343&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;10,516,523&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; Operating Partnership units ("OP Units") for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively, as their impact was antidilutive.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
	<us-gaap:ScheduleOfOtherAssetsTableTextBlock contextRef="FD2016Q1YTD" id="Fact-777D5A2DB60050E0A8707BDCFA6DEF4E">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred charges and other assets, net consist of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:412px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Leasing&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;224,302&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;248,709&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Intangible assets:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;In-place lease values&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;159,057&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;196,969&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Leasing commissions and legal costs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,556&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Above-market leases&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;210,733&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred tax assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,591&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;38,847&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred compensation plan assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,818&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;37,341&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;53,363&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;70,070&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;760,420&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;864,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated amortization(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(255,256&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(300,492&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;505,164&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;564,291&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="3" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:26px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:373px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:282px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"&gt;&lt;tr&gt;&lt;td style="width:72px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:top" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;padding-left:48px;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:top;" rowspan="1" colspan="1"&gt;&lt;div style="line-height:120%;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;Accumulated amortization includes &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;$84,501&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;$109,453&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; relating to in-place lease values, leasing commissions and legal costs at &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;December&amp;#160;31, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;$8,847&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;$21,678&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; for the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;"&gt;three months ended&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;"&gt;2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;, respectively.&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;</us-gaap:ScheduleOfOtherAssetsTableTextBlock>
	<us-gaap:ScheduleOfRealEstatePropertiesTableTextBlock contextRef="FD2016Q1YTD" id="Fact-5F9D73824ACF5D69AF14A09C08C1D327">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Property, net consists of the following:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:588px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:410px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:73px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Land&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,658,466&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;1,894,717&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Buildings and improvements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;6,595,692&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,752,892&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Tenant improvements&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;573,863&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;637,355&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Equipment and furnishings&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;161,891&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;169,841&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Construction in progress&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;264,431&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;234,851&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,254,343&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;10,689,656&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Less accumulated depreciation&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,727,691&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;(1,892,744&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;7,526,652&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;8,796,912&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRealEstatePropertiesTableTextBlock>
	<us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock contextRef="FD2016Q1YTD" id="Fact-4E3BB6DA53F6573DA393AF7B7DB63F02">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following is a summary of the allocation of the fair value of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Inland Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="4" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:85%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:13%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:1%;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Property&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;91,871&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Deferred charges&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;9,752&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;5,782&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets acquired&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;107,405&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage note payable&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;50,000&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other accrued liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities assumed&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;54,905&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Fair value of acquired net assets (at 100% ownership)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;52,500&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock>
	<us-gaap:ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock contextRef="FD2016Q1YTD" id="Fact-9973BF2263A451D7A97ADDA7F2C80AF7">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:634px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="14" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:274px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:82px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:76px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:82px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:76px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;SARs&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Stock Options&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Units&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;Value(1)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at January 1, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;417,783&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;55.13&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,314&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;58.15&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Granted&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Exercised&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;(25,988&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;)&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;52.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Special dividend adjustment&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,185&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;53.88&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;251&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;Balance at March 31, 2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;401,980&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;53.88&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;10,565&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;"&gt;56.77&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:20px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="overflow:hidden;height:5px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"&gt;&lt;font style="font-family:inherit;font-size:9pt;"&gt;(1)&amp;#160;&amp;#160;&amp;#160;&amp;#160;Value represents the weighted average exercise price.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock>
	<us-gaap:ScheduleOfVariableInterestEntitiesTextBlock contextRef="FD2016Q1YTD" id="Fact-8F7A3D78604D59DB35F277B017EA528D">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;The VIEs included the following assets and liabilities:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"&gt;&lt;div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"&gt;&lt;table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"&gt;&lt;tr&gt;&lt;td colspan="8" rowspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="width:480px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:69px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:5px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:8px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:70px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;td style="width:4px;" rowspan="1" colspan="1"&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;March&amp;#160;31, &lt;br clear="none"/&gt;2016&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"&gt;&lt;div style="text-align:center;font-size:8pt;"&gt;&lt;font style="font-family:inherit;font-size:8pt;font-weight:bold;"&gt;December&amp;#160;31, &lt;br clear="none"/&gt;2015&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Assets:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Properties, net&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;360,666&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;362,129&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;76,202&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;74,075&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total assets&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,868&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;436,204&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Liabilities:&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Mortgage notes payable&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;138,130&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;139,767&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Other liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;81,932&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;79,984&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Total liabilities&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;220,062&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"&gt;&lt;div style="overflow:hidden;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#160;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:right;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;219,751&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"&gt;&lt;div style="text-align:left;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&lt;br clear="none"/&gt;&lt;/font&gt;&lt;/div&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:ScheduleOfVariableInterestEntitiesTextBlock>
	<us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="FD2016Q1YTD" id="Fact-14BF089AABD358F783A0044BEF319783">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Stockholders' Equity:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Stock Buyback Program:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;September&amp;#160;30, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company's Board of Directors authorized the repurchase of up to &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$1,200,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the Company's outstanding common shares over the period ending &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;September&amp;#160;30, 2017&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, as market conditions warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated stock repurchase transactions, or other methods of acquiring shares and pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, from time to time as permitted by securities laws and other legal requirements.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;November&amp;#160;12, 2015&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company entered into an accelerated share repurchase program ("ASR") to repurchase &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the Company's common stock. In accordance with the ASR, the Company made a prepayment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and received an initial share delivery of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,140,788&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares. On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;January&amp;#160;19, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the ASR was completed and the Company received an additional delivery of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;970,609&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares. The average price of the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;5,111,397&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares repurchased under the ASR was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$78.26&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share. The ASR was funded from proceeds in connection with the financing and sale of the ownership interest in the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;PPR Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;February&amp;#160;17, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company entered into an ASR to repurchase an additional &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the Company's common stock. In accordance with the ASR, the Company made a prepayment of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$400,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and received an initial share delivery of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4,222,193&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares. On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;19, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the ASR was completed and the Company received an additional delivery of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;861,235&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares. The average price of the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;5,083,428&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares repurchased under the ASR was &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$78.69&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share. The ASR was funded from borrowings under the Company's line of credit, which had been recently paid down from the proceeds from the recently completed financings and sale of ownership interests (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;Special Dividends:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On October 30, 2015, the Company declared &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;two&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; special dividends/distributions ("Special Dividend"), each of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$2.00&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share of common stock and per OP Unit.&amp;#160; The first Special Dividend was paid on December 8, 2015 to common stockholders and OP Unit holders of record on November 12, 2015.&amp;#160;The second Special Dividend was paid on January 6, 2016 to common stockholders and OP Unit holders of record on November 12, 2015. The Special Dividends were funded from proceeds in connection with the financing and sale of ownership interests in the &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;PPR Portfolio&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; and &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Arrowhead Towne Center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;4&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;"&gt;Investments in Unconsolidated Joint Ventures&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-style:italic;"&gt;At-The-Market Stock Offering Program ("ATM Program"):&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On August 20, 2014, the Company entered into an equity distribution agreement with a number of sales agents (the "ATM Program") to issue and sell, from time to time, shares of common stock, par value &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$0.01&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share, having an aggregate offering price of up to &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$500,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; (the &amp;#8220;ATM Shares&amp;#8221;). Sales of the ATM Shares can be made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an &amp;#8220;at the market&amp;#8221; offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. The Company agreed to pay each sales agent a commission that was not to exceed, but could have been lower than, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;2%&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the gross proceeds of the ATM Shares sold through such sales agent under the distribution agreement.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;As of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;March&amp;#160;31, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$500,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; of the ATM Shares were available to be sold under the ATM Program. Actual future sales of the ATM Shares under the ATM Program will depend upon a variety of factors including but not limited to market conditions, the trading price of the Company's common stock and the Company's capital needs. The Company has no obligation to sell the ATM Shares under the ATM Program.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
	<us-gaap:SubsequentEventsTextBlock contextRef="FD2016Q1YTD" id="Fact-48EAEC8011045C04891D9EE0D190E925">&lt;div style="font-family:Times New Roman;font-size:10pt;"&gt;&lt;div style="line-height:120%;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;font-weight:bold;"&gt;Subsequent Events:&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;13, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company sold &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Capitola Mall&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, a &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;586,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; square foot &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;regional shopping center&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; in &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Capitola&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;California&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, for &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$93,000&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;19, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company completed an ASR and took delivery of an additional &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;861,235&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares.  Upon the completion of the ASR, the Company repurchased a total of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;5,083,428&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; shares with an average price of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$78.69&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share (See Note&amp;#160;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;12&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;&amp;#8212;&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;Stockholders' Equity&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;).&lt;/font&gt;&lt;/div&gt;&lt;div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;On &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;April&amp;#160;26, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;, the Company announced a dividend/distribution of &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;$0.68&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt; per share for common stockholders and OP Unit holders of record on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;May&amp;#160;5, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;. All dividends/distributions will be paid 100% in cash on &lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;June&amp;#160;3, 2016&lt;/font&gt;&lt;font style="font-family:inherit;font-size:10pt;"&gt;.&lt;/font&gt;&lt;/div&gt;&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
	<link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
	</link:footnoteLink>
</xbrli:xbrl>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>8
<FILENAME>mac-20160331.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<xsd:schema attributeFormDefault="unqualified" elementFormDefault="qualified" targetNamespace="http://www.macerich.com/20160331" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:mac="http://www.macerich.com/20160331" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsd="http://www.w3.org/2001/XMLSchema">
  <xsd:import namespace="http://fasb.org/us-gaap/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-roles/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-roles-2015-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-types/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-types-2015-01-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/arcrole/fact-explanatoryFact" schemaLocation="http://www.xbrl.org/lrr/arcrole/factExplanatory-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/net" schemaLocation="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/country/2013-01-31" schemaLocation="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/currency/2014-01-31" schemaLocation="http://xbrl.sec.gov/currency/2014/currency-2014-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2014-01-31" schemaLocation="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/exch/2015-01-31" schemaLocation="http://xbrl.sec.gov/exch/2015/exch-2015-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/invest/2013-01-31" schemaLocation="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/naics/2011-01-31" schemaLocation="http://xbrl.sec.gov/naics/2011/naics-2011-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/sic/2011-01-31" schemaLocation="http://xbrl.sec.gov/sic/2011/sic-2011-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/stpr/2011-01-31" schemaLocation="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd" />
  <xsd:annotation>
    <xsd:appinfo>
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mac-20160331_cal.xml" xlink:role="http://www.xbrl.org/2003/role/calculationLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mac-20160331_def.xml" xlink:role="http://www.xbrl.org/2003/role/definitionLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mac-20160331_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:type="simple" />
      <link:linkbaseRef xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:href="mac-20160331_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:type="simple" />
      <link:roleType id="Acquisitions" roleURI="http://www.macerich.com/role/Acquisitions">
        <link:definition>2114100 - Disclosure - Acquisitions:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsAllocationOfFairValueDetails" roleURI="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails">
        <link:definition>2414403 - Disclosure - Acquisitions - Allocation of Fair Value (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsNarrativeDetails" roleURI="http://www.macerich.com/role/AcquisitionsNarrativeDetails">
        <link:definition>2414402 - Disclosure - Acquisitions - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsReconciliationOfPurchasePriceDetails" roleURI="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails">
        <link:definition>2414405 - Disclosure - Acquisitions - Reconciliation of Purchase Price (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsRemeasurementGainDetails" roleURI="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails">
        <link:definition>2414404 - Disclosure - Acquisitions - Remeasurement Gain (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="AcquisitionsTables" roleURI="http://www.macerich.com/role/AcquisitionsTables">
        <link:definition>2314301 - Disclosure - Acquisitions: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="BankAndOtherNotesPayable" roleURI="http://www.macerich.com/role/BankAndOtherNotesPayable">
        <link:definition>2110100 - Disclosure - Bank and Other Notes Payable:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="BankAndOtherNotesPayableDetails" roleURI="http://www.macerich.com/role/BankAndOtherNotesPayableDetails">
        <link:definition>2410401 - Disclosure - Bank and Other Notes Payable: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CoVentureArrangement" roleURI="http://www.macerich.com/role/CoVentureArrangement">
        <link:definition>2111100 - Disclosure - Co-Venture Arrangement:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CoVentureArrangementDetails" roleURI="http://www.macerich.com/role/CoVentureArrangementDetails">
        <link:definition>2411401 - Disclosure - Co-Venture Arrangement: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingencies" roleURI="http://www.macerich.com/role/CommitmentsAndContingencies">
        <link:definition>2116100 - Disclosure - Commitments and Contingencies:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="CommitmentsAndContingenciesDetails" roleURI="http://www.macerich.com/role/CommitmentsAndContingenciesDetails">
        <link:definition>2416401 - Disclosure - Commitments and Contingencies: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheets" roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheets">
        <link:definition>1001000 - Statement - CONSOLIDATED BALANCE SHEETS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedBalanceSheetsParenthetical" roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical">
        <link:definition>1001501 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementOfEquity" roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquity">
        <link:definition>1004000 - Statement - CONSOLIDATED STATEMENT OF EQUITY</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementOfEquityParenthetical" roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical">
        <link:definition>1004501 - Statement - CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfCashFlows" roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows">
        <link:definition>1005000 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ConsolidatedStatementsOfOperations" roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfOperations">
        <link:definition>1002000 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DeferredChargesAndOtherAssetsNet" roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet">
        <link:definition>2108100 - Disclosure - Deferred Charges and Other Assets, net:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails">
        <link:definition>2408403 - Disclosure - Deferred Charges and Other Assets, net - Allocated Values (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DeferredChargesAndOtherAssetsNetDetails" roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails">
        <link:definition>2408402 - Disclosure - Deferred Charges and Other Assets, net: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DeferredChargesAndOtherAssetsNetTables" roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables">
        <link:definition>2308301 - Disclosure - Deferred Charges and Other Assets, net: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="Dispositions" roleURI="http://www.macerich.com/role/Dispositions">
        <link:definition>2115100 - Disclosure - Dispositions:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DispositionsDetails" roleURI="http://www.macerich.com/role/DispositionsDetails">
        <link:definition>2415401 - Disclosure - Dispositions: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="DocumentAndEntityInformation" roleURI="http://www.macerich.com/role/DocumentAndEntityInformation">
        <link:definition>0001000 - Document - Document and Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="EarningsPerShareEps" roleURI="http://www.macerich.com/role/EarningsPerShareEps">
        <link:definition>2103100 - Disclosure - Earnings per Share ("EPS"):</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="EarningsPerShareEpsDetails" roleURI="http://www.macerich.com/role/EarningsPerShareEpsDetails">
        <link:definition>2403402 - Disclosure - Earnings per Share ("EPS"): (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="EarningsPerShareEpsTables" roleURI="http://www.macerich.com/role/EarningsPerShareEpsTables">
        <link:definition>2303301 - Disclosure - Earnings per Share ("EPS"): (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxes" roleURI="http://www.macerich.com/role/IncomeTaxes">
        <link:definition>2119100 - Disclosure - Income Taxes:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesDetails" roleURI="http://www.macerich.com/role/IncomeTaxesDetails">
        <link:definition>2419402 - Disclosure - Income Taxes: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="IncomeTaxesTables" roleURI="http://www.macerich.com/role/IncomeTaxesTables">
        <link:definition>2319301 - Disclosure - Income Taxes: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVentures" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures">
        <link:definition>2104100 - Disclosure - Investments in Unconsolidated Joint Ventures:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails">
        <link:definition>2404404 - Disclosure - Investments in Unconsolidated Joint Ventures - Balance Sheet Footnotes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails">
        <link:definition>2404403 - Disclosure - Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails">
        <link:definition>2404405 - Disclosure - Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails">
        <link:definition>2404402 - Disclosure - Investments in Unconsolidated Joint Ventures - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="InvestmentsInUnconsolidatedJointVenturesTables" roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables">
        <link:definition>2304301 - Disclosure - Investments in Unconsolidated Joint Ventures: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="MortgageNotesPayable" roleURI="http://www.macerich.com/role/MortgageNotesPayable">
        <link:definition>2109100 - Disclosure - Mortgage Notes Payable:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="MortgageNotesPayableFootnotesDetails" roleURI="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails">
        <link:definition>2409404 - Disclosure - Mortgage Notes Payable - Footnotes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="MortgageNotesPayablePremiumsAndDiscountsDetails" roleURI="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails">
        <link:definition>2409403 - Disclosure - Mortgage Notes Payable - Premiums and Discounts (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" roleURI="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails">
        <link:definition>2409402 - Disclosure - Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="MortgageNotesPayableTables" roleURI="http://www.macerich.com/role/MortgageNotesPayableTables">
        <link:definition>2309301 - Disclosure - Mortgage Notes Payable: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="NoncontrollingInterests" roleURI="http://www.macerich.com/role/NoncontrollingInterests">
        <link:definition>2112100 - Disclosure - Noncontrolling Interests:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="NoncontrollingInterestsDetails" roleURI="http://www.macerich.com/role/NoncontrollingInterestsDetails">
        <link:definition>2412401 - Disclosure - Noncontrolling Interests: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="Organization" roleURI="http://www.macerich.com/role/Organization">
        <link:definition>2101100 - Disclosure - Organization:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="OrganizationDetails" roleURI="http://www.macerich.com/role/OrganizationDetails">
        <link:definition>2401401 - Disclosure - Organization: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="PropertyNet" roleURI="http://www.macerich.com/role/PropertyNet">
        <link:definition>2106100 - Disclosure - Property, net:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="PropertyNetDetails" roleURI="http://www.macerich.com/role/PropertyNetDetails">
        <link:definition>2406402 - Disclosure - Property, net: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="PropertyNetNarrativeDetails" roleURI="http://www.macerich.com/role/PropertyNetNarrativeDetails">
        <link:definition>2406403 - Disclosure - Property, net - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="PropertyNetTables" roleURI="http://www.macerich.com/role/PropertyNetTables">
        <link:definition>2306301 - Disclosure - Property, net: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RelatedPartyTransactions" roleURI="http://www.macerich.com/role/RelatedPartyTransactions">
        <link:definition>2117100 - Disclosure - Related Party Transactions:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RelatedPartyTransactionsDetails" roleURI="http://www.macerich.com/role/RelatedPartyTransactionsDetails">
        <link:definition>2417402 - Disclosure - Related Party Transactions: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="RelatedPartyTransactionsTables" roleURI="http://www.macerich.com/role/RelatedPartyTransactionsTables">
        <link:definition>2317301 - Disclosure - Related Party Transactions: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlans" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlans">
        <link:definition>2118100 - Disclosure - Share and Unit-Based Plans:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlansCompensationCostDetails" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails">
        <link:definition>2418403 - Disclosure - Share and Unit-Based Plans - Compensation Cost (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlansNarrativeDetails" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails">
        <link:definition>2418402 - Disclosure - Share and Unit-Based Plans - Narrative (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails">
        <link:definition>2418404 - Disclosure - Share and Unit-Based Plans - Nonvested Equity Awards (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlansSarsDetails" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails">
        <link:definition>2418405 - Disclosure - Share and Unit-Based Plans - SARs (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="ShareAndUnitBasedPlansTables" roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansTables">
        <link:definition>2318301 - Disclosure - Share and Unit-Based Plans: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockholdersEquity" roleURI="http://www.macerich.com/role/StockholdersEquity">
        <link:definition>2113100 - Disclosure - Stockholders' Equity:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="StockholdersEquityDetails" roleURI="http://www.macerich.com/role/StockholdersEquityDetails">
        <link:definition>2413401 - Disclosure - Stockholders' Equity (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SubsequentEvents" roleURI="http://www.macerich.com/role/SubsequentEvents">
        <link:definition>2120100 - Disclosure - Subsequent Events:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SubsequentEventsDetails" roleURI="http://www.macerich.com/role/SubsequentEventsDetails">
        <link:definition>2420401 - Disclosure - Subsequent Events: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPolicies" roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies">
        <link:definition>2102100 - Disclosure - Summary of Significant Accounting Policies:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesDetails" roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails">
        <link:definition>2402403 - Disclosure - Summary of Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesPolicies" roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies">
        <link:definition>2202201 - Disclosure - Summary of Significant Accounting Policies: (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables">
        <link:definition>2302302 - Disclosure - Summary of Significant Accounting Policies: Summary of Significant Accounting Policies: (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="TenantAndOtherReceivablesNet" roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNet">
        <link:definition>2107100 - Disclosure - Tenant and Other Receivables, net:</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType id="TenantAndOtherReceivablesNetDetails" roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails">
        <link:definition>2407401 - Disclosure - Tenant and Other Receivables, net: (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:element id="mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" name="AcceleratedShareRepurchaseProgramNumberofSharesPurchased" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets" name="AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_AcquisitionNoncontrollingInterestAdjustment" name="AcquisitionNoncontrollingInterestAdjustment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ArrowheadTowneCenterMember" name="ArrowheadTowneCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ArrowheadTowneCenterMortgageMember" name="ArrowheadTowneCenterMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_BelowMarketLeaseMember" name="BelowMarketLeaseMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" name="BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="mac_CandlestickPointMember" name="CandlestickPointMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_CapitolaMallMember" name="CapitolaMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ChandlerFashionCenterMember" name="ChandlerFashionCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ChandlerFashionCenterMortgageMember" name="ChandlerFashionCenterMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_CoVentureArrangementDisclosureAbstract" name="CoVentureArrangementDisclosureAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_CoVentureArrangementDisclosureTextBlock" name="CoVentureArrangementDisclosureTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ContingentLiabilitiesAbstract" name="ContingentLiabilitiesAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable" name="ConvertibleDebtLineOfCreditAndOtherNotesPayable" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock" name="ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_CostsAndExpensesBeforeInterestTotal" name="CostsAndExpensesBeforeInterestTotal" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_CountryClubPlazaMember" name="CountryClubPlazaMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_DanburyFairMallMortgageMember" name="DanburyFairMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_DeferredCostsAndOtherAssetsGross" name="DeferredCostsAndOtherAssetsGross" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_DeferredCostsAndOtherAssetsNet" name="DeferredCostsAndOtherAssetsNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="mac_DeptfordMallMember" name="DeptfordMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_DeptfordMallMortgageOneMember" name="DeptfordMallMortgageOneMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_DeptfordMallMortgageTwoMember" name="DeptfordMallMortgageTwoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_DevelopmentAndLeasingFeesRevenue" name="DevelopmentAndLeasingFeesRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther" name="DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_DistributionsToCoVenturePartner" name="DistributionsToCoVenturePartner" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_DocumentAndEntityInformationAbstract" name="DocumentAndEntityInformationAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity" name="EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentNotesPayableRelatedParty" name="EquityMethodInvestmentNotesPayableRelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" name="EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" name="EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests" name="EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" name="EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" name="EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty" name="EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" name="EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" name="EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" name="EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" name="EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" name="EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" name="EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet" name="EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt" name="EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" name="EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentsNet" name="EquityMethodInvestmentsNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" name="EquityMethodInvestmentsPercentageOfOwnershipInterestSold" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock" name="EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock" name="EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FashionOutletsAtNiagaraMortgageMember" name="FashionOutletsAtNiagaraMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FashionOutletsOfChicagoMember" name="FashionOutletsOfChicagoMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FashionOutletsOfChicagoMortgageMember" name="FashionOutletsOfChicagoMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_FiniteLivedIntangibleAssetAboveMarketLeases" name="FiniteLivedIntangibleAssetAboveMarketLeases" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts" name="FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="mac_FlagstaffMallMortgageMember" name="FlagstaffMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FlatIronCrossingMember" name="FlatIronCrossingMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FlatIronCrossingMortgageMember" name="FlatIronCrossingMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FreeholdRacewayMallAndChandlerFashionCenterMember" name="FreeholdRacewayMallAndChandlerFashionCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FreeholdRacewayMallMember" name="FreeholdRacewayMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_FreeholdRacewayMallMortgageMember" name="FreeholdRacewayMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_GainLossOnLandSales" name="GainLossOnLandSales" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_GainLossonSaleorWriteDownofAssets" name="GainLossonSaleorWriteDownofAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_GainsLossesonExtinguishmentofDebtIncludingPenalties" name="GainsLossesonExtinguishmentofDebtIncludingPenalties" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_GreatNorthernMallMember" name="GreatNorthernMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_GreatNorthernMallMortgageMember" name="GreatNorthernMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_GreenAcresMallMortgageMember" name="GreenAcresMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_GuaranteeObligationsExposureIndemnifiedByThirdParty" name="GuaranteeObligationsExposureIndemnifiedByThirdParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="instant" />
  <xsd:element id="mac_IncomeLossFromCoventureOperations" name="IncomeLossFromCoventureOperations" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_InlandCenterMember" name="InlandCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_InterestExpensePayableRelatedParty" name="InterestExpensePayableRelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_InvestmentsInUnconsolidatedJointVentures" name="InvestmentsInUnconsolidatedJointVentures" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_JointVentureOwnershipPercentagePurchased" name="JointVentureOwnershipPercentagePurchased" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_JointVentureOwnershipPercentageSold" name="JointVentureOwnershipPercentageSold" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_KingsPlazaMortgageMember" name="KingsPlazaMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_LakewoodCenterMember" name="LakewoodCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_LongTermIncentivePlanMember" name="LongTermIncentivePlanMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_LosCerritosCenterMember" name="LosCerritosCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_LossonSaleorWriteDownofAssets" name="LossonSaleorWriteDownofAssets" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_MACHeitmanPortfolioMember" name="MACHeitmanPortfolioMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_MallOfVictorValleyMortgageMember" name="MallOfVictorValleyMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ManagementDevelopmentAndLeasingFeesRevenue" name="ManagementDevelopmentAndLeasingFeesRevenue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_ManagementFeesAndOtherRevenues" name="ManagementFeesAndOtherRevenues" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_MaximumAggregateCommonStockOfferPrice" name="MaximumAggregateCommonStockOfferPrice" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_MinorityInterestRedemptionValue" name="MinorityInterestRedemptionValue" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays" name="MinorityInterestRedemptionValueBasisNumberOfTradingDays" nillable="true" substitutionGroup="xbrli:item" type="xbrli:durationItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_MortgageNotesPayableAbstract" name="MortgageNotesPayableAbstract" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_MortgageNotesPayableProbableRecourseAmount" name="MortgageNotesPayableProbableRecourseAmount" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element id="mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted" name="NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="duration" />
  <xsd:element id="mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture" name="NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_NorthwesternMutualLifeMember" name="NorthwesternMutualLifeMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_NoteReceivable1Member" name="NoteReceivable1Member" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_NotesReceivableInterestRate" name="NotesReceivableInterestRate" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element id="mac_NumberOfDividendsDeclared" name="NumberOfDividendsDeclared" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_NumberOfRealEstateManagementCompanies" name="NumberOfRealEstateManagementCompanies" nillable="true" substitutionGroup="xbrli:item" type="xbrli:integerItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_OtherJointVenturesMember" name="OtherJointVenturesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PPRPortfolioMember" name="PPRPortfolioMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PacificPremierRetailLLCMember" name="PacificPremierRetailLLCMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PacificPremierRetailLPMember" name="PacificPremierRetailLPMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PacificViewMortgageMember" name="PacificViewMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PanoramaMallMember" name="PanoramaMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PartnershipUnitsMember" name="PartnershipUnitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_PercentageOfCommissionToSalesAgent" name="PercentageOfCommissionToSalesAgent" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="instant" />
  <xsd:element id="mac_PercentageOfLoanAssumedByThirdParty" name="PercentageOfLoanAssumedByThirdParty" nillable="true" substitutionGroup="xbrli:item" type="num:percentItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PrasadaNoteMember" name="PrasadaNoteMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_PreferredNonparticipatingConvertibleUnitsMember" name="PreferredNonparticipatingConvertibleUnitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet" name="ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_ProceedsfromDivestitureofBusinessAssumptionofDebt" name="ProceedsfromDivestitureofBusinessAssumptionofDebt" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element id="mac_ProceedsfromDivestitureofBusinessCash" name="ProceedsfromDivestitureofBusinessCash" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_QueensCenterMember" name="QueensCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_RealEstateInvestmentPropertyNetMember" name="RealEstateInvestmentPropertyNetMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" name="RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_SanTanVillageRegionalCenterMortgageMember" name="SanTanVillageRegionalCenterMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_SantaMonicaPlaceMortgageMember" name="SantaMonicaPlaceMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock" name="ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ScheduleOfJointVenturesLineItems" name="ScheduleOfJointVenturesLineItems" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_ScheduleOfJointVenturesTable" name="ScheduleOfJointVenturesTable" nillable="true" substitutionGroup="xbrldt:hypercubeItem" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock" name="ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfMortgageNotesPayableTableTextBlock" name="ScheduleOfMortgageNotesPayableTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock" name="ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock" name="ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock" name="ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock" nillable="true" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_SearsLocationsMember" name="SearsLocationsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SecuredDebtNonrelatedParty" name="SecuredDebtNonrelatedParty" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="credit" xbrli:periodType="instant" />
  <xsd:element abstract="true" id="mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" nillable="true" substitutionGroup="xbrli:item" type="xbrli:stringItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate" name="SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate" nillable="true" substitutionGroup="xbrli:item" type="xbrli:pureItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment" name="SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue" name="SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment" name="SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment" nillable="true" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice" name="SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice" nillable="true" substitutionGroup="xbrli:item" type="num:perShareItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_SouthPlainsMallMember" name="SouthPlainsMallMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_StockAwardsMember" name="StockAwardsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_StockUnitsMember" name="StockUnitsMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_StonewoodCenterMortgageMember" name="StonewoodCenterMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_SuperstitionSpringsCenterMember" name="SuperstitionSpringsCenterMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TheMacerichPartnershipLPMember" name="TheMacerichPartnershipLPMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TheMallAtNorthgateMortgageMember" name="TheMallAtNorthgateMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TheOaksOneMortgageMember" name="TheOaksOneMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TowneMallMortgageMember" name="TowneMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TucsonLaEncantadaMortgageMember" name="TucsonLaEncantadaMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_TwentyNinthStreetMember" name="TwentyNinthStreetMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" name="UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_UnconsolidatedJointVenturesMember" name="UnconsolidatedJointVenturesMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" name="UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_VintageFaireMallMortgageMember" name="VintageFaireMallMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_WashingtonSquareMember" name="WashingtonSquareMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element abstract="true" id="mac_WestsidePavilionMortgageMember" name="WestsidePavilionMortgageMember" nillable="true" substitutionGroup="xbrli:item" type="nonnum:domainItemType" xbrli:periodType="duration" />
  <xsd:element id="mac_WriteOffOfDevelopmentCost" name="WriteOffOfDevelopmentCost" nillable="true" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" xbrli:balance="debit" xbrli:periodType="duration" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>mac-20160331_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <roleRef roleURI="http://www.macerich.com/role/Acquisitions" xlink:href="mac-20160331.xsd#Acquisitions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:href="mac-20160331.xsd#AcquisitionsAllocationOfFairValueDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:href="mac-20160331.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:href="mac-20160331.xsd#AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:href="mac-20160331.xsd#AcquisitionsRemeasurementGainDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsTables" xlink:href="mac-20160331.xsd#AcquisitionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangement" xlink:href="mac-20160331.xsd#CoVentureArrangement" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:href="mac-20160331.xsd#CoVentureArrangementDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:href="mac-20160331.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:href="mac-20160331.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquityParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Dispositions" xlink:href="mac-20160331.xsd#Dispositions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DispositionsDetails" xlink:href="mac-20160331.xsd#DispositionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:href="mac-20160331.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEps" xlink:href="mac-20160331.xsd#EarningsPerShareEps" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:href="mac-20160331.xsd#EarningsPerShareEpsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:href="mac-20160331.xsd#EarningsPerShareEpsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxes" xlink:href="mac-20160331.xsd#IncomeTaxes" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesDetails" xlink:href="mac-20160331.xsd#IncomeTaxesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesTables" xlink:href="mac-20160331.xsd#IncomeTaxesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVentures" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayable" xlink:href="mac-20160331.xsd#MortgageNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:href="mac-20160331.xsd#MortgageNotesPayableTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterests" xlink:href="mac-20160331.xsd#NoncontrollingInterests" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:href="mac-20160331.xsd#NoncontrollingInterestsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Organization" xlink:href="mac-20160331.xsd#Organization" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/OrganizationDetails" xlink:href="mac-20160331.xsd#OrganizationDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNet" xlink:href="mac-20160331.xsd#PropertyNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetDetails" xlink:href="mac-20160331.xsd#PropertyNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:href="mac-20160331.xsd#PropertyNetNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetTables" xlink:href="mac-20160331.xsd#PropertyNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactions" xlink:href="mac-20160331.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlans" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansSarsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquity" xlink:href="mac-20160331.xsd#StockholdersEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquityDetails" xlink:href="mac-20160331.xsd#StockholdersEquityDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEvents" xlink:href="mac-20160331.xsd#SubsequentEvents" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEventsDetails" xlink:href="mac-20160331.xsd#SubsequentEventsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNetDetails" xlink:type="simple" />
  <calculationLink xlink:role="http://www.macerich.com/role/Acquisitions" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_8e82af62-5d0c-8a44-003d-d4557b49ee76" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_550a9c15-e4b1-795c-7a39-59d2c2d7a235" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_8e82af62-5d0c-8a44-003d-d4557b49ee76" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_550a9c15-e4b1-795c-7a39-59d2c2d7a235" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_3f85320e-76ee-dda6-5fc3-6435383e60fc" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_550a9c15-e4b1-795c-7a39-59d2c2d7a235" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_3f85320e-76ee-dda6-5fc3-6435383e60fc" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_9cb29c2e-c1c2-ff9a-917e-64353851f2e9" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_550a9c15-e4b1-795c-7a39-59d2c2d7a235" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_9cb29c2e-c1c2-ff9a-917e-64353851f2e9" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_9191ab05-b8c2-3ee7-d854-643537397963" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_550a9c15-e4b1-795c-7a39-59d2c2d7a235" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_9191ab05-b8c2-3ee7-d854-643537397963" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c1c2a922-36ec-bc2b-c7e3-21ffbc176864" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_8e82af62-5d0c-8a44-003d-d4557b49ee76" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c1c2a922-36ec-bc2b-c7e3-21ffbc176864" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_bfe165f2-5cb4-941c-3dd2-6435370bdaf1" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c1c2a922-36ec-bc2b-c7e3-21ffbc176864" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_bfe165f2-5cb4-941c-3dd2-6435370bdaf1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_63c41de8-f1c0-6b20-29c8-ecd777939de3" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_c1c2a922-36ec-bc2b-c7e3-21ffbc176864" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_63c41de8-f1c0-6b20-29c8-ecd777939de3" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/AcquisitionsTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/CoVentureArrangement" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_ec42366e-8b80-44e6-ea7d-5273a5ceef71" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyNet_ec42366e-8b80-44e6-ea7d-5273a5ceef71" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_cd34decb-53b6-e0a9-28d5-0a9741c4b0f8" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_cd34decb-53b6-e0a9-28d5-0a9741c4b0f8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_05676487-dc23-faad-ff63-cd1ae2cdcbac" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_05676487-dc23-faad-ff63-cd1ae2cdcbac" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsAndNotesReceivableNet" xlink:label="loc_us-gaap_AccountsAndNotesReceivableNet_43597d97-a522-092c-4bb6-22b8eb04c6a9" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_AccountsAndNotesReceivableNet_43597d97-a522-092c-4bb6-22b8eb04c6a9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsAndOtherAssets" xlink:label="loc_us-gaap_DeferredCostsAndOtherAssets_63d2f8f7-6914-4f00-d8b6-8ff3b7cfb211" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_DeferredCostsAndOtherAssets_63d2f8f7-6914-4f00-d8b6-8ff3b7cfb211" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="loc_us-gaap_DueFromAffiliates_15ed8ee8-ea86-7845-949f-342f9b4ac9d7" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_DueFromAffiliates_15ed8ee8-ea86-7845-949f-342f9b4ac9d7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_92ff315d-8a43-54e7-6ab9-e3a23fd1788a" xlink:type="locator" />
    <calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_effc14df-fd72-eec8-ede9-64e0071b91bc" xlink:to="loc_us-gaap_EquityMethodInvestments_92ff315d-8a43-54e7-6ab9-e3a23fd1788a" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_4a314f0d-c6fa-5cf2-0be1-add747465af3" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4a314f0d-c6fa-5cf2-0be1-add747465af3" xlink:to="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_12ac9848-dd98-3032-5d73-98b97ce068c3" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_us-gaap_SecuredDebt_12ac9848-dd98-3032-5d73-98b97ce068c3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_ece36250-1659-21c3-a035-e0da009ce556" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SecuredDebt_12ac9848-dd98-3032-5d73-98b97ce068c3" xlink:to="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_ece36250-1659-21c3-a035-e0da009ce556" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_23c5bd01-6769-8186-13fd-6435364102eb" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_SecuredDebt_12ac9848-dd98-3032-5d73-98b97ce068c3" xlink:to="loc_mac_SecuredDebtNonrelatedParty_23c5bd01-6769-8186-13fd-6435364102eb" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable" xlink:label="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_987e511e-1f29-6bc5-3aac-643536a78ede" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_987e511e-1f29-6bc5-3aac-643536a78ede" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_fcd278b6-8e24-0a5d-971d-6bcafdcb6d74" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_fcd278b6-8e24-0a5d-971d-6bcafdcb6d74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_77be3967-2366-7494-a404-24392a58f9d8" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_77be3967-2366-7494-a404-24392a58f9d8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_92466133-1bbf-c0d1-6f2d-9ccf4281406b" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_92466133-1bbf-c0d1-6f2d-9ccf4281406b" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_45208b2d-adb0-0694-1f0f-6435374e2319" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_mac_InvestmentsInUnconsolidatedJointVentures_45208b2d-adb0-0694-1f0f-6435374e2319" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_us-gaap_DeferredGainOnSaleOfProperty_38a81e14-9603-cbf0-93bb-944d4684b5c9" xlink:type="locator" />
    <calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_4e70462c-e5f6-e2d9-0cf5-7f1332ddbc05" xlink:to="loc_us-gaap_DeferredGainOnSaleOfProperty_38a81e14-9603-cbf0-93bb-944d4684b5c9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_53d4115f-c3d1-6e9c-3f23-fd144b27061e" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4a314f0d-c6fa-5cf2-0be1-add747465af3" xlink:to="loc_us-gaap_CommitmentsAndContingencies_53d4115f-c3d1-6e9c-3f23-fd144b27061e" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_9a5c5aff-ee63-a4f2-571a-3515b5d26a3b" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_4a314f0d-c6fa-5cf2-0be1-add747465af3" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_9a5c5aff-ee63-a4f2-571a-3515b5d26a3b" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_d0f349aa-18e3-6323-86ad-665f8773c064" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_9a5c5aff-ee63-a4f2-571a-3515b5d26a3b" xlink:to="loc_us-gaap_StockholdersEquity_d0f349aa-18e3-6323-86ad-665f8773c064" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_ce40a301-9b6b-9fc3-bfb6-dfbb8fcdf29b" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d0f349aa-18e3-6323-86ad-665f8773c064" xlink:to="loc_us-gaap_CommonStockValue_ce40a301-9b6b-9fc3-bfb6-dfbb8fcdf29b" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_8d1ec446-d346-e57d-d34b-0cb90bceaaba" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d0f349aa-18e3-6323-86ad-665f8773c064" xlink:to="loc_us-gaap_AdditionalPaidInCapitalCommonStock_8d1ec446-d346-e57d-d34b-0cb90bceaaba" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_1d565cd0-d7bf-de89-4dbe-a484007b1fe8" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_d0f349aa-18e3-6323-86ad-665f8773c064" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_1d565cd0-d7bf-de89-4dbe-a484007b1fe8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_be52b263-dda5-21e0-250c-b71c8efa5893" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_9a5c5aff-ee63-a4f2-571a-3515b5d26a3b" xlink:to="loc_us-gaap_MinorityInterest_be52b263-dda5-21e0-250c-b71c8efa5893" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_ff5db18e-7b91-5a5d-e914-0527b02a8012" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_ff5db18e-7b91-5a5d-e914-0527b02a8012" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_579a2a05-20b3-ca98-9d6b-7595046298be" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_579a2a05-20b3-ca98-9d6b-7595046298be" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_ed275884-8c4e-c3d3-0a43-6435364e3d4f" xlink:type="locator" />
    <calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_ed275884-8c4e-c3d3-0a43-6435364e3d4f" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset" xlink:label="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_c0f19b13-a064-8535-dc65-75136222319d" xlink:type="locator" />
    <calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_c0f19b13-a064-8535-dc65-75136222319d" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_783b94c5-664a-4bc7-f813-8c258cc934b7" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_783b94c5-664a-4bc7-f813-8c258cc934b7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="loc_us-gaap_AmortizationOfDebtDiscountPremium_dfec2b16-4a43-7264-ec3d-010772e15534" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_AmortizationOfDebtDiscountPremium_dfec2b16-4a43-7264-ec3d-010772e15534" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_d4c99b59-c44a-c4ac-309f-0bddfdb944a5" xlink:type="locator" />
    <calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_ShareBasedCompensation_d4c99b59-c44a-c4ac-309f-0bddfdb944a5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StraightLineRentAdjustments" xlink:label="loc_us-gaap_StraightLineRentAdjustments_e8ca0140-6a65-ce06-ed56-654e8e8a5283" xlink:type="locator" />
    <calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_StraightLineRentAdjustments_e8ca0140-6a65-ce06-ed56-654e8e8a5283" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:label="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_b83cf226-3653-ee57-b9d7-2def8e8b92db" xlink:type="locator" />
    <calculationArc order="9" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_b83cf226-3653-ee57-b9d7-2def8e8b92db" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts_030f5c40-af7e-2a00-2417-01509e80b7e6" xlink:type="locator" />
    <calculationArc order="10" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_ProvisionForDoubtfulAccounts_030f5c40-af7e-2a00-2417-01509e80b7e6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:type="locator" />
    <calculationArc order="11" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_b71b86f8-adb0-6f61-c3a9-37e1e67b4d68" xlink:type="locator" />
    <calculationArc order="12" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_b71b86f8-adb0-6f61-c3a9-37e1e67b4d68" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_0e5a2a64-8b1d-dac0-216b-5578fd3b85d8" xlink:type="locator" />
    <calculationArc order="13" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_0e5a2a64-8b1d-dac0-216b-5578fd3b85d8" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_b2cd108b-5ef4-fe87-5afb-643536e2c334" xlink:type="locator" />
    <calculationArc order="14" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_mac_IncomeLossFromCoventureOperations_b2cd108b-5ef4-fe87-5afb-643536e2c334" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_91d80b53-6368-7466-a11d-02030d33de5c" xlink:type="locator" />
    <calculationArc order="15" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_91d80b53-6368-7466-a11d-02030d33de5c" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_6726a997-b874-a6f6-d79f-e0a4bde49905" xlink:type="locator" />
    <calculationArc order="16" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_6726a997-b874-a6f6-d79f-e0a4bde49905" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseDueFromAffiliates" xlink:label="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_8e798888-858d-8a37-40a4-05a8f8bbeed7" xlink:type="locator" />
    <calculationArc order="17" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_8e798888-858d-8a37-40a4-05a8f8bbeed7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_560659f4-b0e9-f2a5-9b69-760dcc1a16c4" xlink:type="locator" />
    <calculationArc order="18" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_560659f4-b0e9-f2a5-9b69-760dcc1a16c4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_156d92e6-8151-e554-41f2-ab0419253719" xlink:type="locator" />
    <calculationArc order="19" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_916e1eb7-21fa-e5f0-a15f-0b05ed633776" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_156d92e6-8151-e554-41f2-ab0419253719" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_ff5db18e-7b91-5a5d-e914-0527b02a8012" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate_761581e1-079a-10fa-1931-c813e10b8a24" xlink:type="locator" />
    <calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_PaymentsToAcquireRealEstate_761581e1-079a-10fa-1931-c813e10b8a24" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireAndDevelopRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_e9ed89b3-1b16-9d59-06e4-46376515c374" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_e9ed89b3-1b16-9d59-06e4-46376515c374" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets_b423a792-3e12-c298-2d03-8c3031a826b2" xlink:type="locator" />
    <calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_PaymentsToDevelopRealEstateAssets_b423a792-3e12-c298-2d03-8c3031a826b2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:label="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_b40b933a-f34c-d644-f5ff-488cb6ae1a5d" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_b40b933a-f34c-d644-f5ff-488cb6ae1a5d" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_57344adb-616b-9835-64f6-e4db88be289b" xlink:type="locator" />
    <calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_57344adb-616b-9835-64f6-e4db88be289b" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther" xlink:label="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_d75257ec-a588-a84a-9056-643537111c66" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_d75257ec-a588-a84a-9056-643537111c66" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireInterestInJointVenture" xlink:label="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_e673014c-0893-78f4-b054-c34e0e9c2e35" xlink:type="locator" />
    <calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_e673014c-0893-78f4-b054-c34e0e9c2e35" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet" xlink:label="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_fc028a1e-61c1-ebce-e95c-643538880f83" xlink:type="locator" />
    <calculationArc order="8" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_fc028a1e-61c1-ebce-e95c-643538880f83" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCash_8c9d9d5e-0593-ae0e-95c3-bce133b31671" xlink:type="locator" />
    <calculationArc order="9" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_58a5bd26-e5f4-de8f-6118-f713733148b8" xlink:to="loc_us-gaap_IncreaseDecreaseInRestrictedCash_8c9d9d5e-0593-ae0e-95c3-bce133b31671" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_ff5db18e-7b91-5a5d-e914-0527b02a8012" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_679d709f-ed6a-34c0-e9f8-2892dd579105" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_679d709f-ed6a-34c0-e9f8-2892dd579105" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_916c0ad8-4410-ac61-854a-bcef2cfe3ffc" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_916c0ad8-4410-ac61-854a-bcef2cfe3ffc" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts_b6c5edb8-6ac9-5f6a-0029-e36b04d343fe" xlink:type="locator" />
    <calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_PaymentsOfFinancingCosts_b6c5edb8-6ac9-5f6a-0029-e36b04d343fe" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_3ae827d8-ec87-3579-cdaf-badc9bda2267" xlink:type="locator" />
    <calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_PaymentsOfStockIssuanceCosts_3ae827d8-ec87-3579-cdaf-badc9bda2267" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_4c2e87e5-41d0-b35b-6dfd-e3ab5b253709" xlink:type="locator" />
    <calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_4c2e87e5-41d0-b35b-6dfd-e3ab5b253709" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_1eb8ffe6-c107-0f34-5465-e2ce511714de" xlink:type="locator" />
    <calculationArc order="6" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_PaymentsToMinorityShareholders_1eb8ffe6-c107-0f34-5465-e2ce511714de" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_b07c9b5a-c776-a7f8-0b34-5abf7f1d31cd" xlink:type="locator" />
    <calculationArc order="7" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_us-gaap_PaymentsOfDividendsCommonStock_b07c9b5a-c776-a7f8-0b34-5abf7f1d31cd" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DistributionsToCoVenturePartner" xlink:label="loc_mac_DistributionsToCoVenturePartner_31c0328f-4fef-361e-7a25-64353892223c" xlink:type="locator" />
    <calculationArc order="8" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_a678c20d-a481-ef6a-800a-4bd566075d81" xlink:to="loc_mac_DistributionsToCoVenturePartner_31c0328f-4fef-361e-7a25-64353892223c" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_a8aff2a0-5170-c273-e6ae-b3a075237f59" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_a8aff2a0-5170-c273-e6ae-b3a075237f59" xlink:to="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_8bd28cf2-6565-7c1c-c350-0d466bcdf417" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:to="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_8bd28cf2-6565-7c1c-c350-0d466bcdf417" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PercentageRent" xlink:label="loc_us-gaap_PercentageRent_490795a9-a4f7-a613-f4fa-a10e397af224" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:to="loc_us-gaap_PercentageRent_490795a9-a4f7-a613-f4fa-a10e397af224" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantReimbursements" xlink:label="loc_us-gaap_TenantReimbursements_12557a01-6b5d-584a-a038-32df673e15ad" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:to="loc_us-gaap_TenantReimbursements_12557a01-6b5d-584a-a038-32df673e15ad" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ManagementFeesAndOtherRevenues" xlink:label="loc_mac_ManagementFeesAndOtherRevenues_20dc7746-0e52-152a-19e0-643537d2a371" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:to="loc_mac_ManagementFeesAndOtherRevenues_20dc7746-0e52-152a-19e0-643537d2a371" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncome" xlink:label="loc_us-gaap_OtherIncome_476ebd77-c25d-e84b-ebde-5a5c1e7a8b99" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_ba59260a-e348-d7f8-5375-fde11baf79c1" xlink:to="loc_us-gaap_OtherIncome_476ebd77-c25d-e84b-ebde-5a5c1e7a8b99" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_us-gaap_CostsAndExpenses_8281466b-86c7-ec9c-c7fc-3723705ba526" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_us-gaap_CostsAndExpenses_8281466b-86c7-ec9c-c7fc-3723705ba526" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CostsAndExpensesBeforeInterestTotal" xlink:label="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_8281466b-86c7-ec9c-c7fc-3723705ba526" xlink:to="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfRealEstateRevenue" xlink:label="loc_us-gaap_CostOfRealEstateRevenue_379e2d55-10b2-384d-4060-565e7b6f9699" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:to="loc_us-gaap_CostOfRealEstateRevenue_379e2d55-10b2-384d-4060-565e7b6f9699" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OwnedPropertyManagementCosts" xlink:label="loc_us-gaap_OwnedPropertyManagementCosts_83017a93-771c-7d80-398d-d36b34f4595a" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:to="loc_us-gaap_OwnedPropertyManagementCosts_83017a93-771c-7d80-398d-d36b34f4595a" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_69f193f1-2583-2a25-604c-cc949229c2d8" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_69f193f1-2583-2a25-604c-cc949229c2d8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnsolicitedTenderOfferCosts" xlink:label="loc_us-gaap_UnsolicitedTenderOfferCosts_a2f4e667-153e-828f-3b27-414642fd4b9b" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:to="loc_us-gaap_UnsolicitedTenderOfferCosts_a2f4e667-153e-828f-3b27-414642fd4b9b" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_eacd1e25-d59d-a3b6-a15a-f5d867179d3e" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_79e2978d-37ed-caaf-c766-64353620396b" xlink:to="loc_us-gaap_DepreciationAndAmortization_eacd1e25-d59d-a3b6-a15a-f5d867179d3e" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_8d3aa4ad-dbea-9eba-4578-5d3b83ba3bc6" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_8281466b-86c7-ec9c-c7fc-3723705ba526" xlink:to="loc_us-gaap_InterestExpense_8d3aa4ad-dbea-9eba-4578-5d3b83ba3bc6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_b72ce654-a22a-a6d0-e1ef-52d1c6541d4a" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_8d3aa4ad-dbea-9eba-4578-5d3b83ba3bc6" xlink:to="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_b72ce654-a22a-a6d0-e1ef-52d1c6541d4a" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseOther" xlink:label="loc_us-gaap_InterestExpenseOther_56d61b6a-d585-8542-f8ba-3d3143e353ff" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_InterestExpense_8d3aa4ad-dbea-9eba-4578-5d3b83ba3bc6" xlink:to="loc_us-gaap_InterestExpenseOther_56d61b6a-d585-8542-f8ba-3d3143e353ff" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainsLossesonExtinguishmentofDebtIncludingPenalties" xlink:label="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_66974480-d555-4e57-ba8a-6435388d50b5" xlink:type="locator" />
    <calculationArc order="3" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_8281466b-86c7-ec9c-c7fc-3723705ba526" xlink:to="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_66974480-d555-4e57-ba8a-6435388d50b5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_b71b86f8-adb0-6f61-c3a9-37e1e67b4d68" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_b71b86f8-adb0-6f61-c3a9-37e1e67b4d68" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_b2cd108b-5ef4-fe87-5afb-643536e2c334" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_mac_IncomeLossFromCoventureOperations_b2cd108b-5ef4-fe87-5afb-643536e2c334" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:type="locator" />
    <calculationArc order="5" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_ed275884-8c4e-c3d3-0a43-6435364e3d4f" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_ed275884-8c4e-c3d3-0a43-6435364e3d4f" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_ae0fd99c-1409-ff32-ab7b-492164a06980" xlink:type="locator" />
    <calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_5f8983ec-dfa4-10d0-f53d-c0676300a16f" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_ae0fd99c-1409-ff32-ab7b-492164a06980" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6e1329dd-9911-a537-956e-8ca9c6805be6" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_a8aff2a0-5170-c273-e6ae-b3a075237f59" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_6e1329dd-9911-a537-956e-8ca9c6805be6" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_d1f67248-e9b5-f4cc-7b0f-6057f1a3d17a" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseGross" xlink:label="loc_us-gaap_BelowMarketLeaseGross_4618dca4-f6fa-b419-f580-461aa8af8ecd" xlink:type="locator" />
    <calculationArc order="1" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_d1f67248-e9b5-f4cc-7b0f-6057f1a3d17a" xlink:to="loc_us-gaap_BelowMarketLeaseGross_4618dca4-f6fa-b419-f580-461aa8af8ecd" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_78bcbddd-9063-e8db-fa52-4fab6072b547" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_d1f67248-e9b5-f4cc-7b0f-6057f1a3d17a" xlink:to="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_78bcbddd-9063-e8db-fa52-4fab6072b547" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0b66a991-68b5-43d2-3cb3-4ea68bba2b7e" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_d1f67248-e9b5-f4cc-7b0f-6057f1a3d17a" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_0b66a991-68b5-43d2-3cb3-4ea68bba2b7e" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5fad788a-33b8-6ace-c3c4-7d91cd9f63e4" xlink:type="locator" />
    <calculationArc order="4" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_d1f67248-e9b5-f4cc-7b0f-6057f1a3d17a" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_5fad788a-33b8-6ace-c3c4-7d91cd9f63e4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="loc_us-gaap_BelowMarketLeaseNet_ddcf10f6-28cd-5b00-a562-de1725934c87" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BelowMarketLeaseNet_ddcf10f6-28cd-5b00-a562-de1725934c87" xlink:to="loc_us-gaap_BelowMarketLeaseGross_4618dca4-f6fa-b419-f580-461aa8af8ecd" xlink:type="arc" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_BelowMarketLeaseNet_ddcf10f6-28cd-5b00-a562-de1725934c87" xlink:to="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_78bcbddd-9063-e8db-fa52-4fab6072b547" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsNet" xlink:label="loc_mac_DeferredCostsAndOtherAssetsNet_30ad3df1-2845-8465-d262-6435365d7b9a" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsGross" xlink:label="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsNet_30ad3df1-2845-8465-d262-6435365d7b9a" xlink:to="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsLeasingGross" xlink:label="loc_us-gaap_DeferredCostsLeasingGross_83dc534a-8d07-b0b6-656c-99aa5c9c85ea" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_us-gaap_DeferredCostsLeasingGross_83dc534a-8d07-b0b6-656c-99aa5c9c85ea" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_0b500345-21c8-b0dc-1e70-7fe734fb27a3" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_0b500345-21c8-b0dc-1e70-7fe734fb27a3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts" xlink:label="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_f38e1fe3-ac02-fc91-dc43-643537fbdd40" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_f38e1fe3-ac02-fc91-dc43-643537fbdd40" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetAboveMarketLeases" xlink:label="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4928153b-d2d5-b8e3-b7d7-6435365cb18b" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4928153b-d2d5-b8e3-b7d7-6435365cb18b" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_7ab95885-50a1-f3b5-4737-49b616fc51d6" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_7ab95885-50a1-f3b5-4737-49b616fc51d6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCompensationPlanAssets" xlink:label="loc_us-gaap_DeferredCompensationPlanAssets_d2f9db3a-3b1a-f724-cf76-3e718eb610dc" xlink:type="locator" />
    <calculationArc order="6" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_us-gaap_DeferredCompensationPlanAssets_d2f9db3a-3b1a-f724-cf76-3e718eb610dc" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMiscellaneous" xlink:label="loc_us-gaap_OtherAssetsMiscellaneous_16165799-9992-9602-68bb-1ef467695da9" xlink:type="locator" />
    <calculationArc order="7" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_d29ceda4-7ccf-faaa-5801-64353858454d" xlink:to="loc_us-gaap_OtherAssetsMiscellaneous_16165799-9992-9602-68bb-1ef467695da9" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets" xlink:label="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_f471c64f-0a76-6e37-1bde-64353830f261" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_DeferredCostsAndOtherAssetsNet_30ad3df1-2845-8465-d262-6435365d7b9a" xlink:to="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_f471c64f-0a76-6e37-1bde-64353830f261" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/Dispositions" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/DispositionsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEps" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_ca9bebe4-4073-b721-7b75-1a0086593d58" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_8afbf9ec-40f2-ac04-dde9-64f96fdfbf74" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_ca9bebe4-4073-b721-7b75-1a0086593d58" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_8afbf9ec-40f2-ac04-dde9-64f96fdfbf74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_0449447d-2475-b5e7-892e-ced6d0229840" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_ca9bebe4-4073-b721-7b75-1a0086593d58" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_0449447d-2475-b5e7-892e-ced6d0229840" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_b6a19add-4cd2-b796-d759-64353669ae21" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_a8aff2a0-5170-c273-e6ae-b3a075237f59" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_b6a19add-4cd2-b796-d759-64353669ae21" xlink:to="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_a8aff2a0-5170-c273-e6ae-b3a075237f59" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_6b8d9deb-b76b-1285-f969-643536e90d49" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_b6a19add-4cd2-b796-d759-64353669ae21" xlink:to="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_6b8d9deb-b76b-1285-f969-643536e90d49" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/IncomeTaxes" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/IncomeTaxesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_34234baa-d101-3f73-2c90-9ccf83248ac9" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_34234baa-d101-3f73-2c90-9ccf83248ac9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_8b437d2d-6bbf-1f71-a341-6d3ac2b36703" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_b8dcf191-083d-828d-7b9f-e2d2969b89f4" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_8b437d2d-6bbf-1f71-a341-6d3ac2b36703" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/IncomeTaxesTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_28604d1e-adba-5c21-1846-8ba791c4b6ca" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_8e2c40cb-0fed-011e-0116-643536561f17" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_28604d1e-adba-5c21-1846-8ba791c4b6ca" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_8e2c40cb-0fed-011e-0116-643536561f17" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_f780dbf0-4e1f-25e1-000e-6435362c3297" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_28604d1e-adba-5c21-1846-8ba791c4b6ca" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_f780dbf0-4e1f-25e1-000e-6435362c3297" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_ad9ee011-1324-a8e5-1520-69c7aa1325f4" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_28604d1e-adba-5c21-1846-8ba791c4b6ca" xlink:to="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_ad9ee011-1324-a8e5-1520-69c7aa1325f4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_0040b038-0d20-1005-5215-64353692c769" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_28604d1e-adba-5c21-1846-8ba791c4b6ca" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_0040b038-0d20-1005-5215-64353692c769" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsNet" xlink:label="loc_mac_EquityMethodInvestmentsNet_20946890-f744-e4dd-0de7-6435387cf0a9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_92ff315d-8a43-54e7-6ab9-e3a23fd1788a" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_EquityMethodInvestmentsNet_20946890-f744-e4dd-0de7-6435387cf0a9" xlink:to="loc_us-gaap_EquityMethodInvestments_92ff315d-8a43-54e7-6ab9-e3a23fd1788a" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_45208b2d-adb0-0694-1f0f-6435374e2319" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_EquityMethodInvestmentsNet_20946890-f744-e4dd-0de7-6435387cf0a9" xlink:to="loc_mac_InvestmentsInUnconsolidatedJointVentures_45208b2d-adb0-0694-1f0f-6435374e2319" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_498bb715-0c25-1044-f6ef-180843ce922c" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_a0b56271-560c-988e-3f37-6435386bdd44" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_498bb715-0c25-1044-f6ef-180843ce922c" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_a0b56271-560c-988e-3f37-6435386bdd44" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_c23764bb-70e9-5cd2-d2a8-6435387e6853" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_498bb715-0c25-1044-f6ef-180843ce922c" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_c23764bb-70e9-5cd2-d2a8-6435387e6853" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_2d313bac-cfce-aa9b-6561-eb39ae1ab9b2" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_2d313bac-cfce-aa9b-6561-eb39ae1ab9b2" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_451aaf21-18be-aa21-166c-64353663952c" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_451aaf21-18be-aa21-166c-64353663952c" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_3a117444-b0b9-c9d0-7ce4-6435367d6f7d" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_3a117444-b0b9-c9d0-7ce4-6435367d6f7d" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_3b2a7af7-65c3-4958-e63f-6435377ce76a" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_3b2a7af7-65c3-4958-e63f-6435377ce76a" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_cf42c555-abf6-0966-a586-643537cb7540" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_32a3ac67-331c-13c4-de99-2c620e93a71d" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_cf42c555-abf6-0966-a586-643537cb7540" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_a9d81618-6211-d7a5-ee7b-643536a6c7f2" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_2d313bac-cfce-aa9b-6561-eb39ae1ab9b2" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_a9d81618-6211-d7a5-ee7b-643536a6c7f2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_67131728-92c4-54cf-5498-64353868d2b6" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_a9d81618-6211-d7a5-ee7b-643536a6c7f2" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_67131728-92c4-54cf-5498-64353868d2b6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_f6e8df53-dd0d-03b5-a113-6435385dea6d" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_a9d81618-6211-d7a5-ee7b-643536a6c7f2" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_f6e8df53-dd0d-03b5-a113-6435385dea6d" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_ccf88cf7-da6f-d28d-983d-64353883fc62" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_a9d81618-6211-d7a5-ee7b-643536a6c7f2" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_ccf88cf7-da6f-d28d-983d-64353883fc62" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_14929ae8-b7f1-5cd5-2eab-64353823168e" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_2d313bac-cfce-aa9b-6561-eb39ae1ab9b2" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_14929ae8-b7f1-5cd5-2eab-64353823168e" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayable" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/NoncontrollingInterests" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/Organization" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/OrganizationDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/PropertyNet" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/PropertyNetDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_ec42366e-8b80-44e6-ea7d-5273a5ceef71" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_ec42366e-8b80-44e6-ea7d-5273a5ceef71" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Land" xlink:label="loc_us-gaap_Land_5f113b74-55d3-328d-c134-0ba25c366a34" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:to="loc_us-gaap_Land_5f113b74-55d3-328d-c134-0ba25c366a34" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_8eb88550-cace-2a64-699b-014260e40f65" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:to="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_8eb88550-cace-2a64-699b-014260e40f65" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantImprovements" xlink:label="loc_us-gaap_TenantImprovements_45ee3a71-dca8-5284-847f-907126b95b40" xlink:type="locator" />
    <calculationArc order="3" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:to="loc_us-gaap_TenantImprovements_45ee3a71-dca8-5284-847f-907126b95b40" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FixturesAndEquipmentGross" xlink:label="loc_us-gaap_FixturesAndEquipmentGross_4ae5084a-bf4d-0d26-a3eb-7b4fa27e8655" xlink:type="locator" />
    <calculationArc order="4" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:to="loc_us-gaap_FixturesAndEquipmentGross_4ae5084a-bf4d-0d26-a3eb-7b4fa27e8655" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="loc_us-gaap_DevelopmentInProcess_3dd40b65-5dbb-a769-79ed-b0e99fcee079" xlink:type="locator" />
    <calculationArc order="5" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_6a4551ee-1959-9453-3919-b144a7ade78f" xlink:to="loc_us-gaap_DevelopmentInProcess_3dd40b65-5dbb-a769-79ed-b0e99fcee079" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_7a2f9345-f54b-7356-28b6-cc6254629306" xlink:type="locator" />
    <calculationArc order="2" weight="-1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_ec42366e-8b80-44e6-ea7d-5273a5ceef71" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_7a2f9345-f54b-7356-28b6-cc6254629306" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/PropertyNetTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactions" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_ManagementDevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_372e620b-441b-0627-c3c4-64353875b01f" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_884eb178-30ed-f8c8-0abd-3ef38a6b71f6" xlink:type="locator" />
    <calculationArc order="1" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_372e620b-441b-0627-c3c4-64353875b01f" xlink:to="loc_us-gaap_ManagementFeesRevenue_884eb178-30ed-f8c8-0abd-3ef38a6b71f6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_DevelopmentAndLeasingFeesRevenue_71934964-3806-4fb8-85dd-6435387ff20a" xlink:type="locator" />
    <calculationArc order="2" weight="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_372e620b-441b-0627-c3c4-64353875b01f" xlink:to="loc_mac_DevelopmentAndLeasingFeesRevenue_71934964-3806-4fb8-85dd-6435387ff20a" xlink:type="arc" />
  </calculationLink>
  <calculationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/StockholdersEquity" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/StockholdersEquityDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SubsequentEvents" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SubsequentEventsDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:type="extended" />
  <calculationLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:type="extended" />
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>10
<FILENAME>mac-20160331_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <roleRef roleURI="http://www.macerich.com/role/Acquisitions" xlink:href="mac-20160331.xsd#Acquisitions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:href="mac-20160331.xsd#AcquisitionsAllocationOfFairValueDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:href="mac-20160331.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:href="mac-20160331.xsd#AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:href="mac-20160331.xsd#AcquisitionsRemeasurementGainDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsTables" xlink:href="mac-20160331.xsd#AcquisitionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangement" xlink:href="mac-20160331.xsd#CoVentureArrangement" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:href="mac-20160331.xsd#CoVentureArrangementDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:href="mac-20160331.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:href="mac-20160331.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquityParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Dispositions" xlink:href="mac-20160331.xsd#Dispositions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DispositionsDetails" xlink:href="mac-20160331.xsd#DispositionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:href="mac-20160331.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEps" xlink:href="mac-20160331.xsd#EarningsPerShareEps" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:href="mac-20160331.xsd#EarningsPerShareEpsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:href="mac-20160331.xsd#EarningsPerShareEpsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxes" xlink:href="mac-20160331.xsd#IncomeTaxes" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesDetails" xlink:href="mac-20160331.xsd#IncomeTaxesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesTables" xlink:href="mac-20160331.xsd#IncomeTaxesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVentures" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayable" xlink:href="mac-20160331.xsd#MortgageNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:href="mac-20160331.xsd#MortgageNotesPayableTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterests" xlink:href="mac-20160331.xsd#NoncontrollingInterests" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:href="mac-20160331.xsd#NoncontrollingInterestsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Organization" xlink:href="mac-20160331.xsd#Organization" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/OrganizationDetails" xlink:href="mac-20160331.xsd#OrganizationDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNet" xlink:href="mac-20160331.xsd#PropertyNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetDetails" xlink:href="mac-20160331.xsd#PropertyNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:href="mac-20160331.xsd#PropertyNetNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetTables" xlink:href="mac-20160331.xsd#PropertyNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactions" xlink:href="mac-20160331.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlans" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansSarsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquity" xlink:href="mac-20160331.xsd#StockholdersEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquityDetails" xlink:href="mac-20160331.xsd#StockholdersEquityDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEvents" xlink:href="mac-20160331.xsd#SubsequentEvents" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEventsDetails" xlink:href="mac-20160331.xsd#SubsequentEventsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNetDetails" xlink:type="simple" />
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/all" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" xlink:type="simple" />
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" xlink:type="simple" />
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" xlink:type="simple" />
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" xlink:type="simple" />
  <arcroleRef arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" xlink:type="simple" />
  <definitionLink xlink:role="http://www.macerich.com/role/Acquisitions" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_096E7A192DD31CF9F5CA641DCE00BB2F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:to="loc_mac_InlandCenterMember_096E7A192DD31CF9F5CA641DCE00BB2F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:to="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMember" xlink:label="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:to="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:to="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:to="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:to="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcquisitionNoncontrollingInterestAdjustment" xlink:label="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" xlink:label="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_D2C87019E63AA8007DE47889AE1FC0FE" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:to="loc_mac_InlandCenterMember_D2C87019E63AA8007DE47889AE1FC0FE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F2EE136B82F59559ACD47889AE1F0A89" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F2EE136B82F59559ACD47889AE1F0A89" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_AB34C41C1CAADB4DA24D7889AE207CC1" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_AB34C41C1CAADB4DA24D7889AE207CC1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_03E322CA4395B498CADE7889AE20C70A" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_03E322CA4395B498CADE7889AE20C70A" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_F236F3D5622452F9B1177889AE26B6EA" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:to="loc_mac_InlandCenterMember_F236F3D5622452F9B1177889AE26B6EA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/AcquisitionsTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:to="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:to="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:to="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:to="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PrasadaNoteMember" xlink:label="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:to="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:to="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:to="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:to="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:to="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:label="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding" xlink:label="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="locator" />
    <definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="locator" />
    <definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/CoVentureArrangement" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesLineItems" xlink:label="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesTable" xlink:label="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallAndChandlerFashionCenterMember" xlink:label="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMember" xlink:label="loc_mac_FreeholdRacewayMallMember_931B81B3DFF4C8D14B9B5EEB6EAE418D" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_FreeholdRacewayMallMember_931B81B3DFF4C8D14B9B5EEB6EAE418D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMember" xlink:label="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentageSold" xlink:label="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_DD58E3A282F406D83AD25EEB6EAE9FD6" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_DD58E3A282F406D83AD25EEB6EAE9FD6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_us-gaap_DeferredGainOnSaleOfProperty_7BA94932012C4A96DBB75EEB6EAEFB3D" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_us-gaap_DeferredGainOnSaleOfProperty_7BA94932012C4A96DBB75EEB6EAEFB3D" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:to="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:to="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:to="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ParentMember" xlink:label="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:to="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:to="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:to="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="locator" />
    <definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="locator" />
    <definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="locator" />
    <definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="locator" />
    <definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable" xlink:label="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AboveMarketLeasesMember" xlink:label="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:to="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BelowMarketLeaseMember" xlink:label="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:to="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseGross" xlink:label="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/Dispositions" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/DispositionsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMember" xlink:label="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:to="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PanoramaMallMember" xlink:label="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:to="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMortgageMember" xlink:label="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:to="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_0103E67A74D7E9B462C97769E4D5057F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_0103E67A74D7E9B462C97769E4D5057F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:label="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/EarningsPerShareEps" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:to="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:to="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:to="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PreferredNonparticipatingConvertibleUnitsMember" xlink:label="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:to="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PartnershipUnitsMember" xlink:label="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:to="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/IncomeTaxes" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/IncomeTaxesDetails" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/IncomeTaxesTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLLCMember" xlink:label="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:to="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:to="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:to="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NorthwesternMutualLifeMember" xlink:label="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:to="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GuaranteeObligationsMaximumExposure" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GuaranteeObligationsExposureIndemnifiedByThirdParty" xlink:label="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentNotesPayableRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity" xlink:label="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvesteeNameDomain" xlink:label="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:to="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvesteeNameDomain" xlink:label="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:to="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLPMember" xlink:label="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:to="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_OtherJointVenturesMember" xlink:label="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:to="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_16BC2483D6249F3B3F8C8284FE1880B7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_InlandCenterMember_16BC2483D6249F3B3F8C8284FE1880B7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SearsLocationsMember" xlink:label="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CountryClubPlazaMember" xlink:label="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PPRPortfolioMember" xlink:label="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_50EAE168CE73667C5F7B8284FE18130B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_ArrowheadTowneCenterMember_50EAE168CE73667C5F7B8284FE18130B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MACHeitmanPortfolioMember" xlink:label="loc_mac_MACHeitmanPortfolioMember_CA06D7608ADBFFE530418284FE183D5A" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_MACHeitmanPortfolioMember_CA06D7608ADBFFE530418284FE183D5A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LakewoodCenterMember" xlink:label="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LosCerritosCenterMember" xlink:label="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SouthPlainsMallMember" xlink:label="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WashingtonSquareMember" xlink:label="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMember" xlink:label="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMember" xlink:label="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TwentyNinthStreetMember" xlink:label="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" xlink:label="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_21028A753133BD41F2898284FE19ECAD" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_21028A753133BD41F2898284FE19ECAD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_A01B6BE271DA1E90B6968284FE19025C" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_A01B6BE271DA1E90B6968284FE19025C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_E51447584EE0375ED0688284FE19AD4D" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_E51447584EE0375ED0688284FE19AD4D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross_E2DF440608F8E17F1AD88284FE1AE15C" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesGross_E2DF440608F8E17F1AD88284FE1AE15C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_4BD2356F423AB1A04AFD8284FE1A9400" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_4BD2356F423AB1A04AFD8284FE1A9400" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfStores" xlink:label="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentagePurchased" xlink:label="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_DCDB18157C93905C982F8284FE1AB7EC" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_DCDB18157C93905C982F8284FE1AB7EC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_FF177BC97D57639254B38284FE19C741" xlink:type="locator" />
    <definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_FF177BC97D57639254B38284FE19C741" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="locator" />
    <definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessCash" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="locator" />
    <definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessAssumptionofDebt" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="locator" />
    <definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F25A0A9E69D6554389C78284FE1BD861" xlink:type="locator" />
    <definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F25A0A9E69D6554389C78284FE1BD861" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/MortgageNotesPayable" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_401DD7B69CEB3CE8D23F7ED2BCCDE53E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:to="loc_mac_ArrowheadTowneCenterMember_401DD7B69CEB3CE8D23F7ED2BCCDE53E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMember" xlink:label="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:to="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_9263BC8C1FBEB4E8BEC17ED2BCD37C2E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_9263BC8C1FBEB4E8BEC17ED2BCD37C2E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMallAtNorthgateMortgageMember" xlink:label="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_7CFAA30D027B93C534987ED2BCD346DA" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_SuperstitionSpringsCenterMember_7CFAA30D027B93C534987ED2BCD346DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_A6FB7C78A28B964078FE7ED2BCD33D47" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DeferredFinanceCostsNet_A6FB7C78A28B964078FE7ED2BCD33D47" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PercentageOfLoanAssumedByThirdParty" xlink:label="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_7B03D65C763A52678B057ED2BCD4B45A" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_7B03D65C763A52678B057ED2BCD4B45A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_3AE5FAA5B65E8014DF437ED2BCD4BDC2" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_3AE5FAA5B65E8014DF437ED2BCD4BDC2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MortgageNotesPayableProbableRecourseAmount" xlink:label="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="locator" />
    <definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:to="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageOneMember" xlink:label="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsAtNiagaraMortgageMember" xlink:label="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StonewoodCenterMortgageMember" xlink:label="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedPremium" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:to="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_98095FD6AC0A2B2770297E28B87AFF21" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_98095FD6AC0A2B2770297E28B87AFF21" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMortgageMember" xlink:label="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DanburyFairMallMortgageMember" xlink:label="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageOneMember" xlink:label="loc_mac_DeptfordMallMortgageOneMember_76933442E0925D0066A67E28B87A47F2" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DeptfordMallMortgageOneMember_76933442E0925D0066A67E28B87A47F2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageTwoMember" xlink:label="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMortgageMember" xlink:label="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsAtNiagaraMortgageMember" xlink:label="loc_mac_FashionOutletsAtNiagaraMortgageMember_429AEC9B40B1DA87703B7E28B87A4F4F" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FashionOutletsAtNiagaraMortgageMember_429AEC9B40B1DA87703B7E28B87A4F4F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlagstaffMallMortgageMember" xlink:label="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMortgageMember" xlink:label="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMortgageMember" xlink:label="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="locator" />
    <definitionArc order="10" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreenAcresMallMortgageMember" xlink:label="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="locator" />
    <definitionArc order="11" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_KingsPlazaMortgageMember" xlink:label="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="locator" />
    <definitionArc order="12" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMallAtNorthgateMortgageMember" xlink:label="loc_mac_TheMallAtNorthgateMortgageMember_1DD00FCDEF65E3EE0A9D7E28B87A06CD" xlink:type="locator" />
    <definitionArc order="13" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TheMallAtNorthgateMortgageMember_1DD00FCDEF65E3EE0A9D7E28B87A06CD" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheOaksOneMortgageMember" xlink:label="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="locator" />
    <definitionArc order="14" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificViewMortgageMember" xlink:label="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="locator" />
    <definitionArc order="15" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_QueensCenterMember" xlink:label="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="locator" />
    <definitionArc order="16" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SantaMonicaPlaceMortgageMember" xlink:label="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="locator" />
    <definitionArc order="17" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SanTanVillageRegionalCenterMortgageMember" xlink:label="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="locator" />
    <definitionArc order="18" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StonewoodCenterMortgageMember" xlink:label="loc_mac_StonewoodCenterMortgageMember_9D146A6BDBFA96565FF77E28B87B5772" xlink:type="locator" />
    <definitionArc order="19" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_StonewoodCenterMortgageMember_9D146A6BDBFA96565FF77E28B87B5772" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_D7266D58BDFB5E1195277E28B87BF8B6" xlink:type="locator" />
    <definitionArc order="20" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SuperstitionSpringsCenterMember_D7266D58BDFB5E1195277E28B87BF8B6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TowneMallMortgageMember" xlink:label="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="locator" />
    <definitionArc order="21" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TucsonLaEncantadaMortgageMember" xlink:label="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="locator" />
    <definitionArc order="22" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MallOfVictorValleyMortgageMember" xlink:label="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="locator" />
    <definitionArc order="23" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_VintageFaireMallMortgageMember" xlink:label="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="locator" />
    <definitionArc order="24" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WestsidePavilionMortgageMember" xlink:label="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="locator" />
    <definitionArc order="25" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_AAE8DA28FE38CE1866857E28B87B4957" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_AAE8DA28FE38CE1866857E28B87B4957" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/NoncontrollingInterests" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:label="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:label="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:to="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_3F3C656009296B856E346435BA80242B_C64416C24C445B409CAA587B8F4F727D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:to="loc_dei_EntityDomain_3F3C656009296B856E346435BA80242B_C64416C24C445B409CAA587B8F4F727D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:to="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMacerichPartnershipLPMember" xlink:label="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:to="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays" xlink:label="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValue" xlink:label="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/Organization" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/OrganizationDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:label="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:label="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:to="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:to="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_08D16AE4A44918A3C8776435BA986911_C64416C24C445B409CAA587B8F4F727D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:to="loc_dei_EntityDomain_08D16AE4A44918A3C8776435BA986911_C64416C24C445B409CAA587B8F4F727D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:to="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMacerichPartnershipLPMember" xlink:label="loc_mac_TheMacerichPartnershipLPMember_12C938507AAB502881016EF8F890A39D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:to="loc_mac_TheMacerichPartnershipLPMember_12C938507AAB502881016EF8F890A39D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_FE84F28C4FF95E63A19873BCA3DBFE1C" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_FE84F28C4FF95E63A19873BCA3DBFE1C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NumberOfRealEstateManagementCompanies" xlink:label="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:to="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/PropertyNet" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/PropertyNetDetails" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:to="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MACHeitmanPortfolioMember" xlink:label="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:to="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_B95A3C5D5183A17D9C237E28814D8477" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_B95A3C5D5183A17D9C237E28814D8477" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossOnLandSales" xlink:label="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LossonSaleorWriteDownofAssets" xlink:label="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WriteOffOfDevelopmentCost" xlink:label="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_F7A5BCCC58FD0D5BA5AD7E28814D78BE" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_F7A5BCCC58FD0D5BA5AD7E28814D78BE" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/PropertyNetTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactions" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:to="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:to="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_2F38B902FF32647ECA617E28B7CCE314" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:to="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_2F38B902FF32647ECA617E28B7CCE314" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CandlestickPointMember" xlink:label="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:to="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:to="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:to="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NorthwesternMutualLifeMember" xlink:label="loc_mac_NorthwesternMutualLifeMember_C439DCF8CE839AA69A9E7E28B7CC7E02" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_NorthwesternMutualLifeMember_C439DCF8CE839AA69A9E7E28B7CC7E02" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="loc_us-gaap_AffiliatedEntityMember_6CAF41EB601F08A613457E28B7CC5A52" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_us-gaap_AffiliatedEntityMember_6CAF41EB601F08A613457E28B7CC5A52" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:to="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:to="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" xlink:label="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:to="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:to="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_95C80D8D3CD38AEAC3EA7E28B7CD5C5C" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_StockUnitsMember_95C80D8D3CD38AEAC3EA7E28B7CD5C5C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_2D70FC992544D29C482E7E28B7CD6B98" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_LongTermIncentivePlanMember_2D70FC992544D29C482E7E28B7CD6B98" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_F57FCF10CE86B6FFA1897E28B7CD5230" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_StockAwardsMember_F57FCF10CE86B6FFA1897E28B7CD5230" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_B53A73D22576A550997A7E28B7CDE06A" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_us-gaap_EmployeeStockOptionMember_B53A73D22576A550997A7E28B7CDE06A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_09B249BEF573A47240547E28B7CDA1F4" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_09B249BEF573A47240547E28B7CDA1F4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ManagementDevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InterestExpensePayableRelatedParty" xlink:label="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="loc_us-gaap_DueFromAffiliates_86D655A2CEDA9818F5D67E28B7CD4442" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_DueFromAffiliates_86D655A2CEDA9818F5D67E28B7CD4442" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NotesReceivableInterestRate" xlink:label="loc_mac_NotesReceivableInterestRate_B7BC14EC04599E2ACB667E28B7CD447C" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_NotesReceivableInterestRate_B7BC14EC04599E2ACB667E28B7CD447C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:to="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_55977B1DD4D5A96E303C6435BA60354C_C64416C24C445B409CAA587B8F4F727D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_55977B1DD4D5A96E303C6435BA60354C_C64416C24C445B409CAA587B8F4F727D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_46A3AA9BE78D5A0085C3A954CE0E369F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_LongTermIncentivePlanMember_46A3AA9BE78D5A0085C3A954CE0E369F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_4AFA1BE7D8AE55EA8F052FE3362F702E" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_StockAwardsMember_4AFA1BE7D8AE55EA8F052FE3362F702E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_06F37FDB7F61594E8E7BD64FBB6CE398" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_StockUnitsMember_06F37FDB7F61594E8E7BD64FBB6CE398" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_333A198907875A018D47E679CA195C84" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_us-gaap_EmployeeStockOptionMember_333A198907875A018D47E679CA195C84" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_3117F5BA120251D893587488F9CBC6B5" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_3117F5BA120251D893587488F9CBC6B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingAxis" xlink:label="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:to="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:to="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:to="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_0D61CC4C6DD7F87E95336435BAA9F3B9_C64416C24C445B409CAA587B8F4F727D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_0D61CC4C6DD7F87E95336435BAA9F3B9_C64416C24C445B409CAA587B8F4F727D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_281CCD8358D75AEA817B7B6DB6C6E315" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_LongTermIncentivePlanMember_281CCD8358D75AEA817B7B6DB6C6E315" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_DCBABBAE5DE059AF88B9FF13E6BDD410" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_DCBABBAE5DE059AF88B9FF13E6BDD410" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_9408ABDE7AFE56A2A7DA6E13F1B8975D" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_StockUnitsMember_9408ABDE7AFE56A2A7DA6E13F1B8975D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" xlink:label="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:to="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:to="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_FD37850B2118E12453177E28B7B1D431" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:to="loc_us-gaap_EmployeeStockOptionMember_FD37850B2118E12453177E28B7B1D431" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_26220B07DB8756ACC73E7E28B7B1ADAE" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_26220B07DB8756ACC73E7E28B7B1ADAE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" xlink:label="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9E6E55DCEEBEF41B91BF7E28B7B13074" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9E6E55DCEEBEF41B91BF7E28B7B13074" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_706DD188251FEEA0CA657E28B7B1519F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_706DD188251FEEA0CA657E28B7B1519F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_477F65CFE7199B70A4567E28B7B18819" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_477F65CFE7199B70A4567E28B7B18819" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice" xlink:label="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/StockholdersEquity" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/StockholdersEquityDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:to="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:to="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" xlink:label="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NumberOfDividendsDeclared" xlink:label="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="locator" />
    <definitionArc order="6" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_12D3B3D4DA7B66984C797E28B8558AB3" xlink:type="locator" />
    <definitionArc order="7" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_12D3B3D4DA7B66984C797E28B8558AB3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MaximumAggregateCommonStockOfferPrice" xlink:label="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="locator" />
    <definitionArc order="8" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PercentageOfCommissionToSalesAgent" xlink:label="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="locator" />
    <definitionArc order="9" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/SubsequentEvents" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/SubsequentEventsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CapitolaMallMember" xlink:label="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:to="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_1001BE0E661526C108077ED2BB72152E" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:to="loc_us-gaap_SubsequentEventMember_1001BE0E661526C108077ED2BB72152E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_17F67FF42A109B9E61C17ED2BB77FDC5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_17F67FF42A109B9E61C17ED2BB77FDC5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_387734CE039258FC430A7ED2BB78D355" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_387734CE039258FC430A7ED2BB78D355" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" xlink:label="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_BDD2B323F17AC71BA6177ED2BB784FFD" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_BDD2B323F17AC71BA6177ED2BB784FFD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_FD42ECBC28775BD8E6107ED2BB786795" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_FD42ECBC28775BD8E6107ED2BB786795" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_B3310C4DFE04B2A52FB97ED2BB786A22" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_B3310C4DFE04B2A52FB97ED2BB786A22" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_RealEstateInvestmentPropertyNetMember" xlink:label="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMember" xlink:label="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebtMember" xlink:label="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesMember" xlink:label="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:to="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:to="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:to="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="arc" />
  </definitionLink>
  <definitionLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:type="extended" />
  <definitionLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/all" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="arc" xbrldt:closed="true" xbrldt:contextElement="segment" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/hypercube-dimension" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:to="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE_default" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-default" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:to="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE_default" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/dimension-domain" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:to="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedIncomeReceivableMember" xlink:label="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:to="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NoteReceivable1Member" xlink:label="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:to="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="locator" />
    <definitionArc order="1" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGross" xlink:label="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="locator" />
    <definitionArc order="2" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="locator" />
    <definitionArc order="3" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="locator" />
    <definitionArc order="4" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NotesReceivableInterestRate" xlink:label="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="locator" />
    <definitionArc order="5" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="arc" />
  </definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>11
<FILENAME>mac-20160331_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<link:linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple" />
  <link:roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple" />
  <link:labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <link:label id="lab_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_CF23AB622B72A26B167C6435B98BE4A0_label_en-US" xlink:label="lab_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans and Leases Receivable Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureAbstract" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:to="lab_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:type="arc" />
    <link:label id="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_6086657E6BBDEC7B74CB6435B98BC4DD_terseLabel_en-US" xlink:label="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant and Other Receivables, net:</link:label>
    <link:label id="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_6086657E6BBDEC7B74CB6435B98BC4DD_label_en-US" xlink:label="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loans, Notes, Trade and Other Receivables Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:label="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:to="lab_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Financial Position [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ASSETS:</link:label>
    <link:label id="lab_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="lab_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, net</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:type="arc" />
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant and other receivables, net</link:label>
    <link:label id="lab_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0_label_en-US" xlink:label="lab_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts and Notes Receivable, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsAndNotesReceivableNet" xlink:label="loc_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:to="lab_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred charges and other assets, net</link:label>
    <link:label id="lab_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2_label_en-US" xlink:label="lab_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs and Other Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsAndOtherAssets" xlink:label="loc_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:to="lab_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF_terseLabel_en-US" xlink:label="lab_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Due from affiliates</link:label>
    <link:label id="lab_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF_label_en-US" xlink:label="lab_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Due from Affiliates</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="loc_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:to="lab_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:to="lab_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:type="arc" />
    <link:label id="lab_us-gaap_Assets_4D2558F5892D793169625DCE514F1226_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_Assets_4D2558F5892D793169625DCE514F1226_label_en-US" xlink:label="lab_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:to="lab_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND EQUITY:</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:type="arc" />
    <link:label id="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E_terseLabel_en-US" xlink:label="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable:</link:label>
    <link:label id="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E_label_en-US" xlink:label="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Notes Payable [Abstract]</link:label>
    <link:label id="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E_documentation_en-US" xlink:label="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MortgageNotesPayableAbstract" xlink:label="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:to="lab_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related parties</link:label>
    <link:label id="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F_label_en-US" xlink:label="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Payable, Related Parties</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:to="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:type="arc" />
    <link:label id="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107_terseLabel_en-US" xlink:label="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</link:label>
    <link:label id="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107_label_en-US" xlink:label="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt Nonrelated Party</link:label>
    <link:label id="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107_documentation_en-US" xlink:label="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations such as mortgage loans.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:to="lab_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:type="arc" />
    <link:label id="lab_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA_totalLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:to="lab_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:type="arc" />
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A_terseLabel_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank and other notes payable</link:label>
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A_label_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt, Line of Credit and Other Notes Payable</link:label>
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A_documentation_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Includes the current and noncurrent portions, carrying amount of debut identified as being convertible into another form of financial instrument, the carrying values of obligations drawn from a line of credit, and other notes payable.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable" xlink:label="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:to="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
    <link:label id="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C_label_en-US" xlink:label="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:to="lab_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:type="arc" />
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603_terseLabel_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued dividend</link:label>
    <link:label id="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603_label_en-US" xlink:label="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends Payable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:to="lab_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other accrued liabilities</link:label>
    <link:label id="lab_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224_label_en-US" xlink:label="lab_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:to="lab_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:type="arc" />
    <link:label id="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69_terseLabel_en-US" xlink:label="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions in excess of investments in unconsolidated joint ventures</link:label>
    <link:label id="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69_label_en-US" xlink:label="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Joint Ventures.</link:label>
    <link:label id="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69_documentation_en-US" xlink:label="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying amount of liabilities resulting from investments in unconsolidated real estate and joint ventures not separately presented as of the balance sheet date.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:to="lab_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Co-venture obligation</link:label>
    <link:label id="lab_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40_label_en-US" xlink:label="lab_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Gain on Sale of Property</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:to="lab_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:type="arc" />
    <link:label id="lab_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB_totalLabel_en-US" xlink:label="lab_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB_label_en-US" xlink:label="lab_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:to="lab_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and contingencies</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:to="lab_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:to="lab_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354_verboseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Common stock, $0.01 par value, 250,000,000 shares authorized, 149,455,915 and 154,404,986 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively</link:label>
    <link:label id="lab_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354_label_en-US" xlink:label="lab_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Value, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:to="lab_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid in Capital, Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:to="lab_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:to="lab_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total stockholders' equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342_label_en-US" xlink:label="lab_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:to="lab_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F_label_en-US" xlink:label="lab_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:to="lab_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and equity</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities and Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncontrollingInterestAbstract_0FAD6DBF3154DC0B0C966435BA808852_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="loc_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:to="lab_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_349DF732967AA2A256B86435BA80B5B6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Subsidiary of Limited Liability Company or Limited Partnership [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_349DF732967AA2A256B86435BA80B5B6_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Subsidiary of Limited Liability Company or Limited Partnership [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:label="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:to="lab_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="arc" />
    <link:label id="lab_dei_LegalEntityAxis_395BE1EC5E2782CF40486435BA804B08_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:label id="lab_dei_LegalEntityAxis_395BE1EC5E2782CF40486435BA804B08_label_en-US" xlink:label="lab_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:to="lab_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="arc" />
    <link:label id="lab_dei_EntityDomain_3F3C656009296B856E346435BA80242B_terseLabel_en-US" xlink:label="lab_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:label id="lab_dei_EntityDomain_3F3C656009296B856E346435BA80242B_label_en-US" xlink:label="lab_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:to="lab_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="arc" />
    <link:label id="lab_mac_TheMacerichPartnershipLPMember_FC723F5E28E586FE93D76435BA80A63D_terseLabel_en-US" xlink:label="lab_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">The Macerich Partnership, L.P.</link:label>
    <link:label id="lab_mac_TheMacerichPartnershipLPMember_FC723F5E28E586FE93D76435BA80A63D_label_en-US" xlink:label="lab_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Macerich Partnership, L.P. [Member]</link:label>
    <link:label id="lab_mac_TheMacerichPartnershipLPMember_FC723F5E28E586FE93D76435BA80A63D_documentation_en-US" xlink:label="lab_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, The Macerich Partnership, L.P.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TheMacerichPartnershipLPMember" xlink:label="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:to="lab_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_06513A494EAEC8413C8F6435BA80F715_terseLabel_en-US" xlink:label="lab_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</link:label>
    <link:label id="lab_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_06513A494EAEC8413C8F6435BA80F715_label_en-US" xlink:label="lab_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:label="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="lab_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_CE1B1794CDCA56790AD06435BA8077BB_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest in operating partnership (as a percent)</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_CE1B1794CDCA56790AD06435BA8077BB_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Ownership Percentage by Parent</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_F378EEB592E0A73D44DF6435BA804CCA_verboseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Limited partnership interest of the operating partnership (as a percent)</link:label>
    <link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_F378EEB592E0A73D44DF6435BA804CCA_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_154B15255ABC4257184D6435BA80DAE8_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, par value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_154B15255ABC4257184D6435BA80DAE8_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="arc" />
    <link:label id="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_B647E3F7BA462066D3E96435BA81F4E4_terseLabel_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of trading days used to calculate redemption value (in days)</link:label>
    <link:label id="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_B647E3F7BA462066D3E96435BA81F4E4_label_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minority Interest, Redemption Value Basis Number of Trading Days</link:label>
    <link:label id="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_B647E3F7BA462066D3E96435BA81F4E4_documentation_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minority Interest, Redemption Value Basis Number of Trading Days</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays" xlink:label="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:to="lab_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="arc" />
    <link:label id="lab_mac_MinorityInterestRedemptionValue_6CB19C49CCEA69D027546435BA81FE6D_terseLabel_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Redemption value of outstanding OP Units not owned by the Company</link:label>
    <link:label id="lab_mac_MinorityInterestRedemptionValue_6CB19C49CCEA69D027546435BA81FE6D_label_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minority Interest Redemption Value</link:label>
    <link:label id="lab_mac_MinorityInterestRedemptionValue_6CB19C49CCEA69D027546435BA81FE6D_documentation_en-US" xlink:label="lab_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the aggregate redemption value for the noncontrolling interest.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValue" xlink:label="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:to="lab_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combinations [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:to="lab_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisitions, by Acquisition [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:to="lab_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Acquiree [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="arc" />
    <link:label id="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2_terseLabel_en-US" xlink:label="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inland Center</link:label>
    <link:label id="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2_label_en-US" xlink:label="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inland Center [Member]</link:label>
    <link:label id="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2_documentation_en-US" xlink:label="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inland Center [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:to="lab_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:label id="lab_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270_label_en-US" xlink:label="lab_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of Property [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:to="lab_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="arc" />
    <link:label id="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126_terseLabel_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fashion Outlets of Chicago</link:label>
    <link:label id="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126_label_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fashion Outlets of Chicago [Member]</link:label>
    <link:label id="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126_documentation_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Fashion Outlets of Chicago.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMember" xlink:label="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:to="lab_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:label id="lab_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:to="lab_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="arc" />
    <link:label id="lab_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3_terseLabel_en-US" xlink:label="lab_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Affiliated Entity</link:label>
    <link:label id="lab_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3_label_en-US" xlink:label="lab_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Affiliated Entity [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:to="lab_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="lab_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase price</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Consideration Transferred</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:to="lab_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase price funded by cash payment on acquisition</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Businesses, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:to="lab_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25_verboseLabel_en-US" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Purchase price paid through assumption of debt by the Company</link:label>
    <link:label id="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25_label_en-US" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncash or Part Noncash Acquisition, Debt Assumed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:to="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent consideration</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="arc" />
    <link:label id="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895_terseLabel_en-US" xlink:label="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition noncontrolling interest adjustment</link:label>
    <link:label id="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895_label_en-US" xlink:label="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Noncontrolling Interest Adjustment</link:label>
    <link:label id="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895_documentation_en-US" xlink:label="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition Noncontrolling Interest Adjustment</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_AcquisitionNoncontrollingInterestAdjustment" xlink:label="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:to="lab_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="arc" />
    <link:label id="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB_terseLabel_en-US" xlink:label="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional ownership interest acquired (as a percent)</link:label>
    <link:label id="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB_label_en-US" xlink:label="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Step Acquisition, Additional Equity Interest Acquired, Percentage</link:label>
    <link:label id="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB_documentation_en-US" xlink:label="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">In a business combination achieved in stages, this element represents the additional percentage of equity interests acquired.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" xlink:label="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:to="lab_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest at completion of acquisition (as a percent)</link:label>
    <link:label id="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Percentage of Voting Interests Acquired</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:to="lab_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentAbstract_1F39B69AB971E82764416435BA904F92_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_AC768E972585869D1DF86435BA90B374_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of property</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_AC768E972585869D1DF86435BA90B374_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Real Estate Properties [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:to="lab_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:to="lab_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="arc" />
    <link:label id="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A_terseLabel_en-US" xlink:label="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pacific Premier Retail LLC [Member]</link:label>
    <link:label id="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A_label_en-US" xlink:label="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pacific Premier Retail LLC [Member]</link:label>
    <link:label id="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A_documentation_en-US" xlink:label="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pacific Premier Retail LLC [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLLCMember" xlink:label="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:to="lab_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="arc" />
    <link:label id="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A_verboseLabel_en-US" xlink:label="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Northwestern Mutual Life (NML)</link:label>
    <link:label id="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A_label_en-US" xlink:label="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Northwestern Mutual Life [Member]</link:label>
    <link:label id="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A_documentation_en-US" xlink:label="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents Northwestern Mutual Life ("NML"), considered a related party because it is a joint venture partner of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NorthwesternMutualLifeMember" xlink:label="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:to="lab_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated joint ventures:</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Equity Method Investments [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="arc" />
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable that could become recourse debt to the Company</link:label>
    <link:label id="lab_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantor Obligations, Maximum Exposure, Undiscounted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GuaranteeObligationsMaximumExposure" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:to="lab_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="arc" />
    <link:label id="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102_terseLabel_en-US" xlink:label="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indemnity of guaranteed amount</link:label>
    <link:label id="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102_label_en-US" xlink:label="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantee Obligations, Exposure Indemnified by Third Party</link:label>
    <link:label id="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102_documentation_en-US" xlink:label="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The portion of the amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees that is indemnified by a third party.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GuaranteeObligationsExposureIndemnifiedByThirdParty" xlink:label="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:to="lab_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable to affiliate</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Notes Payable Related Party</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount for notes payable due to related parties reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentNotesPayableRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:to="lab_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense on borrowings from related party</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Interest Expense Related Party</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of interest expense on a debt or other obligation to a related party reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of difference between cost of investments and book value of underlying equity</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Amortization of Difference Between Carrying Amount and Underlying Equity</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The item represents the amortization during the period of the difference between the amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and the amount of underlying equity in net assets the reporting Entity has in the investee.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity" xlink:label="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:to="lab_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountingPoliciesAbstract_DF9F0354D0EC368B4D5A6435BA236195_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounting Policies [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:to="lab_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:type="arc" />
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_CBC6C6B64D6CFFE8E1B66435BA238D5A_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of Presentation</link:label>
    <link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_CBC6C6B64D6CFFE8E1B66435BA238D5A_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:type="arc" />
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_F270C966F2D7D59BD5E26435BA23F5C9_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recent Accounting Pronouncements</link:label>
    <link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_F270C966F2D7D59BD5E26435BA23F5C9_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">New Accounting Pronouncements, Policy [Policy Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:type="arc" />
    <link:label id="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA_terseLabel_en-US" xlink:label="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent Liabilities</link:label>
    <link:label id="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA_label_en-US" xlink:label="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingent Liabilities [Abstract]</link:label>
    <link:label id="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA_documentation_en-US" xlink:label="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ContingentLiabilitiesAbstract" xlink:label="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:to="lab_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating lease rent expense</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:to="lab_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent rent</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Rent Expense, Contingent Rentals</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseContingentRentals" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:to="lab_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:type="arc" />
    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011_terseLabel_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingent liability under letters of credit</link:label>
    <link:label id="lab_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011_label_en-US" xlink:label="lab_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Letters of Credit Outstanding, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:to="lab_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding obligations under construction agreements</link:label>
    <link:label id="lab_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37_label_en-US" xlink:label="lab_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction Payable, Current</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionPayableCurrent" xlink:label="loc_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:to="lab_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Method Investee, Name [Axis]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvesteeNameDomain" xlink:label="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:to="lab_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="arc" />
    <link:label id="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144_terseLabel_en-US" xlink:label="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pacific Premier Retail LLC</link:label>
    <link:label id="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144_label_en-US" xlink:label="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pacific Premier Retail LP [Member]</link:label>
    <link:label id="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144_documentation_en-US" xlink:label="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents Pacific Premier Retail LP, a joint venture in which the entity has made investment.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLPMember" xlink:label="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:to="lab_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="arc" />
    <link:label id="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2_terseLabel_en-US" xlink:label="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Joint Ventures</link:label>
    <link:label id="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2_label_en-US" xlink:label="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Joint Ventures [Member]</link:label>
    <link:label id="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2_documentation_en-US" xlink:label="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents other joint ventures in which the entity participates, not specifically identified.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_OtherJointVenturesMember" xlink:label="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:to="lab_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A_verboseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Revenues:</link:label>
    <link:label id="lab_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="lab_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum rents</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Minimum Lease Revenue</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage rents</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Percentage Rent</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant recoveries</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Tenant Reimbursements</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents allowable charges due a landlord from its tenant for the period, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Other Revenue</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of all other revenue and income for the period reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592_totalLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses:</link:label>
    <link:label id="lab_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Expenses [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="lab_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shopping center and operating expenses</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Cost of Real Estate Revenue</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the total of the costs related to real estate revenues reported for the period by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Interest Expense</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The cost of borrowed funds accounted for as interest that was charged against earnings during the period by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Depreciation and Amortization</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The current period expense charged against earnings for depreciation and amortization on long-lived, physical assets not used in production, and which are not intended for resale, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC_totalLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total operating expenses</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Operating Expenses</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Generally recurring costs associated with normal operations for the period reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale or write down of assets, net</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Gain (Loss) on Sale and Remeasurement of Assets</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of gain or loss resulting from either the difference between the carrying value and the sales price or remeasurement of the carrying value of assets during the period, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A_totalLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net (loss) income</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Net Income (Loss)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Company's equity in net (loss) income</link:label>
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Equity Method Investments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="lab_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues:</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="lab_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:type="arc" />
    <link:label id="lab_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum rents</link:label>
    <link:label id="lab_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Income Statement, Minimum Lease Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:to="lab_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:type="arc" />
    <link:label id="lab_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F_terseLabel_en-US" xlink:label="lab_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage rents</link:label>
    <link:label id="lab_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F_label_en-US" xlink:label="lab_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating Leases, Income Statement, Percentage Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PercentageRent" xlink:label="loc_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:to="lab_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:type="arc" />
    <link:label id="lab_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C_terseLabel_en-US" xlink:label="lab_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant recoveries</link:label>
    <link:label id="lab_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C_label_en-US" xlink:label="lab_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Reimbursements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantReimbursements" xlink:label="loc_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:to="lab_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B_terseLabel_en-US" xlink:label="lab_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B_label_en-US" xlink:label="lab_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncome" xlink:label="loc_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:to="lab_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:type="arc" />
    <link:label id="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E_terseLabel_en-US" xlink:label="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Companies</link:label>
    <link:label id="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E_label_en-US" xlink:label="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees and Other Revenues</link:label>
    <link:label id="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E_documentation_en-US" xlink:label="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue, comprised of base and incentive revenue, from developing, operating and managing another entity's business during the reporting period; plus revenues not otherwise specified.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ManagementFeesAndOtherRevenues" xlink:label="loc_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:to="lab_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:type="arc" />
    <link:label id="lab_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</link:label>
    <link:label id="lab_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF_label_en-US" xlink:label="lab_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenues</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:to="lab_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:type="arc" />
    <link:label id="lab_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3_terseLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses:</link:label>
    <link:label id="lab_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3_label_en-US" xlink:label="lab_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="lab_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:type="arc" />
    <link:label id="lab_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577_terseLabel_en-US" xlink:label="lab_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shopping center and operating expenses</link:label>
    <link:label id="lab_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577_label_en-US" xlink:label="lab_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of Real Estate Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfRealEstateRevenue" xlink:label="loc_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:to="lab_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:type="arc" />
    <link:label id="lab_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044_terseLabel_en-US" xlink:label="lab_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Management Companies' operating expenses</link:label>
    <link:label id="lab_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044_label_en-US" xlink:label="lab_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Owned Property Management Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OwnedPropertyManagementCosts" xlink:label="loc_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:to="lab_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:type="arc" />
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">REIT general and administrative expenses</link:label>
    <link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General and Administrative Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:type="arc" />
    <link:label id="lab_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3_terseLabel_en-US" xlink:label="lab_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costs related to unsolicited takeover offer</link:label>
    <link:label id="lab_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3_label_en-US" xlink:label="lab_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsolicited Tender Offer Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnsolicitedTenderOfferCosts" xlink:label="loc_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:to="lab_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:to="lab_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:type="arc" />
    <link:label id="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F_totalLabel_en-US" xlink:label="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses before interest</link:label>
    <link:label id="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F_label_en-US" xlink:label="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses before Interest, Total</link:label>
    <link:label id="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F_documentation_en-US" xlink:label="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The sum of all costs of sales and operating expenses, excluding interest expense, for the period.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_CostsAndExpensesBeforeInterestTotal" xlink:label="loc_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:to="lab_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense:</link:label>
    <link:label id="lab_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811_label_en-US" xlink:label="lab_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:to="lab_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related parties</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction, Expenses from Transactions with Related Party</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:to="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592_terseLabel_en-US" xlink:label="lab_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</link:label>
    <link:label id="lab_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592_label_en-US" xlink:label="lab_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense, Other</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseOther" xlink:label="loc_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:to="lab_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB_totalLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total interest expense</link:label>
    <link:label id="lab_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB_label_en-US" xlink:label="lab_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:to="lab_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:type="arc" />
    <link:label id="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF_negatedLabel_en-US" xlink:label="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loss (gain) on early extinguishment of debt, net</link:label>
    <link:label id="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF_label_en-US" xlink:label="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt, Including Penalties</link:label>
    <link:label id="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF_documentation_en-US" xlink:label="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt, Including Penalties</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GainsLossesonExtinguishmentofDebtIncludingPenalties" xlink:label="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:to="lab_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:type="arc" />
    <link:label id="lab_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8_totalLabel_en-US" xlink:label="lab_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total expenses</link:label>
    <link:label id="lab_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8_label_en-US" xlink:label="lab_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:to="lab_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity in income of unconsolidated joint ventures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:type="arc" />
    <link:label id="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20_terseLabel_en-US" xlink:label="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Co-venture expense</link:label>
    <link:label id="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20_label_en-US" xlink:label="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income (Loss) from Co-venture Operations</link:label>
    <link:label id="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20_documentation_en-US" xlink:label="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This item represents the entity's proportionate share for the period of the net income or loss related to its profit-sharing arrangement.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:to="lab_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income tax (expense) benefit</link:label>
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:type="arc" />
    <link:label id="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937_terseLabel_en-US" xlink:label="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale or write down of assets, net</link:label>
    <link:label id="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937_label_en-US" xlink:label="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale or Write Down of Assets</link:label>
    <link:label id="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937_documentation_en-US" xlink:label="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (Loss) on Sale or Write Down of Assets</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:to="lab_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1_verboseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Gain on remeasurement of assets</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:to="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E_totalLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:label id="lab_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E_label_en-US" xlink:label="lab_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss), Including Portion Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:to="lab_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less net income attributable to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Attributable to Noncontrolling Interest</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE_totalLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to the Company</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per common share&#8212;net income attributable to common stockholders:</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic and Diluted [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:to="lab_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:to="lab_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share, Diluted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:to="lab_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of common shares outstanding:</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted (in shares)</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_6F9BABD543D1D16F38636435B968E354_label_en-US" xlink:label="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:to="lab_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssetsDisclosureTextBlock_47F5BD719122763CCB6F6435B9686759_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred Charges and Other Assets, net:</link:label>
    <link:label id="lab_us-gaap_OtherAssetsDisclosureTextBlock_47F5BD719122763CCB6F6435B9686759_label_en-US" xlink:label="lab_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsDisclosureTextBlock" xlink:label="loc_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:to="lab_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of existing ownership interest (at % ownership)</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:to="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22_negatedLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Carrying value of investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:to="lab_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on remeasurement of assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:to="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of existing ownership interest (as a percent)</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:to="lab_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6_label_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:to="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:to="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217_label_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:to="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="arc" />
    <link:label id="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F_terseLabel_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrowhead Towne Center</link:label>
    <link:label id="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F_label_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrowhead Towne Center [Member]</link:label>
    <link:label id="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F_documentation_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the joint venture, Arrowhead Towne Center.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:to="lab_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="arc" />
    <link:label id="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76_terseLabel_en-US" xlink:label="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MAC Heitman Portfolio</link:label>
    <link:label id="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76_label_en-US" xlink:label="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MAC Heitman Portfolio [Member]</link:label>
    <link:label id="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76_documentation_en-US" xlink:label="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">MAC Heitman Portfolio [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MACHeitmanPortfolioMember" xlink:label="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:to="lab_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation expenses</link:label>
    <link:label id="lab_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95_label_en-US" xlink:label="lab_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Nonproduction</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:to="lab_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest sold (as a percent)</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Percentage of Ownership Interest Sold</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting that was sold by the entity during the period.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:to="lab_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="arc" />
    <link:label id="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6_terseLabel_en-US" xlink:label="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land sales</link:label>
    <link:label id="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6_label_en-US" xlink:label="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Land Sales</link:label>
    <link:label id="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6_documentation_en-US" xlink:label="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (Loss) On Land Sales</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GainLossOnLandSales" xlink:label="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:to="lab_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment to contingent consideration</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:to="lab_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="arc" />
    <link:label id="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D_terseLabel_en-US" xlink:label="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on Sale or Write-Down of Assets</link:label>
    <link:label id="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D_label_en-US" xlink:label="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss on Sale or Write-Down of Assets</link:label>
    <link:label id="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D_documentation_en-US" xlink:label="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loss on Sale or Write-Down of Assets</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_LossonSaleorWriteDownofAssets" xlink:label="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:to="lab_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="arc" />
    <link:label id="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33_terseLabel_en-US" xlink:label="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Development cost</link:label>
    <link:label id="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33_label_en-US" xlink:label="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Write-off of Development Cost</link:label>
    <link:label id="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33_documentation_en-US" xlink:label="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the development cost written off during the period.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_WriteOffOfDevelopmentCost" xlink:label="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:to="lab_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtDisclosureAbstract_EABB344ED541A7B186316435B972DDE9_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:to="lab_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:type="arc" />
    <link:label id="lab_us-gaap_MortgageNotesPayableDisclosureTextBlock_5B69B924F0592BECCBEC6435B9720C95_terseLabel_en-US" xlink:label="lab_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage Notes Payable:</link:label>
    <link:label id="lab_us-gaap_MortgageNotesPayableDisclosureTextBlock_5B69B924F0592BECCBEC6435B9720C95_label_en-US" xlink:label="lab_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Notes Payable Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MortgageNotesPayableDisclosureTextBlock" xlink:label="loc_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:to="lab_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxDisclosureAbstract_2C5BC101C94465E86B336435BA89E078_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:to="lab_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_07141DF004E74E7A0F936435BA898943_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Taxes:</link:label>
    <link:label id="lab_us-gaap_IncomeTaxDisclosureTextBlock_07141DF004E74E7A0F936435BA898943_label_en-US" xlink:label="lab_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Tax Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:to="lab_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Stockholders' Equity [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:label id="lab_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9_label_en-US" xlink:label="lab_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:to="lab_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957_terseLabel_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:label id="lab_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957_label_en-US" xlink:label="lab_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Components [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:to="lab_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5_terseLabel_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:label id="lab_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5_label_en-US" xlink:label="lab_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Component [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:to="lab_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416_terseLabel_en-US" xlink:label="lab_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416_label_en-US" xlink:label="lab_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ParentMember" xlink:label="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="lab_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock</link:label>
    <link:label id="lab_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356_label_en-US" xlink:label="lab_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:to="lab_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital</link:label>
    <link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional Paid-in Capital [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:to="lab_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="arc" />
    <link:label id="lab_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated Deficit</link:label>
    <link:label id="lab_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:to="lab_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:to="lab_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement</link:label>
    <link:label id="lab_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:to="lab_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Stockholders' Equity [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583_periodStartLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:to="lab_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117_verboseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:to="lab_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of share and unit-based plans (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94_negatedLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Stock repurchases (in shares)</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Shares</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Stock repurchases</link:label>
    <link:label id="lab_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807_label_en-US" xlink:label="lab_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchased During Period, Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:to="lab_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="arc" />
    <link:label id="lab_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F_negatedLabel_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions declared ($0.68) per share</link:label>
    <link:label id="lab_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F_label_en-US" xlink:label="lab_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends, Common Stock, Cash</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:to="lab_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of noncontrolling interests to common shares (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Shares, Conversion of Units</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of noncontrolling interests to common shares</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Issued During Period, Value, Conversion of Units</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Redemption of noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustment of noncontrolling interests in Operating Partnership</link:label>
    <link:label id="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest, Increase from Subsidiary Equity Issuance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:to="lab_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531_periodEndLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:to="lab_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="arc" />
    <link:label id="lab_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50_terseLabel_en-US" xlink:label="lab_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:label id="lab_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50_label_en-US" xlink:label="lab_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingAxis" xlink:label="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:to="lab_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="arc" />
    <link:label id="lab_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74_terseLabel_en-US" xlink:label="lab_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:label id="lab_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74_label_en-US" xlink:label="lab_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vesting [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="lab_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LTIP units that vest in equal installments over a service period ending December 31, 2016</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Award, Tranche One [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market-Indexed LTIP units that vest in equal installments over a service period ending December 31, 2016</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Award, Tranche Two [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LTIP units that are fully vested on the grant date</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Award, Tranche Three [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:to="lab_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="arc" />
    <link:label id="lab_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5_terseLabel_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5_label_en-US" xlink:label="lab_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Award Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:to="lab_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity Award [Domain]</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Award [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="arc" />
    <link:label id="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744_terseLabel_en-US" xlink:label="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock units</link:label>
    <link:label id="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744_label_en-US" xlink:label="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Units [Member]</link:label>
    <link:label id="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744_documentation_en-US" xlink:label="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock units as awarded by an entity to their employees as a form of incentive compensation.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:to="lab_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="arc" />
    <link:label id="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F_terseLabel_en-US" xlink:label="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LTIP Units</link:label>
    <link:label id="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F_label_en-US" xlink:label="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Incentive Plan [Member]</link:label>
    <link:label id="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F_documentation_en-US" xlink:label="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long-term incentive plan.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:to="lab_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock options</link:label>
    <link:label id="lab_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5_label_en-US" xlink:label="lab_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Stock Option [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:to="lab_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="arc" />
    <link:label id="lab_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2_terseLabel_en-US" xlink:label="lab_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Phantom stock units</link:label>
    <link:label id="lab_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2_label_en-US" xlink:label="lab_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Phantom Share Units (PSUs) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:to="lab_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:type="arc" />
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A_terseLabel_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion rate of shares</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A_label_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Other than Options, Conversion Rate</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A_documentation_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Other than Options, Conversion Rate</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:to="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average grant date fair value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk free rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Volatility (as a percent)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized share and unit-based compensation costs</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="arc" />
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C_terseLabel_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrecognized compensation cost of share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C_label_en-US" xlink:label="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:to="lab_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_D921DFEC389C24BD74706435BA24F912_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies:</link:label>
    <link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_D921DFEC389C24BD74706435BA24F912_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityNoteAbstract_06193BEED9B8222CBDCB6435BB15FC0E_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="loc_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:to="lab_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_A782862F0CBCF471A7BC6435BB155759_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stockholders' Equity:</link:label>
    <link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_A782862F0CBCF471A7BC6435BB155759_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stockholders' Equity Note Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:to="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareAbstract_67AE6585B46DFEC6354E6435BA37BF53_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:to="lab_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:type="arc" />
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_5462228E5D7B39545B866435BA37C7C5_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per Share ("EPS"):</link:label>
    <link:label id="lab_us-gaap_EarningsPerShareTextBlock_5462228E5D7B39545B866435BA37C7C5_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings Per Share [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:to="lab_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsAbstract_C290A1FD001B6265DD7B6435B9F9CD09_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:to="lab_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_7B8BCED5143E69DDA5C46435B9F94B65_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of fees charged to unconsolidated joint ventures</link:label>
    <link:label id="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_7B8BCED5143E69DDA5C46435B9F94B65_label_en-US" xlink:label="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Revenues from Unconsolidated Joint Ventures and Third Party Managed Properties [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_7B8BCED5143E69DDA5C46435B9F94B65_documentation_en-US" xlink:label="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of revenue derived from management, development and leasing fees charged to unconsolidated joint ventures and third-party managed properties.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock" xlink:label="loc_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:to="lab_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:type="arc" />
    <link:label id="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_CDD9D96215270B3B39066435B9C3ADC5_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discontinued Operations and Disposal Groups [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:to="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_1067E384B80FDC18D8C96435B9C3EE6A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dispositions:</link:label>
    <link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_1067E384B80FDC18D8C96435B9C3EE6A_label_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:to="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:type="arc" />
    <link:label id="lab_mac_StockAwardsMember_836F1D1E59DC874B376C6435BAAE0408_terseLabel_en-US" xlink:label="lab_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock awards</link:label>
    <link:label id="lab_mac_StockAwardsMember_836F1D1E59DC874B376C6435BAAE0408_label_en-US" xlink:label="lab_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Awards [Member]</link:label>
    <link:label id="lab_mac_StockAwardsMember_836F1D1E59DC874B376C6435BAAE0408_documentation_en-US" xlink:label="lab_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock awards as awarded by an entity to their employees as a form of an incentive compensation.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:to="lab_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_6FAABD389D8FAD4CB5056435BAAE7C9D_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_6FAABD389D8FAD4CB5056435BAAE7C9D_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_96B2793E236C481380B06435BAAE7EEA_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of period (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_96B2793E236C481380B06435BAAE7EEA_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_A24A92BB2A89A90BAAF26435BAAE70EB_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_E54F32264CBFD5DA3A736435BAAF3585_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Vested (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_E54F32264CBFD5DA3A736435BAAF3585_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_C6047C0D2466BD76F68E6435BAAFC632_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_C6047C0D2466BD76F68E6435BAAFC632_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_B614284A5DDEBC942E7B6435BAAF848C_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of period (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:type="arc" />
    <link:label id="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_5FA19E4447AF531ACBD66435BAAFFE85_terseLabel_en-US" xlink:label="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value (in dollars per share)</link:label>
    <link:label id="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_5FA19E4447AF531ACBD66435BAAFFE85_label_en-US" xlink:label="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Based Compensation Arrangement by Share Based Payment Award Equity Instruments other than Options Weighted Average Exercise Price [Roll forward]</link:label>
    <link:label id="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_5FA19E4447AF531ACBD66435BAAFFE85_documentation_en-US" xlink:label="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" xlink:label="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="lab_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9EA45A2CB2BD62A352E16435BAAF7FC7_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of period (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9EA45A2CB2BD62A352E16435BAAF7FC7_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_09F8ADBE485D67B5C30D6435BAAF36B9_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Granted (in dollars per share)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1FE972B55C1877FBB39B6435BAAF4B7F_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vested (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1FE972B55C1877FBB39B6435BAAF4B7F_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_278B0F0E0F9117ED29E66435BAAF5145_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeited (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_278B0F0E0F9117ED29E66435BAAF5145_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_DD60A3249CE667E9B7C66435BAAF2FBE_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of period (in dollars per share)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="lab_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411_label_en-US" xlink:label="lab_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:to="lab_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0_terseLabel_en-US" xlink:label="lab_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:label id="lab_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0_label_en-US" xlink:label="lab_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Rate [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:to="lab_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="arc" />
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E_terseLabel_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">London Interbank Offered Rate (LIBOR)</link:label>
    <link:label id="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E_label_en-US" xlink:label="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">London Interbank Offered Rate (LIBOR) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:to="lab_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:to="lab_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:to="lab_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of Credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075_label_en-US" xlink:label="lab_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:to="lab_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="arc" />
    <link:label id="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481_terseLabel_en-US" xlink:label="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prasada Note</link:label>
    <link:label id="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481_label_en-US" xlink:label="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prasada Note [Member]</link:label>
    <link:label id="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481_documentation_en-US" xlink:label="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prasada Note [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PrasadaNoteMember" xlink:label="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:to="lab_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="arc" />
    <link:label id="lab_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA_terseLabel_en-US" xlink:label="lab_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:label id="lab_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA_label_en-US" xlink:label="lab_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:to="lab_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="arc" />
    <link:label id="lab_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64_terseLabel_en-US" xlink:label="lab_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:label id="lab_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64_label_en-US" xlink:label="lab_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:to="lab_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193_verboseLabel_en-US" xlink:label="lab_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Low end of range</link:label>
    <link:label id="lab_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193_label_en-US" xlink:label="lab_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:to="lab_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="arc" />
    <link:label id="lab_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF_verboseLabel_en-US" xlink:label="lab_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">High end of range</link:label>
    <link:label id="lab_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF_label_en-US" xlink:label="lab_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:to="lab_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mortgage loans payable on real estate</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="lab_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revolving line of credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Maximum Borrowing Capacity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate basis</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Description of Variable Rate Basis</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:to="lab_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate spread over basis (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Basis Spread on Variable Rate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outstanding borrowings under the line of credit</link:label>
    <link:label id="lab_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3_label_en-US" xlink:label="lab_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Line of Credit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:to="lab_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unamortized deferred finance costs</link:label>
    <link:label id="lab_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Finance Costs, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:to="lab_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Line of credit, average interest rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Interest Rate During Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:label="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:to="lab_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="arc" />
    <link:label id="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of outstanding line of credit</link:label>
    <link:label id="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Line of Credit Facility, Fair Value of Amount Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding" xlink:label="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:to="lab_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amount of additional borrowing</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate on debt (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Stated Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt, carrying value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long-term Debt, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:to="lab_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt, fair value</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:to="lab_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="arc" />
    <link:label id="lab_us-gaap_AssetsAbstract_EA989FDF5065F081806E6435BA0C4CDC_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Assets:</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:to="lab_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_E4B2E59798FBBD28885F6435BA0C8F59_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Properties, net</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_E4B2E59798FBBD28885F6435BA0C8F59_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Real Estate Investment Property, Net</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_E4B2E59798FBBD28885F6435BA0C8F59_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The net book value of real estate investment property reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_55C5D380E1B9084227AD6435BA0C315C_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_55C5D380E1B9084227AD6435BA0C315C_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Other Assets</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_55C5D380E1B9084227AD6435BA0C315C_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate carrying amount of other assets not separately disclosed, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_844CE0A9F2A6B104977F6435BA0DCFFD_totalLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E3E2AD935DEA7A1987EF6435BA0D6FBB_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liabilities and partners' capital:</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_615E53EF2DC2740781DD6435BA0DBF67_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_615E53EF2DC2740781DD6435BA0DBF67_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Secured Debt</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_615E53EF2DC2740781DD6435BA0DBF67_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_5DE43AFECA33E5DF717D6435BA0DED83_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_5DE43AFECA33E5DF717D6435BA0DED83_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Other Liabilities</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_5DE43AFECA33E5DF717D6435BA0DED83_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The aggregate carrying amount of other liabilities not separately disclosed, reported by an equity method investment of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_A4DEA32D1F58EEF2E4EC6435BA0DBBAB_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Company's capital</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_A4DEA32D1F58EEF2E4EC6435BA0DBBAB_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Underlying Equity in Net Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:to="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_CFE6D5EA265347FD61126435BA0D6F30_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Outside partners' capital</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_CFE6D5EA265347FD61126435BA0D6F30_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Equity or Capital Other Interests</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_CFE6D5EA265347FD61126435BA0D6F30_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of equity (capital) of an equity method investment of the entity that is attributable to other ownership interests.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_9938168E396D95AB417F6435BA0D5690_totalLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities and partners' capital</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_9938168E396D95AB417F6435BA0D5690_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Summarized Financial Information, Liabilities and Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:to="lab_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_349D2F4FA9BC6A5DA4F06435BA0D0A0C_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated joint ventures:</link:label>
    <link:label id="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_349D2F4FA9BC6A5DA4F06435BA0D0A0C_label_en-US" xlink:label="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:to="lab_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_6CF35B3091D3FE4CB0266435BA0D5081_netLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Company's capital</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:to="lab_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_60E7FA44B49292D5C9176435BA0DDD8D_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis adjustment</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_60E7FA44B49292D5C9176435BA0DDD8D_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investment, Difference Between Carrying Amount and Underlying Equity</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity" xlink:label="loc_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:to="lab_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentsNet_E7D9691731F734B8D38B6435BA0D6F06_totalLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Investments in unconsolidated joint ventures</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsNet_E7D9691731F734B8D38B6435BA0D6F06_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Net</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsNet_E7D9691731F734B8D38B6435BA0D6F06_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee, net of the liability for distributions received in excess of the entity's investment.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsNet" xlink:label="loc_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:to="lab_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestments_50B2C36CAB74631410306435BA0D9641_netLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US">Assets&#8212;Investments in unconsolidated joint ventures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:to="lab_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:type="arc" />
    <link:label id="lab_mac_InvestmentsInUnconsolidatedJointVentures_A7BB7F768E6483422ABD6435BA0D16CC_negatedTerseLabel_en-US" xlink:label="lab_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Liabilities&#8212;Distributions in excess of investments in unconsolidated joint ventures</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:to="lab_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_94180364972E7D17C3B36435B9802CC0_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions:</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_94180364972E7D17C3B36435B9802CC0_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:to="lab_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:type="arc" />
    <link:label id="lab_us-gaap_MinorityInterestDisclosureTextBlock_15BA1975D446DFF573786435B969C98E_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Noncontrolling Interests:</link:label>
    <link:label id="lab_us-gaap_MinorityInterestDisclosureTextBlock_15BA1975D446DFF573786435B969C98E_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Noncontrolling Interest Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDisclosureTextBlock" xlink:label="loc_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:to="lab_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:type="arc" />
    <link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of Cash Flows [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:type="arc" />
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities:</link:label>
    <link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748_negatedLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on early extinguishment of debt, net</link:label>
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748_label_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (Losses) on Extinguishment of Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:type="arc" />
    <link:label id="lab_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8_negatedLabel_en-US" xlink:label="lab_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on sale or write down of assets, net</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:to="lab_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4_negatedLabel_en-US" xlink:label="lab_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on remeasurement of assets</link:label>
    <link:label id="lab_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4_label_en-US" xlink:label="lab_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidation Basis of Accounting, Remeasurement, Gain (Loss) on Asset</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset" xlink:label="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:to="lab_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:type="arc" />
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</link:label>
    <link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, Depletion and Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of net premium on mortgage notes payable</link:label>
    <link:label id="lab_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378_label_en-US" xlink:label="lab_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Debt Discount (Premium)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="loc_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:to="lab_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:to="lab_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:type="arc" />
    <link:label id="lab_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B_terseLabel_en-US" xlink:label="lab_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Straight-line rent adjustment</link:label>
    <link:label id="lab_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B_label_en-US" xlink:label="lab_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Straight Line Rent Adjustments</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StraightLineRentAdjustments" xlink:label="loc_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:to="lab_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:type="arc" />
    <link:label id="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization of above and below-market leases</link:label>
    <link:label id="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626_label_en-US" xlink:label="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of above and below Market Leases</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:label="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:to="lab_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF_terseLabel_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provision for doubtful accounts</link:label>
    <link:label id="lab_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF_label_en-US" xlink:label="lab_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provision for Doubtful Accounts</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:to="lab_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax expense (benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Equity in income of unconsolidated joint ventures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:to="lab_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions of income from unconsolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Equity Method Investment, Dividends or Distributions</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:to="lab_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:type="arc" />
    <link:label id="lab_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA_negatedLabel_en-US" xlink:label="lab_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Co-venture expense</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:to="lab_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in assets and liabilities, net of acquisitions and dispositions:</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Tenant and other receivables</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Operating Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Due from affiliates</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) Due from Affiliates</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseDueFromAffiliates" xlink:label="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:to="lab_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable and accrued expenses</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:to="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other accrued liabilities</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Other Accrued Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:to="lab_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by operating activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:to="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions of property</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Development, redevelopment, expansion and renovation of properties</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire and Develop Real Estate</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireAndDevelopRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:to="lab_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Property improvements</link:label>
    <link:label id="lab_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4_label_en-US" xlink:label="lab_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Develop Real Estate Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:to="lab_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from notes receivable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F_label_en-US" xlink:label="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Collection of Notes Receivable</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:label="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:to="lab_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred leasing costs</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Deferred Leasing Fees</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:to="lab_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:type="arc" />
    <link:label id="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E_terseLabel_en-US" xlink:label="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions from unconsolidated joint ventures</link:label>
    <link:label id="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E_label_en-US" xlink:label="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distributions of Capital from Unconsolidated Entities and Other</link:label>
    <link:label id="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E_documentation_en-US" xlink:label="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash inflows from unconsolidated entities and other.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther" xlink:label="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:to="lab_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Contributions to unconsolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Acquire Interest in Joint Venture</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireInterestInJointVenture" xlink:label="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:to="lab_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:type="arc" />
    <link:label id="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254_terseLabel_en-US" xlink:label="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale of assets</link:label>
    <link:label id="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254_label_en-US" xlink:label="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Sale of Partnership Interests Other Assets and Discontinued Operations, Net</link:label>
    <link:label id="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254_documentation_en-US" xlink:label="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash inflows from the sale of partnership interests, other assets, and discontinued operations.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet" xlink:label="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:to="lab_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</link:label>
    <link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) in Restricted Cash</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:to="lab_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash provided by (used in) investing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from mortgages, bank and other notes payable</link:label>
    <link:label id="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Issuance of Long-term Debt and Capital Securities, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments on mortgages, bank and other notes payable</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Long-term Debt, Long-term Capital Lease Obligations, and Capital Securities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:to="lab_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred financing costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6_label_en-US" xlink:label="lab_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Financing Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:to="lab_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payment of stock issuance costs</link:label>
    <link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB_label_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Stock Issuance Costs</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:to="lab_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Stock repurchases</link:label>
    <link:label id="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E_label_en-US" xlink:label="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments for Repurchase of Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:to="lab_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Redemption of noncontrolling interests</link:label>
    <link:label id="lab_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE_label_en-US" xlink:label="lab_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments to Noncontrolling Interests</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:to="lab_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:type="arc" />
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends and distributions</link:label>
    <link:label id="lab_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments of Ordinary Dividends, Common Stock</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:to="lab_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:type="arc" />
    <link:label id="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F_negatedLabel_en-US" xlink:label="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Distributions to co-venture partner</link:label>
    <link:label id="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F_label_en-US" xlink:label="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distributions to Co-venture Partner</link:label>
    <link:label id="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F_documentation_en-US" xlink:label="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element represents the distributions to co - venture partner.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DistributionsToCoVenturePartner" xlink:label="loc_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:to="lab_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) provided by financing activities</link:label>
    <link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:to="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A_totalLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net increase in cash and cash equivalents</link:label>
    <link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, beginning of period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents, end of period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:type="arc" />
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Supplemental cash flow information:</link:label>
    <link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:to="lab_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash payments for interest, net of amounts capitalized</link:label>
    <link:label id="lab_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Paid, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:to="lab_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:type="arc" />
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335_terseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash investing and financing transactions:</link:label>
    <link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335_label_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities</link:label>
    <link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Construction in Progress Expenditures Incurred but Not yet Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:to="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4_terseLabel_en-US" xlink:label="lab_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures</link:label>
    <link:label id="lab_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4_label_en-US" xlink:label="lab_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Assumed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesAssumed1" xlink:label="loc_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:to="lab_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:type="arc" />
    <link:label id="lab_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assumption of mortgage note payable from unconsolidated joint venture</link:label>
    <link:label id="lab_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities Assumed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAssumed1" xlink:label="loc_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:to="lab_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:type="arc" />
    <link:label id="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5_terseLabel_en-US" xlink:label="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of property in exchange for investment in unconsolidated joint venture</link:label>
    <link:label id="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5_label_en-US" xlink:label="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Cash or Part Noncash Acquisition, Investment in Unconsolidated Joint Venture</link:label>
    <link:label id="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5_documentation_en-US" xlink:label="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non Cash or Part Noncash Acquisition, Investment in Unconsolidated Joint Venture</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture" xlink:label="loc_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:to="lab_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558_terseLabel_en-US" xlink:label="lab_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conversion of Operating Partnership Units to common stock</link:label>
    <link:label id="lab_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558_label_en-US" xlink:label="lab_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Conversion of Stock, Amount Converted</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="loc_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:to="lab_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:to="lab_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:label id="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0_label_en-US" xlink:label="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:to="lab_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE_terseLabel_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivable Type [Domain]</link:label>
    <link:label id="lab_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE_label_en-US" xlink:label="lab_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivable [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:to="lab_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F_terseLabel_en-US" xlink:label="lab_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accrued percentage rents</link:label>
    <link:label id="lab_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F_label_en-US" xlink:label="lab_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued Income Receivable [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedIncomeReceivableMember" xlink:label="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:to="lab_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="arc" />
    <link:label id="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4_terseLabel_en-US" xlink:label="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.5% Note Receivable</link:label>
    <link:label id="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4_label_en-US" xlink:label="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Note Receivable1 [Member]</link:label>
    <link:label id="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4_documentation_en-US" xlink:label="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Note Receivable1 [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NoteReceivable1Member" xlink:label="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:to="lab_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of tenant and other receivables, net</link:label>
    <link:label id="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB_label_en-US" xlink:label="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts, Notes, Loans and Financing Receivable [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="lab_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5_terseLabel_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts</link:label>
    <link:label id="lab_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5_label_en-US" xlink:label="lab_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for Doubtful Accounts, Premiums and Other Receivables</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:to="lab_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable</link:label>
    <link:label id="lab_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGross" xlink:label="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:to="lab_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred rent receivable due to straight-line rent adjustments</link:label>
    <link:label id="lab_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043_label_en-US" xlink:label="lab_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Rent Receivables, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:to="lab_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes receivable</link:label>
    <link:label id="lab_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D_label_en-US" xlink:label="lab_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing Receivable, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:to="lab_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="arc" />
    <link:label id="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93_terseLabel_en-US" xlink:label="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Note receivable, interest rate (as a percent)</link:label>
    <link:label id="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93_label_en-US" xlink:label="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Receivable Interest Rate</link:label>
    <link:label id="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93_documentation_en-US" xlink:label="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The stated interest rate on the note receivable.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NotesReceivableInterestRate" xlink:label="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:to="lab_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_E0120E068C5ADA676DD96435BA07FCE7_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of numerator and denominator used in computation of earnings per share</link:label>
    <link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_E0120E068C5ADA676DD96435BA07FCE7_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:type="arc" />
    <link:label id="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD_negatedLabel_en-US" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less debt assumed</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:to="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74_verboseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of investment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:to="lab_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of acquired net assets (at 100% ownership)</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_8A9044638BCE0333A6F46435BA72DC04_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures and Other Related Information</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_8A9044638BCE0333A6F46435BA72DC04_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Summarized Financial Information Balance Sheet [Table Text Block]</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_8A9044638BCE0333A6F46435BA72DC04_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of summarized balance sheet financial information for investments accounted for using the equity method of accounting.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock" xlink:label="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:to="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_C0F74DDFD10B650C5B5B6435BA724C8C_terseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_C0F74DDFD10B650C5B5B6435BA724C8C_label_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments, Summarized Financial Information Statement of Operations [Table Text Block]</link:label>
    <link:label id="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_C0F74DDFD10B650C5B5B6435BA724C8C_documentation_en-US" xlink:label="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of summarized statement of operations information for investments accounted for using the equity method of accounting.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock" xlink:label="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:to="lab_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_40971771703B4C4C2C1B6435BA88AA6C_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares authorized (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesAuthorized_40971771703B4C4C2C1B6435BA88AA6C_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:to="lab_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesIssued_D1969ACF4A80CD84294B6435BA88B308_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock, shares issued (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:to="lab_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_40572A2EE405D98193A06435BA88EED9_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common Stock, shares outstanding (in shares)</link:label>
    <link:label id="lab_us-gaap_CommonStockSharesOutstanding_40572A2EE405D98193A06435BA88EED9_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:to="lab_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Related Party Transactions, by Related Party [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="lab_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="arc" />
    <link:label id="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F_terseLabel_en-US" xlink:label="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Candlestick Point</link:label>
    <link:label id="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F_label_en-US" xlink:label="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Candlestick Point [Member]</link:label>
    <link:label id="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F_documentation_en-US" xlink:label="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Candlestick Point [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_CandlestickPointMember" xlink:label="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:to="lab_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="arc" />
    <link:label id="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC_terseLabel_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Joint Ventures and Third Party Managed Properties</link:label>
    <link:label id="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC_label_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unconsolidated Joint Ventures and Third Party Managed Properties [Member]</link:label>
    <link:label id="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC_documentation_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents unconsolidated joint ventures and third-party properties that engage the entity to manage their operations.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:to="lab_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="arc" />
    <link:label id="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3_terseLabel_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unconsolidated Joint Ventures</link:label>
    <link:label id="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3_label_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unconsolidated Joint Ventures [Member]</link:label>
    <link:label id="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3_documentation_en-US" xlink:label="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents unconsolidated joint ventures.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:to="lab_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="arc" />
    <link:label id="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D_terseLabel_en-US" xlink:label="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related parties note receivable, RED Consolidated Holdings, LLC</link:label>
    <link:label id="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D_label_en-US" xlink:label="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Parties Note Receivable, RED Consolidated Holdings, LLC [Member]</link:label>
    <link:label id="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D_documentation_en-US" xlink:label="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Related Parties Note Receivable, RED Consolidated Holdings, LLC [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" xlink:label="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:to="lab_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes Receivable</link:label>
    <link:label id="lab_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F_label_en-US" xlink:label="lab_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Receivable [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:to="lab_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related party transactions</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transaction [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="lab_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Management fees</link:label>
    <link:label id="lab_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB_label_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management Fees Revenue</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:to="lab_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="arc" />
    <link:label id="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B_terseLabel_en-US" xlink:label="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Development and leasing fees</link:label>
    <link:label id="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B_label_en-US" xlink:label="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development and Leasing Fees Revenue</link:label>
    <link:label id="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B_documentation_en-US" xlink:label="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue, comprised of fees related to the development and leasing of joint venture properties and third-party managed properties.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:to="lab_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="arc" />
    <link:label id="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A_totalLabel_en-US" xlink:label="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Fees charged to unconsolidated joint ventures and third-party managed properties</link:label>
    <link:label id="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A_label_en-US" xlink:label="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Management, Development and Leasing Fees Revenue</link:label>
    <link:label id="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A_documentation_en-US" xlink:label="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue, comprised of base and incentive revenue, from developing, operating and managing another entity's business during the reporting period.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ManagementDevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:to="lab_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA_verboseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest expense, related party</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:to="lab_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="arc" />
    <link:label id="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7_terseLabel_en-US" xlink:label="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense payable, related party</link:label>
    <link:label id="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7_label_en-US" xlink:label="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense Payable Related Party</link:label>
    <link:label id="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7_documentation_en-US" xlink:label="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amount of interest expense payable as of the balance sheet date on a debt or other obligation to a related party.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_InterestExpensePayableRelatedParty" xlink:label="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:to="lab_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461_terseLabel_en-US" xlink:label="lab_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income, related party</link:label>
    <link:label id="lab_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461_label_en-US" xlink:label="lab_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Income, Related Party</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:to="lab_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41_terseLabel_en-US" xlink:label="lab_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Note receivable</link:label>
    <link:label id="lab_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41_label_en-US" xlink:label="lab_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Receivable, Related Parties</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:to="lab_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Stock by Class [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:to="lab_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:to="lab_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event Type [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:to="lab_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent event</link:label>
    <link:label id="lab_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64_label_en-US" xlink:label="lab_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:to="lab_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="arc" />
    <link:label id="lab_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:label id="lab_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="lab_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F_terseLabel_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Authorized repurchase amount</link:label>
    <link:label id="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F_label_en-US" xlink:label="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Repurchase Program, Authorized Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:to="lab_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955_negatedLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Authorized amount for accelerated stock repurchase program</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Settlement (Payment) or Receipt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="arc" />
    <link:label id="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A_terseLabel_en-US" xlink:label="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accelerated shares repurchased, number of shares purchased (shares)</link:label>
    <link:label id="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A_label_en-US" xlink:label="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchase Program, Number of Shares Purchased</link:label>
    <link:label id="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A_documentation_en-US" xlink:label="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchase Program, Number of Shares Purchased</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" xlink:label="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:to="lab_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89_terseLabel_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average price per share paid for stock repurchased for accelerated stock repurchases (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89_label_en-US" xlink:label="lab_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accelerated Share Repurchases, Final Price Paid Per Share</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:to="lab_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="arc" />
    <link:label id="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3_terseLabel_en-US" xlink:label="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of dividends declared</link:label>
    <link:label id="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3_label_en-US" xlink:label="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Dividends Declared</link:label>
    <link:label id="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3_documentation_en-US" xlink:label="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Dividends Declared</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NumberOfDividendsDeclared" xlink:label="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:to="lab_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend declared (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Declared</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:to="lab_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="arc" />
    <link:label id="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F_terseLabel_en-US" xlink:label="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum price of common stock available to be issued</link:label>
    <link:label id="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F_label_en-US" xlink:label="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Aggregate Common Stock Offer Price</link:label>
    <link:label id="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F_documentation_en-US" xlink:label="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum Aggregate Common Stock Offer Price</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MaximumAggregateCommonStockOfferPrice" xlink:label="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:to="lab_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="arc" />
    <link:label id="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48_terseLabel_en-US" xlink:label="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commission to sales agent (as a percent)</link:label>
    <link:label id="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48_label_en-US" xlink:label="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Commission to Sales Agent</link:label>
    <link:label id="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48_documentation_en-US" xlink:label="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the maximum percentage of commission to each sales agent of the proceeds from sales of common stock.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PercentageOfCommissionToSalesAgent" xlink:label="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:to="lab_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="arc" />
    <link:label id="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60_terseLabel_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrowhead Towne Center</link:label>
    <link:label id="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60_label_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrowhead Towne Center Mortgage [Member]</link:label>
    <link:label id="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60_documentation_en-US" xlink:label="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Arrowhead Towne Center property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:to="lab_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="arc" />
    <link:label id="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6_terseLabel_en-US" xlink:label="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deptford Mall One</link:label>
    <link:label id="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6_label_en-US" xlink:label="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deptford Mall Mortgage One [Member]</link:label>
    <link:label id="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6_documentation_en-US" xlink:label="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Deptford Mall property pledged as collateral, bearing interest at 5.41 percent and maturing in 2013.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageOneMember" xlink:label="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:to="lab_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="arc" />
    <link:label id="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50_terseLabel_en-US" xlink:label="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fashion Outlets of Niagara Falls USA</link:label>
    <link:label id="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50_label_en-US" xlink:label="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fashion Outlets at Niagara Mortgage [Member]</link:label>
    <link:label id="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50_documentation_en-US" xlink:label="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Fashion Outlets at Niagara pledged as collateral, bearing interest at 6.46 percent and maturing in 2016.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FashionOutletsAtNiagaraMortgageMember" xlink:label="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:to="lab_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="arc" />
    <link:label id="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0_terseLabel_en-US" xlink:label="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stonewood Center Mortgage</link:label>
    <link:label id="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0_label_en-US" xlink:label="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stonewood Center Mortgage [Member]</link:label>
    <link:label id="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0_documentation_en-US" xlink:label="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stonewood Center Mortgage [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_StonewoodCenterMortgageMember" xlink:label="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:to="lab_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="arc" />
    <link:label id="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2_terseLabel_en-US" xlink:label="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Superstition Springs Center</link:label>
    <link:label id="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2_label_en-US" xlink:label="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Superstition Springs Center [Member]</link:label>
    <link:label id="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2_documentation_en-US" xlink:label="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the joint venture, East Mesa Mall, L.L.C. - Superstition Springs Center.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:to="lab_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt premiums</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Premium</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedPremium" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D_negatedLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Debt discounts</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt premiums (discounts), net</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Unamortized Discount (Premium), Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="arc" />
    <link:label id="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101_terseLabel_en-US" xlink:label="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101_label_en-US" xlink:label="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall [Member]</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101_documentation_en-US" xlink:label="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Freehold Raceway Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMember" xlink:label="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:to="lab_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="arc" />
    <link:label id="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0_terseLabel_en-US" xlink:label="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">The Mall at Northgate</link:label>
    <link:label id="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0_label_en-US" xlink:label="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Mall at Northgate Mortgage [Member]</link:label>
    <link:label id="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0_documentation_en-US" xlink:label="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Mall at Northgate property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TheMallAtNorthgateMortgageMember" xlink:label="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:to="lab_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount of debt</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective interest rate (as a percent)</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Interest Rate, Effective Percentage</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="arc" />
    <link:label id="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667_terseLabel_en-US" xlink:label="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on early extinguishment of debt, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:to="lab_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="arc" />
    <link:label id="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164_terseLabel_en-US" xlink:label="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loan assumed by third party (as a percent)</link:label>
    <link:label id="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164_label_en-US" xlink:label="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Loan Assumed by Third Party</link:label>
    <link:label id="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164_documentation_en-US" xlink:label="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Portion of the loan assumed by a third party.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PercentageOfLoanAssumedByThirdParty" xlink:label="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:to="lab_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="arc" />
    <link:label id="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771_terseLabel_en-US" xlink:label="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable which could become recourse</link:label>
    <link:label id="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771_label_en-US" xlink:label="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mortgage Notes Payable, Probable Recourse Amount</link:label>
    <link:label id="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771_documentation_en-US" xlink:label="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the amount of mortgage notes payable which could become recourse to the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MortgageNotesPayableProbableRecourseAmount" xlink:label="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:to="lab_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="arc" />
    <link:label id="lab_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA_terseLabel_en-US" xlink:label="lab_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense capitalized</link:label>
    <link:label id="lab_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA_label_en-US" xlink:label="lab_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Costs Capitalized</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:to="lab_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of mortgage notes payable</link:label>
    <link:label id="lab_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66_label_en-US" xlink:label="lab_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes Payable, Fair Value Disclosure</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:to="lab_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="arc" />
    <link:label id="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_757A154A4949E113FE2F6435BA985FD3_label_en-US" xlink:label="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:to="lab_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:type="arc" />
    <link:label id="lab_mac_NumberOfRealEstateManagementCompanies_1631754CCAE2A06A03886435BA986AE6_terseLabel_en-US" xlink:label="lab_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of management companies (in entities)</link:label>
    <link:label id="lab_mac_NumberOfRealEstateManagementCompanies_1631754CCAE2A06A03886435BA986AE6_label_en-US" xlink:label="lab_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Real Estate Management Companies</link:label>
    <link:label id="lab_mac_NumberOfRealEstateManagementCompanies_1631754CCAE2A06A03886435BA986AE6_documentation_en-US" xlink:label="lab_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the number of management companies through which the entity provides property management, leasing and redevelopment for its real estate portfolio.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NumberOfRealEstateManagementCompanies" xlink:label="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:to="lab_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="arc" />
    <link:label id="lab_mac_DocumentAndEntityInformationAbstract_325989BD903B5BDAC8AC6435BA2098BF_label_en-US" xlink:label="lab_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document and Entity Information [Abstract]</link:label>
    <link:label id="lab_mac_DocumentAndEntityInformationAbstract_325989BD903B5BDAC8AC6435BA2098BF_documentation_en-US" xlink:label="lab_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Document and Entity Information [Abstract]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DocumentAndEntityInformationAbstract" xlink:label="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="lab_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:type="arc" />
    <link:label id="lab_dei_EntityRegistrantName_1A9CBFB5B247048946B46435BA217412_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_1A9CBFB5B247048946B46435BA217412_label_en-US" xlink:label="lab_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:to="lab_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:type="arc" />
    <link:label id="lab_dei_EntityCentralIndexKey_51AEE5915B5CC8C59C386435BA212282_terseLabel_en-US" xlink:label="lab_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:label id="lab_dei_EntityCentralIndexKey_51AEE5915B5CC8C59C386435BA212282_label_en-US" xlink:label="lab_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:to="lab_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:type="arc" />
    <link:label id="lab_dei_DocumentType_42DCC8420D6389807DC06435BA21398D_terseLabel_en-US" xlink:label="lab_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_42DCC8420D6389807DC06435BA21398D_label_en-US" xlink:label="lab_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:to="lab_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:type="arc" />
    <link:label id="lab_dei_DocumentPeriodEndDate_9E47A4F1929B9913C0966435BA216936_terseLabel_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:label id="lab_dei_DocumentPeriodEndDate_9E47A4F1929B9913C0966435BA216936_label_en-US" xlink:label="lab_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:to="lab_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:type="arc" />
    <link:label id="lab_dei_AmendmentFlag_C62526EA0F47250A44066435BA21D586_terseLabel_en-US" xlink:label="lab_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:label id="lab_dei_AmendmentFlag_C62526EA0F47250A44066435BA21D586_label_en-US" xlink:label="lab_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:to="lab_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:type="arc" />
    <link:label id="lab_dei_CurrentFiscalYearEndDate_6C9CBC2ED7BFCF7C40AC6435BA21F55E_terseLabel_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:label id="lab_dei_CurrentFiscalYearEndDate_6C9CBC2ED7BFCF7C40AC6435BA21F55E_label_en-US" xlink:label="lab_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:to="lab_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:type="arc" />
    <link:label id="lab_dei_EntityCurrentReportingStatus_479C992538F6CDF3D6926435BA21A401_terseLabel_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:label id="lab_dei_EntityCurrentReportingStatus_479C992538F6CDF3D6926435BA21A401_label_en-US" xlink:label="lab_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:to="lab_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:type="arc" />
    <link:label id="lab_dei_EntityFilerCategory_1DC2F3A2E8A2DB24C7006435BA2158B8_terseLabel_en-US" xlink:label="lab_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:label id="lab_dei_EntityFilerCategory_1DC2F3A2E8A2DB24C7006435BA2158B8_label_en-US" xlink:label="lab_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:to="lab_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:type="arc" />
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_EBF44C1131ECB267B6D46435BA213771_terseLabel_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:label id="lab_dei_EntityCommonStockSharesOutstanding_EBF44C1131ECB267B6D46435BA213771_label_en-US" xlink:label="lab_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:to="lab_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalYearFocus_15DCA00F5816D9837FD76435BA216F7E_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalYearFocus_15DCA00F5816D9837FD76435BA216F7E_label_en-US" xlink:label="lab_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:to="lab_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:type="arc" />
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_51F7AB4AA939F487140D6435BA21DEF1_terseLabel_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:label id="lab_dei_DocumentFiscalPeriodFocus_51F7AB4AA939F487140D6435BA21DEF1_label_en-US" xlink:label="lab_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</link:label>
    <link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:to="lab_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing</link:label>
    <link:label id="lab_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7_label_en-US" xlink:label="lab_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs, Leasing, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsLeasingGross" xlink:label="loc_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:to="lab_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets:</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGrossAbstract" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">In-place lease values</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Asset, Acquired-in-Place Leases</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:type="arc" />
    <link:label id="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E_terseLabel_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasing commissions and legal costs</link:label>
    <link:label id="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E_label_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-lived Intangible Asset Leasing Commissions and Legal Costs</link:label>
    <link:label id="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E_documentation_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross carrying amount before accumulated amortization as of the balance sheet date of capitalized leasing commissions and lease-related legal costs.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts" xlink:label="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:to="lab_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:type="arc" />
    <link:label id="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839_terseLabel_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above-market leases</link:label>
    <link:label id="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839_label_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite Lived Intangible Asset above Market Leases</link:label>
    <link:label id="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839_documentation_en-US" xlink:label="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gross carrying amount before accumulated amortization as of the balance sheet date of the intangible asset for leases acquired as part of a real property acquisition at above market lease rate.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetAboveMarketLeases" xlink:label="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:to="lab_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred compensation plan assets</link:label>
    <link:label id="lab_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C_label_en-US" xlink:label="lab_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Compensation Plan Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCompensationPlanAssets" xlink:label="loc_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:to="lab_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F_label_en-US" xlink:label="lab_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets, Miscellaneous</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMiscellaneous" xlink:label="loc_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:to="lab_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:type="arc" />
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205_totalLabel_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred charges and other assets, gross</link:label>
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205_label_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs and Other Assets, Gross</link:label>
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205_documentation_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sum of the gross carrying amounts before accumulated amortization of deferred costs that are expected to be recognized as a charge against future earnings plus assets not otherwise specified in the taxonomy.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsGross" xlink:label="loc_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:to="lab_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:type="arc" />
    <link:label id="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69_negatedLabel_en-US" xlink:label="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less accumulated amortization</link:label>
    <link:label id="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69_label_en-US" xlink:label="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated Amortization Deferred Costs and Finite-lived Intangible Assets</link:label>
    <link:label id="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69_documentation_en-US" xlink:label="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The accumulated amount of amortization related to deferred costs capitalized at the end of the reporting period and finite-lived intangible assets.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets" xlink:label="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:to="lab_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:type="arc" />
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D_totalLabel_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred charges and other assets, net</link:label>
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D_label_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Costs and Other Assets, Net</link:label>
    <link:label id="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D_documentation_en-US" xlink:label="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against future earnings plus assets not otherwise specified in the taxonomy.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsNet" xlink:label="loc_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:to="lab_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated amortization for intangible assets</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:type="arc" />
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization expense for intangible assets</link:label>
    <link:label id="lab_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88_label_en-US" xlink:label="lab_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortization of Intangible Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:to="lab_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:to="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive Securities [Axis]</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive Securities, Name [Domain]</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities, Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:to="lab_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="arc" />
    <link:label id="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E_terseLabel_en-US" xlink:label="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Convertible non-participating preferred units</link:label>
    <link:label id="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E_label_en-US" xlink:label="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Preferred Nonparticipating Convertible Units [Member]</link:label>
    <link:label id="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E_documentation_en-US" xlink:label="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents convertible non-participating units or equivalent units of ownership interest in an LLC or LP.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PreferredNonparticipatingConvertibleUnitsMember" xlink:label="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:to="lab_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="arc" />
    <link:label id="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2_terseLabel_en-US" xlink:label="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partnership unit</link:label>
    <link:label id="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2_label_en-US" xlink:label="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Partnership Units [Member]</link:label>
    <link:label id="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2_documentation_en-US" xlink:label="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents units or equivalent units of ownership interest in an LLC or LP.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PartnershipUnitsMember" xlink:label="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:to="lab_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Securities excluded from Diluted EPS (in shares)</link:label>
    <link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Numerator</link:label>
    <link:label id="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="lab_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:type="arc" />
    <link:label id="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E_negatedLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to noncontrolling interests</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:to="lab_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:type="arc" />
    <link:label id="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770_negatedLabel_en-US" xlink:label="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allocation of earnings to participating securities</link:label>
    <link:label id="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770_label_en-US" xlink:label="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undistributed Earnings (Loss) Allocated to Participating Securities, Basic and Diluted</link:label>
    <link:label id="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770_documentation_en-US" xlink:label="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Undistributed Earnings (Loss) Allocated to Participating Securities, Basic and Diluted</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:to="lab_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:type="arc" />
    <link:label id="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8_totalLabel_en-US" xlink:label="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Numerator for basic and diluted earnings per share&#8212;net income attributable to common stockholders</link:label>
    <link:label id="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8_label_en-US" xlink:label="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders after Allocation to Participating Securities, Basic and Diluted</link:label>
    <link:label id="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8_documentation_en-US" xlink:label="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders after Allocation to Participating Securities, Basic and Diluted</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:to="lab_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Denominator</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Denominator for basic earnings per share&#8212;weighted average number of common shares outstanding (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:to="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of dilutive securities:</link:label>
    <link:label id="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:to="lab_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C_terseLabel_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share and unit-based compensation plans (in shares)</link:label>
    <link:label id="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C_label_en-US" xlink:label="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:to="lab_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:type="arc" />
    <link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Denominator for diluted earnings per share&#8212;weighted average number of common shares outstanding (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:to="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4BE167ED8379D04DCFFD6435BA3530A2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of income tax benefit of TRSs</link:label>
    <link:label id="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4BE167ED8379D04DCFFD6435BA3530A2_label_en-US" xlink:label="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:to="lab_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Acquired Finite-Lived Intangible Asset by Major Class [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Acquired Finite-Lived Intangible Asset by Major Class [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable" xlink:label="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:to="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="arc" />
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB_terseLabel_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Above-Market Leases</link:label>
    <link:label id="lab_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB_label_en-US" xlink:label="lab_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Above Market Leases [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AboveMarketLeasesMember" xlink:label="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:to="lab_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="arc" />
    <link:label id="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C_terseLabel_en-US" xlink:label="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Below-Market Leases</link:label>
    <link:label id="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C_label_en-US" xlink:label="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease [Member]</link:label>
    <link:label id="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C_documentation_en-US" xlink:label="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Below Market Lease [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BelowMarketLeaseMember" xlink:label="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:to="lab_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="arc" />
    <link:label id="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7_terseLabel_en-US" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocated values of leases</link:label>
    <link:label id="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7_label_en-US" xlink:label="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquired Finite-Lived Intangible Assets [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="lab_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997_terseLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Original allocated value</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195_negatedLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less accumulated amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="arc" />
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0_totalLabel_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Allocated value net</link:label>
    <link:label id="lab_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0_label_en-US" xlink:label="lab_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite-Lived Intangible Assets, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:to="lab_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="arc" />
    <link:label id="lab_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13_terseLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Original allocated value</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseGross" xlink:label="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:to="lab_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="arc" />
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618_negatedLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less accumulated amortization</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Accumulated Amortization</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:to="lab_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="arc" />
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772_totalLabel_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:label id="lab_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772_label_en-US" xlink:label="lab_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Below Market Lease, Net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:to="lab_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="arc" />
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_7782E4839EFAA932479A6435BA61D9AA_terseLabel_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation cost under share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_AllocatedShareBasedCompensationExpense_7782E4839EFAA932479A6435BA61D9AA_label_en-US" xlink:label="lab_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allocated Share-based Compensation Expense</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:to="lab_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8_terseLabel_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SARs</link:label>
    <link:label id="lab_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8_label_en-US" xlink:label="lab_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock Appreciation Rights (SARs) [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:to="lab_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771_verboseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">SARs (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of period (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Exercised (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="arc" />
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2_terseLabel_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Special dividend adjustment (in shares)</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2_label_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2_documentation_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:to="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of period (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:type="arc" />
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990_verboseLabel_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Special dividend adjustment (in dollars per share)</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990_label_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment, Weighted Average Grant Date Fair Value</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990_documentation_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:to="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock Options (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of period (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in shares)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="arc" />
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A_negatedLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Exercised (in shares)</link:label>
    <link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="arc" />
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678_terseLabel_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Special dividend adjustment (in shares)</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678_label_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Special Dividend Adjustment</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678_documentation_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Special Dividend Adjustment</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:to="lab_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of period (in shares)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0_periodStartLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of period (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Granted (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exercised (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="arc" />
    <link:label id="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2_terseLabel_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Special dividend adjustment (in dollars per share)</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2_label_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Special Dividend Adjustment, Weighted Average Exercise Price</link:label>
    <link:label id="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2_documentation_en-US" xlink:label="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Special Dividend Adjustment, Weighted Average Exercise Price</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice" xlink:label="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:to="lab_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="arc" />
    <link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73_periodEndLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of period (in dollars per share)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:to="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:type="arc" />
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_410E599C62DBA85367876435BB8C297D_terseLabel_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank and Other Notes Payable:</link:label>
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_410E599C62DBA85367876435BB8C297D_label_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Convertible Debt, Line of Credit and Other Notes Payable [Text Block]</link:label>
    <link:label id="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_410E599C62DBA85367876435BB8C297D_documentation_en-US" xlink:label="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This element encapsulates disclosure pertaining to bank and other notes payable of the entity during the period. Bank and other notes payable include senior notes, term loans, line of credit and other notes.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock" xlink:label="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:to="lab_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:type="arc" />
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_BBAF46252F01F1B698696435BB8463C6_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Related-Party Transactions:</link:label>
    <link:label id="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_BBAF46252F01F1B698696435BB8463C6_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:to="lab_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:type="arc" />
    <link:label id="lab_us-gaap_NatureOfOperations_7616B7277F28956C77D66435BB8603A0_terseLabel_en-US" xlink:label="lab_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Organization:</link:label>
    <link:label id="lab_us-gaap_NatureOfOperations_7616B7277F28956C77D66435BB8603A0_label_en-US" xlink:label="lab_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nature of Operations [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="loc_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:to="lab_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:type="arc" />
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareCashPaid_46ACD8C2D0D0CE0124FD6435B9C2D6FB_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distributions paid, per share (in dollars per share)</link:label>
    <link:label id="lab_us-gaap_CommonStockDividendsPerShareCashPaid_46ACD8C2D0D0CE0124FD6435B9C2D6FB_label_en-US" xlink:label="lab_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock, Dividends, Per Share, Cash Paid</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:to="lab_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:type="arc" />
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72_terseLabel_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72_label_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72_documentation_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:to="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="arc" />
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E_terseLabel_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred charges</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E_label_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Charges</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E_documentation_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Charges</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:to="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="arc" />
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD_terseLabel_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD_label_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD_documentation_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:to="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets acquired</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="arc" />
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD_terseLabel_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage note payable</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD_label_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Note Payable</link:label>
    <link:label id="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD_documentation_en-US" xlink:label="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Note Payable</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:to="lab_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other accrued liabilities</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities assumed</link:label>
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="arc" />
    <link:label id="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B_totalLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Fair value of acquired net assets (at 100% ownership)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:to="lab_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="arc" />
    <link:label id="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Significant Accounting Policies:</link:label>
    <link:label id="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE_label_en-US" xlink:label="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basis of Presentation and Significant Accounting Policies [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:to="lab_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:type="arc" />
    <link:label id="lab_us-gaap_Land_64DC027B14814F0900BD6435B97D0E52_terseLabel_en-US" xlink:label="lab_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:label id="lab_us-gaap_Land_64DC027B14814F0900BD6435B97D0E52_label_en-US" xlink:label="lab_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Land" xlink:label="loc_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:to="lab_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:type="arc" />
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_3CB639AE7A7B376699DB6435B97E6F0A_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings and improvements</link:label>
    <link:label id="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_3CB639AE7A7B376699DB6435B97E6F0A_label_en-US" xlink:label="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment Building and Building Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:to="lab_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:type="arc" />
    <link:label id="lab_us-gaap_TenantImprovements_2AC69EB77F78097D4D746435B97E0259_terseLabel_en-US" xlink:label="lab_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tenant improvements</link:label>
    <link:label id="lab_us-gaap_TenantImprovements_2AC69EB77F78097D4D746435B97E0259_label_en-US" xlink:label="lab_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tenant Improvements</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantImprovements" xlink:label="loc_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:to="lab_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:type="arc" />
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_8918BFA2AD39D2967D536435B97ED142_terseLabel_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equipment and furnishings</link:label>
    <link:label id="lab_us-gaap_FixturesAndEquipmentGross_8918BFA2AD39D2967D536435B97ED142_label_en-US" xlink:label="lab_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixtures and Equipment, Gross</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FixturesAndEquipmentGross" xlink:label="loc_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:to="lab_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:type="arc" />
    <link:label id="lab_us-gaap_DevelopmentInProcess_4BE8F02CACA6B766A5E26435B97E973F_terseLabel_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Construction in progress</link:label>
    <link:label id="lab_us-gaap_DevelopmentInProcess_4BE8F02CACA6B766A5E26435B97E973F_label_en-US" xlink:label="lab_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Development in Process</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="loc_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:to="lab_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_FA8A562F43A6BF860D1B6435B97ED4C4_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_FA8A562F43A6BF860D1B6435B97ED4C4_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, at Cost</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_49039791996E3F9E45946435B97EFC76_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less accumulated depreciation</link:label>
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_49039791996E3F9E45946435B97EFC76_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Accumulated Depreciation</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:type="arc" />
    <link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_2D72894C8DB73953ABF76435B97EA0C0_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Property, net</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:type="arc" />
    <link:label id="lab_mac_CoVentureArrangementDisclosureAbstract_563701E2E10287334E106435B9A17C9E_label_en-US" xlink:label="lab_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Co-Venture Arrangement:</link:label>
    <link:label id="lab_mac_CoVentureArrangementDisclosureAbstract_563701E2E10287334E106435B9A17C9E_documentation_en-US" xlink:label="lab_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" />
    <link:loc xlink:href="mac-20160331.xsd#mac_CoVentureArrangementDisclosureAbstract" xlink:label="loc_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:to="lab_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:type="arc" />
    <link:label id="lab_mac_CoVentureArrangementDisclosureTextBlock_D2F9275153F445BD29226435B9A10CBF_terseLabel_en-US" xlink:label="lab_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Co-Venture Arrangement:</link:label>
    <link:label id="lab_mac_CoVentureArrangementDisclosureTextBlock_D2F9275153F445BD29226435B9A10CBF_label_en-US" xlink:label="lab_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Co-venture Arrangement Disclosure [Text Block]</link:label>
    <link:label id="lab_mac_CoVentureArrangementDisclosureTextBlock_D2F9275153F445BD29226435B9A10CBF_documentation_en-US" xlink:label="lab_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This text block represents complete disclosure with respect to co-venture arrangements.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_CoVentureArrangementDisclosureTextBlock" xlink:label="loc_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:to="lab_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of recognized identified assets acquired and liabilities assumed</link:label>
    <link:label id="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:to="lab_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of gain on remeasurement of existing investment</link:label>
    <link:label id="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA_label_en-US" xlink:label="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Business Acquisition, Preexisting Investment Fair Value Adjustment [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA_documentation_en-US" xlink:label="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of a fair value adjustment to an existing investment made in connection with a business acquisition.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock" xlink:label="loc_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:to="lab_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of reconciliation of the purchase price to the fair value of the acquired net assets</link:label>
    <link:label id="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D_label_en-US" xlink:label="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Reconciliation of Purchase Price to Fair Value of Acquired, Net Assets [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D_documentation_en-US" xlink:label="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of reconciliation of the purchase price to the fair value of the acquired net assets in a business combination.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock" xlink:label="loc_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:to="lab_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:type="arc" />
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_C20D20A92ED716AE77386435BA62EB46_terseLabel_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Unconsolidated Joint Ventures:</link:label>
    <link:label id="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_C20D20A92ED716AE77386435BA62EB46_label_en-US" xlink:label="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Method Investments and Joint Ventures Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:to="lab_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_A4173535CECE0AC6322A6435B96BB8F7_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable</link:label>
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_A4173535CECE0AC6322A6435B96BB8F7_label_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Mortgage Notes Payable [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_A4173535CECE0AC6322A6435B96BB8F7_documentation_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">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.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfMortgageNotesPayableTableTextBlock" xlink:label="loc_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:to="lab_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_A1BB7E113C3594249A306435B96BA1A4_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt premiums (discounts) on mortgage notes payable</link:label>
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_A1BB7E113C3594249A306435B96BA1A4_label_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Mortgage Notes Payable Premiums Discounts [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_A1BB7E113C3594249A306435B96BA1A4_documentation_en-US" xlink:label="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of debt premiums and discounts on mortgage loans payable by the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock" xlink:label="loc_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:to="lab_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Table]</link:label>
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Groups, Including Discontinued Operations [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="arc" />
    <link:label id="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C_terseLabel_en-US" xlink:label="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Great Northern Mall</link:label>
    <link:label id="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C_label_en-US" xlink:label="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Great Northern Mall [Member]</link:label>
    <link:label id="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C_documentation_en-US" xlink:label="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Great Northern Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMember" xlink:label="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:to="lab_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="arc" />
    <link:label id="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3_terseLabel_en-US" xlink:label="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Panorama Mall [Member]</link:label>
    <link:label id="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3_label_en-US" xlink:label="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Panorama Mall [Member]</link:label>
    <link:label id="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3_documentation_en-US" xlink:label="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Panorama Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PanoramaMallMember" xlink:label="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:to="lab_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="arc" />
    <link:label id="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0_terseLabel_en-US" xlink:label="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Great Northern Mall</link:label>
    <link:label id="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0_label_en-US" xlink:label="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Great Northern Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0_documentation_en-US" xlink:label="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Great Northern Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMortgageMember" xlink:label="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:to="lab_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discontinued Operations:</link:label>
    <link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:type="arc" />
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F_terseLabel_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property area (in square feet)</link:label>
    <link:label id="lab_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F_label_en-US" xlink:label="lab_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Area of Real Estate Property</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:to="lab_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="arc" />
    <link:label id="lab_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from sale</link:label>
    <link:label id="lab_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Businesses</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:to="lab_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain (loss) on disposal</link:label>
    <link:label id="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A_label_en-US" xlink:label="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:label="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:to="lab_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="arc" />
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_FA0C38EF7B8E5A989C4D6435B9995308_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, net:</link:label>
    <link:label id="lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_FA0C38EF7B8E5A989C4D6435B9995308_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:type="arc" />
    <link:label id="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99_terseLabel_en-US" xlink:label="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chandler Fashion Center</link:label>
    <link:label id="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99_label_en-US" xlink:label="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chandler Fashion Center Mortgage [Member]</link:label>
    <link:label id="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99_documentation_en-US" xlink:label="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Chandler Fashion Center property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMortgageMember" xlink:label="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:to="lab_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="arc" />
    <link:label id="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6_terseLabel_en-US" xlink:label="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Danbury Fair Mall</link:label>
    <link:label id="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6_label_en-US" xlink:label="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Danbury Fair Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6_documentation_en-US" xlink:label="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Danbury Fair Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DanburyFairMallMortgageMember" xlink:label="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:to="lab_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="arc" />
    <link:label id="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29_terseLabel_en-US" xlink:label="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deptford Mall Two</link:label>
    <link:label id="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29_label_en-US" xlink:label="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deptford Mall Mortgage Two [Member]</link:label>
    <link:label id="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29_documentation_en-US" xlink:label="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Deptford Mall property pledged as collateral, bearing interest at 6.46 percent and maturing in 2016.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageTwoMember" xlink:label="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:to="lab_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="arc" />
    <link:label id="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D_terseLabel_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fashion Outlets of Chicago</link:label>
    <link:label id="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D_label_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fashion Outlets of Chicago Mortgage [Member]</link:label>
    <link:label id="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D_documentation_en-US" xlink:label="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Fashion Outlets of Chicago property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMortgageMember" xlink:label="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:to="lab_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="arc" />
    <link:label id="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151_terseLabel_en-US" xlink:label="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Flagstaff Mall</link:label>
    <link:label id="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151_label_en-US" xlink:label="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Flagstaff Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151_documentation_en-US" xlink:label="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Flagstaff Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FlagstaffMallMortgageMember" xlink:label="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:to="lab_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="arc" />
    <link:label id="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC_terseLabel_en-US" xlink:label="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FlatIron Crossing</link:label>
    <link:label id="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC_label_en-US" xlink:label="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Flat Iron Crossing Mortgage [Member]</link:label>
    <link:label id="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC_documentation_en-US" xlink:label="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the FlatIron Crossing property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMortgageMember" xlink:label="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:to="lab_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="arc" />
    <link:label id="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9_terseLabel_en-US" xlink:label="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9_label_en-US" xlink:label="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9_documentation_en-US" xlink:label="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Freehold Raceway Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMortgageMember" xlink:label="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:to="lab_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="arc" />
    <link:label id="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA_terseLabel_en-US" xlink:label="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Green Acres Mall</link:label>
    <link:label id="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA_label_en-US" xlink:label="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Green Acres Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA_documentation_en-US" xlink:label="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Green Acres Mall Mortgage [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_GreenAcresMallMortgageMember" xlink:label="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:to="lab_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="arc" />
    <link:label id="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570_terseLabel_en-US" xlink:label="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Kings Plaza</link:label>
    <link:label id="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570_label_en-US" xlink:label="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Kings Plaza Mortgage [Member]</link:label>
    <link:label id="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570_documentation_en-US" xlink:label="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Kings Plaza property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_KingsPlazaMortgageMember" xlink:label="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:to="lab_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="arc" />
    <link:label id="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31_verboseLabel_en-US" xlink:label="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">The Oaks</link:label>
    <link:label id="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31_label_en-US" xlink:label="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">The Oaks One Mortgage [Member]</link:label>
    <link:label id="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31_documentation_en-US" xlink:label="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Oaks property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TheOaksOneMortgageMember" xlink:label="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:to="lab_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="arc" />
    <link:label id="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F_terseLabel_en-US" xlink:label="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pacific View</link:label>
    <link:label id="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F_label_en-US" xlink:label="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pacific View Mortgage [Member]</link:label>
    <link:label id="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F_documentation_en-US" xlink:label="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Pacific View property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PacificViewMortgageMember" xlink:label="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:to="lab_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="arc" />
    <link:label id="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D_terseLabel_en-US" xlink:label="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Queens Center</link:label>
    <link:label id="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D_label_en-US" xlink:label="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Queens Center [Member]</link:label>
    <link:label id="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D_documentation_en-US" xlink:label="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the joint venture, Queens Center.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_QueensCenterMember" xlink:label="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:to="lab_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="arc" />
    <link:label id="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4_terseLabel_en-US" xlink:label="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Santa Monica Place</link:label>
    <link:label id="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4_label_en-US" xlink:label="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Santa Monica Place Mortgage [Member]</link:label>
    <link:label id="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4_documentation_en-US" xlink:label="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on Santa Monica Place property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SantaMonicaPlaceMortgageMember" xlink:label="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:to="lab_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="arc" />
    <link:label id="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8_terseLabel_en-US" xlink:label="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">SanTan Village Regional Center</link:label>
    <link:label id="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8_label_en-US" xlink:label="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">San Tan Village Regional Center Mortgage [Member]</link:label>
    <link:label id="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8_documentation_en-US" xlink:label="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the SanTan Village Regional Center property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SanTanVillageRegionalCenterMortgageMember" xlink:label="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:to="lab_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="arc" />
    <link:label id="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC_terseLabel_en-US" xlink:label="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Towne Mall</link:label>
    <link:label id="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC_label_en-US" xlink:label="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Towne Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC_documentation_en-US" xlink:label="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Towne Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TowneMallMortgageMember" xlink:label="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:to="lab_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="arc" />
    <link:label id="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A_terseLabel_en-US" xlink:label="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tucson La Encantada</link:label>
    <link:label id="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A_label_en-US" xlink:label="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tucson La Encantada Mortgage [Member]</link:label>
    <link:label id="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A_documentation_en-US" xlink:label="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Tucson La Encantada property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TucsonLaEncantadaMortgageMember" xlink:label="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:to="lab_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="arc" />
    <link:label id="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4_terseLabel_en-US" xlink:label="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mall of Victor Valley</link:label>
    <link:label id="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4_label_en-US" xlink:label="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mall of Victor Valley Mortgage [Member]</link:label>
    <link:label id="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4_documentation_en-US" xlink:label="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Mall of Victor Valley property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_MallOfVictorValleyMortgageMember" xlink:label="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:to="lab_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="arc" />
    <link:label id="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A_terseLabel_en-US" xlink:label="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vintage Faire Mall</link:label>
    <link:label id="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A_label_en-US" xlink:label="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vintage Faire Mall Mortgage [Member]</link:label>
    <link:label id="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A_documentation_en-US" xlink:label="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Vintage Faire Mall property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_VintageFaireMallMortgageMember" xlink:label="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:to="lab_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="arc" />
    <link:label id="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840_terseLabel_en-US" xlink:label="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Westside Pavilion</link:label>
    <link:label id="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840_label_en-US" xlink:label="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Westside Pavilion Mortgage [Member]</link:label>
    <link:label id="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840_documentation_en-US" xlink:label="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mortgage note payable on the Westside Pavilion property pledged as collateral.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_WestsidePavilionMortgageMember" xlink:label="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:to="lab_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="arc" />
    <link:label id="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85_verboseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying Amount of Mortgage Notes, Related Party</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:to="lab_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="arc" />
    <link:label id="lab_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9_verboseLabel_en-US" xlink:label="lab_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Carrying Amount of Mortgage Notes, Other</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:to="lab_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="arc" />
    <link:label id="lab_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Monthly Debt Service</link:label>
    <link:label id="lab_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt Instrument, Periodic Payment</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:to="lab_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:to="lab_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:label id="lab_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36_label_en-US" xlink:label="lab_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="lab_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="arc" />
    <link:label id="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160_terseLabel_en-US" xlink:label="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitola Mall [Member]</link:label>
    <link:label id="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160_label_en-US" xlink:label="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitola Mall [Member]</link:label>
    <link:label id="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160_documentation_en-US" xlink:label="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Capitola Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_CapitolaMallMember" xlink:label="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:to="lab_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent events</link:label>
    <link:label id="lab_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7_label_en-US" xlink:label="lab_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="lab_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:type="arc" />
    <link:label id="lab_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF_terseLabel_en-US" xlink:label="lab_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax benefit</link:label>
    <link:label id="lab_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF_label_en-US" xlink:label="lab_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:to="lab_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:type="arc" />
    <link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Current</link:label>
    <link:label id="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF_label_en-US" xlink:label="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:to="lab_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Deferred</link:label>
    <link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:type="arc" />
    <link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8_negatedTotalLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:type="resource" xml:lang="en-US">Income tax (expense) benefit</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of net deferred tax assets</link:label>
    <link:label id="lab_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73_label_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Net [Abstract]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:label="loc_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:to="lab_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:type="arc" />
    <link:label id="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4_verboseLabel_en-US" xlink:label="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net deferred tax assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:to="lab_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:label id="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B_label_en-US" xlink:label="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Variable Interest Entities [Table]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="lab_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="arc" />
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:to="lab_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="arc" />
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D_terseLabel_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:label id="lab_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D_label_en-US" xlink:label="lab_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Sheet Location [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="lab_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="arc" />
    <link:label id="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580_terseLabel_en-US" xlink:label="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Properties, net</link:label>
    <link:label id="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580_label_en-US" xlink:label="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net [Member]</link:label>
    <link:label id="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580_documentation_en-US" xlink:label="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Real Estate Investment Property, Net [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_RealEstateInvestmentPropertyNetMember" xlink:label="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:to="lab_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</link:label>
    <link:label id="lab_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456_label_en-US" xlink:label="lab_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Assets [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMember" xlink:label="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:to="lab_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="arc" />
    <link:label id="lab_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8_terseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortgage notes payable</link:label>
    <link:label id="lab_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8_label_en-US" xlink:label="lab_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Secured Debt [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebtMember" xlink:label="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:to="lab_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="arc" />
    <link:label id="lab_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3_terseLabel_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities</link:label>
    <link:label id="lab_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3_label_en-US" xlink:label="lab_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesMember" xlink:label="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:to="lab_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entities [Axis]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entities [Axis]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:to="lab_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="arc" />
    <link:label id="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3_terseLabel_en-US" xlink:label="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Classification [Domain]</link:label>
    <link:label id="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3_label_en-US" xlink:label="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Classification [Domain]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:to="lab_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Partnership</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Primary Beneficiary [Member]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:to="lab_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity [Line Items]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="lab_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating partnership</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Consolidated, Carrying Amount, Assets</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:to="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="arc" />
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90_terseLabel_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating partnership</link:label>
    <link:label id="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90_label_en-US" xlink:label="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Interest Entity, Consolidated, Carrying Amount, Liabilities</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:to="lab_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_4C963DACE202122169C16435B99A3073_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of deferred charges and other assets, net</link:label>
    <link:label id="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_4C963DACE202122169C16435B99A3073_label_en-US" xlink:label="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Other Assets [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:to="lab_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_DB4979F2F7FED14F59006435B99AB24C_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocated values of above-market leases and below-market leases</link:label>
    <link:label id="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_DB4979F2F7FED14F59006435B99AB24C_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock" xlink:label="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:to="lab_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_918AF53CD50C3A9D47756435BA269908_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation cost under the share and unit-based plans</link:label>
    <link:label id="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_918AF53CD50C3A9D47756435BA269908_label_en-US" xlink:label="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:to="lab_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_209A87780FC961179DCC6435BA26EF52_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units</link:label>
    <link:label id="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_209A87780FC961179DCC6435BA26EF52_label_en-US" xlink:label="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation, LTIP Units Award, Activity [Table Text Block]</link:label>
    <link:label id="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_209A87780FC961179DCC6435BA26EF52_documentation_en-US" xlink:label="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tabular disclosure of the changes in outstanding nonvested Long-Term Incentive Plan ("LTIP") units, stock awards, phantom stock and stock units.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock" xlink:label="loc_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:to="lab_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:type="arc" />
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_3105052C56E0EB6FD6756435BA26CA9E_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of activity of SARs and stock options outstanding</link:label>
    <link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_3105052C56E0EB6FD6756435BA26CA9E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Share-based Compensation, Stock Appreciation Rights Award Activity [Table Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:to="lab_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Joint Ventures [Table]</link:label>
    <link:label id="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5_label_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Joint Ventures [Table]</link:label>
    <link:label id="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5_documentation_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">A schedule providing information pertaining to the joint venture interests of the entity.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesTable" xlink:label="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:to="lab_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="arc" />
    <link:label id="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63_terseLabel_en-US" xlink:label="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall and Chandler Fashion Center</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63_label_en-US" xlink:label="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Freehold Raceway Mall and Chandler Fashion Center [Member]</link:label>
    <link:label id="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63_documentation_en-US" xlink:label="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to the Freehold Raceway Mall and Chandler Fashion Center properties.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallAndChandlerFashionCenterMember" xlink:label="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:to="lab_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="arc" />
    <link:label id="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD_terseLabel_en-US" xlink:label="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chandler Fashion Center</link:label>
    <link:label id="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD_label_en-US" xlink:label="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chandler Fashion Center [Member]</link:label>
    <link:label id="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD_documentation_en-US" xlink:label="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Chandler Fashion Center.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMember" xlink:label="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:to="lab_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="arc" />
    <link:label id="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE_terseLabel_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Co-Venture Arrangement:</link:label>
    <link:label id="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE_label_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule of Joint Ventures [Line Items]</link:label>
    <link:label id="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE_documentation_en-US" xlink:label="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">-- None. No documentation exists for this element. --</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesLineItems" xlink:label="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="lab_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:type="arc" />
    <link:label id="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042_terseLabel_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of loan assumed by third party (as a percent)</link:label>
    <link:label id="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042_label_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint Venture Ownership Percentage Sold</link:label>
    <link:label id="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042_documentation_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The percentage of ownership interest in the joint venture sold by the entity during the period.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentageSold" xlink:label="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:to="lab_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="arc" />
    <link:label id="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396_terseLabel_en-US" xlink:label="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sears Locations</link:label>
    <link:label id="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396_label_en-US" xlink:label="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sears Locations [Member]</link:label>
    <link:label id="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396_documentation_en-US" xlink:label="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sears Locations [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SearsLocationsMember" xlink:label="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:to="lab_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="arc" />
    <link:label id="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847_terseLabel_en-US" xlink:label="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Country Club Plaza</link:label>
    <link:label id="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847_label_en-US" xlink:label="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country Club Plaza [Member]</link:label>
    <link:label id="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847_documentation_en-US" xlink:label="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Country Club Plaza [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_CountryClubPlazaMember" xlink:label="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:to="lab_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="arc" />
    <link:label id="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0_terseLabel_en-US" xlink:label="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PPR Portfolio</link:label>
    <link:label id="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0_label_en-US" xlink:label="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PPR Portfolio [Member]</link:label>
    <link:label id="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0_documentation_en-US" xlink:label="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PPR Portfolio [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_PPRPortfolioMember" xlink:label="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:to="lab_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="arc" />
    <link:label id="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711_terseLabel_en-US" xlink:label="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lakewood Center</link:label>
    <link:label id="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711_label_en-US" xlink:label="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lakewood Center [Member]</link:label>
    <link:label id="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711_documentation_en-US" xlink:label="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Lakewood Center [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_LakewoodCenterMember" xlink:label="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:to="lab_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="arc" />
    <link:label id="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7_terseLabel_en-US" xlink:label="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Los Cerritos Center</link:label>
    <link:label id="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7_label_en-US" xlink:label="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Los Cerritos Center [Member]</link:label>
    <link:label id="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7_documentation_en-US" xlink:label="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Los Cerritos Center [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_LosCerritosCenterMember" xlink:label="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:to="lab_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="arc" />
    <link:label id="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1_terseLabel_en-US" xlink:label="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">South Plains Mall</link:label>
    <link:label id="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1_label_en-US" xlink:label="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South Plains Mall [Member]</link:label>
    <link:label id="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1_documentation_en-US" xlink:label="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, South Plains Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_SouthPlainsMallMember" xlink:label="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:to="lab_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="arc" />
    <link:label id="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3_terseLabel_en-US" xlink:label="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Washington Square</link:label>
    <link:label id="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3_label_en-US" xlink:label="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Washington Square [Member]</link:label>
    <link:label id="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3_documentation_en-US" xlink:label="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Washington Square [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_WashingtonSquareMember" xlink:label="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:to="lab_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="arc" />
    <link:label id="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF_terseLabel_en-US" xlink:label="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deptford Mall</link:label>
    <link:label id="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF_label_en-US" xlink:label="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deptford Mall [Member]</link:label>
    <link:label id="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF_documentation_en-US" xlink:label="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Deptford Mall.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMember" xlink:label="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:to="lab_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="arc" />
    <link:label id="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29_terseLabel_en-US" xlink:label="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FlatIron Crossing</link:label>
    <link:label id="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29_label_en-US" xlink:label="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FlatIron Crossing [Member]</link:label>
    <link:label id="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29_documentation_en-US" xlink:label="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FlatIron Crossing [Member]</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMember" xlink:label="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:to="lab_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="arc" />
    <link:label id="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA_terseLabel_en-US" xlink:label="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Twenty Ninth Street</link:label>
    <link:label id="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA_label_en-US" xlink:label="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Twenty Ninth Street [Member]</link:label>
    <link:label id="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA_documentation_en-US" xlink:label="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Represents the information pertaining to real estate property of the entity, Twenty Ninth Street.</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_TwentyNinthStreetMember" xlink:label="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:to="lab_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="arc" />
    <link:label id="lab_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt repaid</link:label>
    <link:label id="lab_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of Debt</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:to="lab_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="arc" />
    <link:label id="lab_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of stores</link:label>
    <link:label id="lab_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C_label_en-US" xlink:label="lab_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Stores</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfStores" xlink:label="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:to="lab_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="arc" />
    <link:label id="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4_terseLabel_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership percentage acquired</link:label>
    <link:label id="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4_label_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint Venture Ownership Percentage Purchased</link:label>
    <link:label id="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4_documentation_en-US" xlink:label="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Joint Venture Ownership Percentage Purchased</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentagePurchased" xlink:label="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:to="lab_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="arc" />
    <link:label id="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D_verboseLabel_en-US" xlink:label="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Gain on remeasurement, sale or write down of assets, net</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:to="lab_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="arc" />
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6_terseLabel_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Cash</link:label>
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6_label_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Cash</link:label>
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6_documentation_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Cash</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessCash" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:to="lab_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="arc" />
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8_terseLabel_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Assumption of Debt</link:label>
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8_label_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Assumption of Debt</link:label>
    <link:label id="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8_documentation_en-US" xlink:label="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from Divestiture of Business, Assumption of Debt</link:label>
    <link:loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessAssumptionofDebt" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:to="lab_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="arc" />
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_233C37B23CEE550E89716435B9863696_terseLabel_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share and Unit-Based Plans:</link:label>
    <link:label id="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_233C37B23CEE550E89716435B9863696_label_en-US" xlink:label="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:to="lab_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:type="arc" />
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8_terseLabel_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Events:</link:label>
    <link:label id="lab_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Events [Text Block]</link:label>
    <link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:type="locator" />
    <link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:to="lab_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:type="arc" />
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>12
<FILENAME>mac-20160331_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!--XBRL Document Created with Wdesk from Workiva-->
<!-- -->
<linkbase xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <roleRef roleURI="http://www.macerich.com/role/Acquisitions" xlink:href="mac-20160331.xsd#Acquisitions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:href="mac-20160331.xsd#AcquisitionsAllocationOfFairValueDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:href="mac-20160331.xsd#AcquisitionsNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:href="mac-20160331.xsd#AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:href="mac-20160331.xsd#AcquisitionsRemeasurementGainDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/AcquisitionsTables" xlink:href="mac-20160331.xsd#AcquisitionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:href="mac-20160331.xsd#BankAndOtherNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangement" xlink:href="mac-20160331.xsd#CoVentureArrangement" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:href="mac-20160331.xsd#CoVentureArrangementDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:href="mac-20160331.xsd#CommitmentsAndContingencies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:href="mac-20160331.xsd#CommitmentsAndContingenciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheets" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedBalanceSheetsParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:href="mac-20160331.xsd#ConsolidatedStatementOfEquityParenthetical" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfCashFlows" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:href="mac-20160331.xsd#ConsolidatedStatementsOfOperations" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:href="mac-20160331.xsd#DeferredChargesAndOtherAssetsNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Dispositions" xlink:href="mac-20160331.xsd#Dispositions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DispositionsDetails" xlink:href="mac-20160331.xsd#DispositionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:href="mac-20160331.xsd#DocumentAndEntityInformation" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEps" xlink:href="mac-20160331.xsd#EarningsPerShareEps" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:href="mac-20160331.xsd#EarningsPerShareEpsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:href="mac-20160331.xsd#EarningsPerShareEpsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxes" xlink:href="mac-20160331.xsd#IncomeTaxes" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesDetails" xlink:href="mac-20160331.xsd#IncomeTaxesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/IncomeTaxesTables" xlink:href="mac-20160331.xsd#IncomeTaxesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVentures" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:href="mac-20160331.xsd#InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayable" xlink:href="mac-20160331.xsd#MortgageNotesPayable" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableFootnotesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:href="mac-20160331.xsd#MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:href="mac-20160331.xsd#MortgageNotesPayableTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterests" xlink:href="mac-20160331.xsd#NoncontrollingInterests" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:href="mac-20160331.xsd#NoncontrollingInterestsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/Organization" xlink:href="mac-20160331.xsd#Organization" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/OrganizationDetails" xlink:href="mac-20160331.xsd#OrganizationDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNet" xlink:href="mac-20160331.xsd#PropertyNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetDetails" xlink:href="mac-20160331.xsd#PropertyNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:href="mac-20160331.xsd#PropertyNetNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/PropertyNetTables" xlink:href="mac-20160331.xsd#PropertyNetTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactions" xlink:href="mac-20160331.xsd#RelatedPartyTransactions" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:href="mac-20160331.xsd#RelatedPartyTransactionsTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlans" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNarrativeDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansSarsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:href="mac-20160331.xsd#ShareAndUnitBasedPlansTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquity" xlink:href="mac-20160331.xsd#StockholdersEquity" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/StockholdersEquityDetails" xlink:href="mac-20160331.xsd#StockholdersEquityDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEvents" xlink:href="mac-20160331.xsd#SubsequentEvents" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SubsequentEventsDetails" xlink:href="mac-20160331.xsd#SubsequentEventsDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:href="mac-20160331.xsd#SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNet" xlink:type="simple" />
  <roleRef roleURI="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:href="mac-20160331.xsd#TenantAndOtherReceivablesNetDetails" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" xlink:type="simple" />
  <roleRef roleURI="http://www.xbrl.org/2009/role/netLabel" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" xlink:type="simple" />
  <presentationLink xlink:role="http://www.macerich.com/role/Acquisitions" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_263B6A88C63451498588960FB5C34AB6" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_263B6A88C63451498588960FB5C34AB6" xlink:to="loc_us-gaap_BusinessCombinationDisclosureTextBlock_3447EC8696EB5B0190C8B97CC9E00232" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_F581065778AB289AEBB9641DCDFF544C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_F581065778AB289AEBB9641DCDFF544C" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_FDD529727BA6CF7FA220641DCE00C709" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_096E7A192DD31CF9F5CA641DCE00BB2F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_BD442F5B3F6354D7C1DA641DCE005158" xlink:to="loc_mac_InlandCenterMember_096E7A192DD31CF9F5CA641DCE00BB2F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_52F3889C1166F5FDB81F641DCDFFA48C" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty_EC82959C5AFF1F19750A641DCE005F72" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges_A2D0D4C3715259CAABCF641DCE00419E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets_A7AF318F1086C993EE7C641DCE005BDD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_43EB108D81BDEB62796B641DCE00AAF6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable" xlink:label="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable_0D6C1EE2ADFFA720D8B8641DCE00E9BD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_A178C77E5A13DD0AA64F641DCE004B4C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_81D736C9E6C609D7A172641DCE007546" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_D18ADFB96376F23F355E641DCE001B3F" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_0450C2AB60D1F16108AF641DCE00CC3B" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/AcquisitionsNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_CECEFA6BC3FBE7E04B24641DCE0531CA" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_4D6100CBD427AA9303E8641DCE050B12" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_95102943598B4768D44B641DCE056E82" xlink:to="loc_mac_InlandCenterMember_4DD6837899FBE82BFDE1641DCE053FB2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_1C01E54426CBAC7B380D641DCE0569D0" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMember" xlink:label="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_7EF606CE5E9BCE707CC8641DCE056270" xlink:to="loc_mac_FashionOutletsOfChicagoMember_A0295049CDFEC4981C60641DCE06C126" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_E7E98D05448293F08AD6641DCE061275" xlink:to="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_C89E5169D04308A54A90641DCE06D8CF" xlink:to="loc_us-gaap_AffiliatedEntityMember_30987A10F4AD64A04696641DCE06D0B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_5D91100A8376B07005D8641DCE0592D5" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_7900F91CC2C0F97A92AE641DCE06C6A7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesGross_29AA84302E1BB22EC966641DCE06085E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_DAA206DB4CFB0C2E6B9F641DCE06DD25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_101FD4A0E1F25AEA75E5641DCE060090" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcquisitionNoncontrollingInterestAdjustment" xlink:label="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_mac_AcquisitionNoncontrollingInterestAdjustment_DD203EE4A9FDC34B435F641DCE063895" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" xlink:label="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_9C12C614A5A10C7B8169641DCE0684AB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_FD005E1F4D0B83DAD139641DCE068936" xlink:to="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_B44E4F9D53DA374DB3BF641DCE06D32B" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_78F239C54060F7E5660E7889AE1F89A6" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_78F239C54060F7E5660E7889AE1F89A6" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_05C6581EE5F6082B0C667889AE1F5D2E" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_D2C87019E63AA8007DE47889AE1FC0FE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_24F2548EEB12DC9B6AF47889AE1F3F7B" xlink:to="loc_mac_InlandCenterMember_D2C87019E63AA8007DE47889AE1FC0FE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_CBA2DEA5F056484574E37889AE1F3C8D" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F2EE136B82F59559ACD47889AE1F0A89" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_F2EE136B82F59559ACD47889AE1F0A89" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_A1CCAB548698FB1A30097889AE1F36BD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_EquityMethodInvestments_92A7578D6D39A22AAF0C7889AE20BE74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_AB34C41C1CAADB4DA24D7889AE207CC1" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_AB34C41C1CAADB4DA24D7889AE207CC1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet" xlink:label="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_1C375EF8B75DDA1CA6AE7889AE203B85" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired" xlink:label="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_03E322CA4395B498CADE7889AE20C70A" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_389A36BD0ED9E03A00527889AE1FAA20" xlink:to="loc_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired_03E322CA4395B498CADE7889AE20C70A" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_D038D2FE8B048F32FC807889AE26FBB7" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_D038D2FE8B048F32FC807889AE26FBB7" xlink:to="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_5A23C2FBE055765142387889AE265495" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_F236F3D5622452F9B1177889AE26B6EA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_09D3E2E6BB762FCB4D967889AE265101" xlink:to="loc_mac_InlandCenterMember_F236F3D5622452F9B1177889AE26B6EA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_6E832EF126745318F0F47889AE266EC7" xlink:to="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1_C28085C949852D80F8CF7889AE26F0F7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_EquityMethodInvestments_A2E4995A596D4C56F4E87889AE261F22" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_BEC0CC37AD49D700A9757889AE26BE10" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_7DE42D24C562460D241A7889AE260EC6" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage_DC5C6E061B719797AE767889AE26EAC5" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/AcquisitionsTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationsAbstract" xlink:label="loc_us-gaap_BusinessCombinationsAbstract_E02F824D581CB91408E95FB944FCB325" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_E02F824D581CB91408E95FB944FCB325" xlink:to="loc_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_E46184738387C8F1375B5FB944FD921E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock" xlink:label="loc_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_E02F824D581CB91408E95FB944FCB325" xlink:to="loc_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock_68568C92C1D5689B446C5FB944FDB0AA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock" xlink:label="loc_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessCombinationsAbstract_E02F824D581CB91408E95FB944FCB325" xlink:to="loc_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock_5AF3011CE2B9C632861F5FB944FD5F4D" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayable" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_BD5F29F894285A8C9F4C7CD3FCC79EB8" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock" xlink:label="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_BD5F29F894285A8C9F4C7CD3FCC79EB8" xlink:to="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock_E6FE87120F0754B78478F5B34E45545D" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/BankAndOtherNotesPayableDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_894EB159966E52F290C15F310F60FDA0" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_894EB159966E52F290C15F310F60FDA0" xlink:to="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateAxis_DC10D12D7621F0D1708A5F310F603411" xlink:to="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateDomain_F8BE53996F6D67227FD95F310F603FB0" xlink:to="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_609B3913FF2B6B787BFF5F310F60A53E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_E99541A283B84677D0885F310F604422" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditMember" xlink:label="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:to="loc_us-gaap_LineOfCreditMember_20401B18A00844F1390D5F310F618075" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PrasadaNoteMember" xlink:label="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_6A4ECA43CA6831C52F4B5F310F616860" xlink:to="loc_mac_PrasadaNoteMember_1AC15808BE400D3CAB7D5F310F61F481" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RangeAxis_04A9B4BFAE39AD9429E45F310F610ACA" xlink:to="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:to="loc_us-gaap_MinimumMember_60C1D142199CDC8DFB165F310F61F193" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RangeMember_2667D4CAE877818CE3CB5F310F61DF64" xlink:to="loc_us-gaap_MaximumMember_0DE9028693263A03A0085F310F61FCAF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_89F4EBC13B4291A92A355F310F60E873" xlink:to="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_92A526E63EB1CB0800795F310F61AC5B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentDescriptionOfVariableRateBasis" xlink:label="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis_B1DACE3816C806C2716F5F310F617CD5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A59B8BE628834488BC335F310F61F3E9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCredit" xlink:label="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCredit_739F5AD817A11BA51E8B5F310F628DE3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DeferredFinanceCostsNet_77D0D2FCA456134825355FA9982FDE62" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityInterestRateDuringPeriod" xlink:label="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod_704157827E1ABE17E2595F310F62A12C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding" xlink:label="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding_441F964C8427C01897CA5F310F629D88" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfDebt_755C475084FEBB8F471E5F310F61120B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_FA9D33D3CCB921278D655F310F62688A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentCarryingAmount_0509493056DD8418D9505F310F62810B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFairValue" xlink:label="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9EE4D32A4E1C93245CB35F310F61D255" xlink:to="loc_us-gaap_DebtInstrumentFairValue_CFFA6F08FC649EBB97335F310F627286" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/CoVentureArrangement" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_CoVentureArrangementDisclosureAbstract" xlink:label="loc_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_CoVentureArrangementDisclosureTextBlock" xlink:label="loc_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_CoVentureArrangementDisclosureAbstract_0B8A4B325C2557089FD70DB6C2252025" xlink:to="loc_mac_CoVentureArrangementDisclosureTextBlock_0E15A12644F655C0BAE550738CF40ABC" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/CoVentureArrangementDetails" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_CoVentureArrangementDisclosureAbstract" xlink:label="loc_mac_CoVentureArrangementDisclosureAbstract_B415290616705C6140685EEB6EAD736A" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesTable" xlink:label="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_CoVentureArrangementDisclosureAbstract_B415290616705C6140685EEB6EAD736A" xlink:to="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_352B96EDC606C402A0405EEB6EAD2825" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallAndChandlerFashionCenterMember" xlink:label="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_FreeholdRacewayMallAndChandlerFashionCenterMember_2322FA7EC3C4444F44985EEB6EAE4C63" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMember" xlink:label="loc_mac_FreeholdRacewayMallMember_931B81B3DFF4C8D14B9B5EEB6EAE418D" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_FreeholdRacewayMallMember_931B81B3DFF4C8D14B9B5EEB6EAE418D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMember" xlink:label="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_6B90E8377145179BD6225EEB6EAD997E" xlink:to="loc_mac_ChandlerFashionCenterMember_FDC81326D4AB03DB160E5EEB6EAE01DD" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfJointVenturesLineItems" xlink:label="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ScheduleOfJointVenturesTable_667D7C36BA95C5F95AB35EEB6EADE3E5" xlink:to="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentageSold" xlink:label="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_mac_JointVentureOwnershipPercentageSold_48117E111D39038B5F045EEB6EAE3042" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_DD58E3A282F406D83AD25EEB6EAE9FD6" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_DD58E3A282F406D83AD25EEB6EAE9FD6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_us-gaap_DeferredGainOnSaleOfProperty_7BA94932012C4A96DBB75EEB6EAEFB3D" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ScheduleOfJointVenturesLineItems_7EEDF287B1B73EB2FFED5EEB6EAE9FBE" xlink:to="loc_us-gaap_DeferredGainOnSaleOfProperty_7BA94932012C4A96DBB75EEB6EAEFB3D" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingencies" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F997EB06365A53BCB4EA13EC68852941" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F997EB06365A53BCB4EA13EC68852941" xlink:to="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_7A53151DB285530183C84A94D61FA362" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/CommitmentsAndContingenciesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ContingentLiabilitiesAbstract" xlink:label="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_F4B5E7CF06B205E14E5C7E28B83723C3" xlink:to="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseNet" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:to="loc_us-gaap_OperatingLeasesRentExpenseNet_DAF928293B0D919217B57E28B8370129" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesRentExpenseContingentRentals" xlink:label="loc_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:to="loc_us-gaap_OperatingLeasesRentExpenseContingentRentals_C51C5CE9FC0A0357ACE67E2C3C814F91" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LettersOfCreditOutstandingAmount" xlink:label="loc_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:to="loc_us-gaap_LettersOfCreditOutstandingAmount_E251AA705331E0A4545F7E28B837A011" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionPayableCurrent" xlink:label="loc_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ContingentLiabilitiesAbstract_2DE89908C566C66149137E28B83778AA" xlink:to="loc_us-gaap_ConstructionPayableCurrent_2903629C4ECE56C696D37E28B8372D37" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheets" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:to="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyNet_FE70FC8BCF44612664FE5DCE514E8A03" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_105074B9B79580671C445DCE514E8AFA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue_47DA87E5E805E51C5BF45DCE514F42F2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsAndNotesReceivableNet" xlink:label="loc_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_AccountsAndNotesReceivableNet_1DC08C74AA350A06BAD45DCE514F6AC0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsAndOtherAssets" xlink:label="loc_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_DeferredCostsAndOtherAssets_0A7FBC25E42B7DA55AA95DCE514FA9F2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="loc_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_DueFromAffiliates_30CBDBD3F622CA9439445DCE514FA3BF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_EquityMethodInvestments_1A88DFD1AF4B9114CA1C5DCE514F9F44" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_79BAE0048FDC5D3AD53B5DCE5149977A" xlink:to="loc_us-gaap_Assets_4D2558F5892D793169625DCE514F1226" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_77725CDE4DC1B3E0CC995DCE51493D69" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MortgageNotesPayableAbstract" xlink:label="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:to="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_79A0495CE06CF1315C565DCE514F1E5F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:to="loc_mac_SecuredDebtNonrelatedParty_6203E47B771A5C4AA30C5DCE514FE107" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_MortgageNotesPayableAbstract_945B16A00A011A3865E55DCE514F2E5E" xlink:to="loc_us-gaap_SecuredDebt_D3ED1B344F9B83D011595DCE514FD7BA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable" xlink:label="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable_C5DC4ABB0A0D3B79069C5DCE5150814A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent_4F7BEB47203E6B802E515DCE5150B10C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsPayableCurrentAndNoncurrent" xlink:label="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_DividendsPayableCurrentAndNoncurrent_30BD06F9C05FC811049D5DCE5328D603" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent_703EB7CDAB84303F1FC05DCE51503224" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_mac_InvestmentsInUnconsolidatedJointVentures_362B31A234E70C1F0FEF5DCE51503F69" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredGainOnSaleOfProperty" xlink:label="loc_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_DeferredGainOnSaleOfProperty_85F896AF1829901F708E5DCE51509D40" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Liabilities" xlink:label="loc_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_Liabilities_D2182A257030FF31FADA5DCE51500ACB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:label="loc_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_CommitmentsAndContingencies_31A3E1F3D29406C587015DCE5150B3B2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:to="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue" xlink:label="loc_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:to="loc_us-gaap_CommonStockValue_6FC1AF9C07375EF6C8325DCE5150C354" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock" xlink:label="loc_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:to="loc_us-gaap_AdditionalPaidInCapitalCommonStock_290383A161583B27F4735DCE51514ACF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_4E1DFFDD44C85256F70A5DCE51566CB1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="loc_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityAbstract_3BB1C686C34BC7B128725DCE51504B96" xlink:to="loc_us-gaap_StockholdersEquity_A3DE739A1AF00F231C235DCE51563342" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:to="loc_us-gaap_MinorityInterest_D01D527BDB3EC0EFFAE85DCE51560A3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_95B388778BD0CC5FCC4A5DCE515085AF" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_05B326432B4ADBF3E0C85DCE5156AEE5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_E0199BF14D7A4587AF0B5DCE514FE5CA" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquity_13BE018F319C08146C045DCE5156D432" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_BC439F4E0F415C909C0C853E153CC56C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_73E3C2A3925B523E9FD48ABC6AC1BE9A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_BC439F4E0F415C909C0C853E153CC56C" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_73E3C2A3925B523E9FD48ABC6AC1BE9A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_BC439F4E0F415C909C0C853E153CC56C" xlink:to="loc_us-gaap_CommonStockSharesAuthorized_2A6E2D27C23C599A8D56665084CA84DB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_BC439F4E0F415C909C0C853E153CC56C" xlink:to="loc_us-gaap_CommonStockSharesIssued_52A95E6E8AD550549D3591F836A9E4D4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_BC439F4E0F415C909C0C853E153CC56C" xlink:to="loc_us-gaap_CommonStockSharesOutstanding_B47E3014285554ECB0C9845555806DA0" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquity" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_033357E2E628DC42AED47889B0F0806C" xlink:to="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:to="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementEquityComponentsAxis_1EAD90888A07AE1CC9FC7889B0F09957" xlink:to="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ParentMember" xlink:label="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:to="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockMember" xlink:label="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_CommonStockMember_D1CD94225EB92F1E13BB7889B0F0C356" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalMember" xlink:label="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_AdditionalPaidInCapitalMember_6A26F88B4903AF4F02147889B0F61747" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ParentMember_EEF1156ED3ACC23DA5157889B0F0C416" xlink:to="loc_us-gaap_RetainedEarningsMember_2BECF7B3D64A77C78D517889B0F608C4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestMember" xlink:label="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityComponentDomain_7D0AA0C71D4853625BBB7889B0F0B0D5" xlink:to="loc_us-gaap_NoncontrollingInterestMember_2D16296193A2879851C67889B0F62AF2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementTable_2706532912E95645DB2F7889B0F074B9" xlink:to="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementLineItems_17AE9D00E1801CB2960D7889B0F610CB" xlink:to="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_CommonStockSharesIssued_8969E9D553B4B1DDFAEF7889B0F68583" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_807E8E041AF99D3C5FDE7889B0F61FF6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_ProfitLoss_AC75EC875B177B0597887889B0F6F117" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation_2FE79C28CCC83057AAC87889B0F65583" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation_7712DDEAD8CFF093CBA67889B0F62A74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodShares" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodShares_AF85D9C7B03ADBC6EE5F7889B0F62C94" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchasedDuringPeriodValue" xlink:label="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockRepurchasedDuringPeriodValue_732D37FDD43BBC3A90EC7889B0F61807" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DividendsCommonStockCash" xlink:label="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_DividendsCommonStockCash_B1B2F8E058BE8FE19E137889B0F61A3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_21C73C2CE73F775A286E7889B0F6FDE9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_C44E4A59DF5B068050A27889B0F6F065" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_68C24D6DBFAA952BBA997889B0F775DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDecreaseFromRedemptions" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="locator" />
    <presentationArc order="12" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_MinorityInterestDecreaseFromRedemptions_EC078809379DAB833B937889B0F7F1D7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance" xlink:label="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="locator" />
    <presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance_5220C8A4A83479685C7A7889B0F7439B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:type="locator" />
    <presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_CommonStockSharesIssued_6C62B559D8F6A25DA89F7889B0F7C531" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:type="locator" />
    <presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A93F66D006B67D6AB08D7889B0F6D66A" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_B4326B5D9970D5D029397889B0F7CAEC" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_AB722877F5885FD692BCCF0D6C541114" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareCashPaid" xlink:label="loc_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_AB722877F5885FD692BCCF0D6C541114" xlink:to="loc_us-gaap_CommonStockDividendsPerShareCashPaid_F7BE84C8290C502F8EDFFFF572E0638D" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_D350248F7F0E4C7074907ED2BE0AD1CC" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:to="loc_us-gaap_ProfitLoss_D350248F7F0E4C7074907ED2BE0AD1CC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:to="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_BECD04E99E51CC5D80BA7ED2BE0AE748" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_E9DC5462707E2580C3F47ED2BE0A10B8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset" xlink:label="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset_F011739BEB6DB8B7EF0D7ED2BE0B56D4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_4C2EA4B33DF373713F987ED2BE0B90DB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="loc_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_AmortizationOfDebtDiscountPremium_B9FB8410948AB5D492587ED2BE0B8378" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_ShareBasedCompensation_759D2AF2B9A4C1BCBA007ED2BE0B9103" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StraightLineRentAdjustments" xlink:label="loc_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_StraightLineRentAdjustments_5418C534716F08963E657ED2BE0BE41B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfAboveAndBelowMarketLeases" xlink:label="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_AmortizationOfAboveAndBelowMarketLeases_3EDFC5A62A300B31D9BF7ED2BE0BD626" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="loc_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_ProvisionForDoubtfulAccounts_872563DD815D001C970E7ED2BE0B2DBF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_27173916F3C4E48E54AD7ED2BE0B1932" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_0332469029008C6DF0747ED2BE0B5DB8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:type="locator" />
    <presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_EquityMethodInvestmentDividendsOrDistributions_4A2A03449445D6B777477ED2BE0BA9AA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:type="locator" />
    <presentationArc order="13" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_mac_IncomeLossFromCoventureOperations_8A5F9B5B74B6C9F686417ED2BE0B57CA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:type="locator" />
    <presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_BA58EDE60B17C1D1767F7ED2BE0A810B" xlink:to="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_F8D83A12DF15846199547ED2BE0B7ADE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_CE7188CC2814783B0FC67ED2BE0B9E21" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseDueFromAffiliates" xlink:label="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="loc_us-gaap_IncreaseDecreaseDueFromAffiliates_76699337999A74C442247ED2BE0B17CF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_164B287A0029E07370317ED2BE0B1615" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_80D4B3EEF4E3CFD0F5A27ED2BE0BAE15" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities_5B213F915A83B5C145887ED2BE0B3420" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_C0F2EFCED6D8083555097ED2BE0A4015" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_EB12E745AD1A173BCE9B7ED2BE0C3171" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_PaymentsToAcquireRealEstate_5AAD9AF4682153AD24607ED2BE0CDC40" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireAndDevelopRealEstate" xlink:label="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_PaymentsToAcquireAndDevelopRealEstate_3BD12A0B2205D44E9F597ED2BE0C429E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToDevelopRealEstateAssets" xlink:label="loc_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_PaymentsToDevelopRealEstateAssets_972705B9D935FA99965F7ED2BE0C5FA4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromCollectionOfNotesReceivable" xlink:label="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_ProceedsFromCollectionOfNotesReceivable_2083288684648C6968787ED2BE0C508F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredLeasingFees" xlink:label="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_IncreaseDecreaseInDeferredLeasingFees_6F7C59F3B6EF3B3F27C17ED2BE0C450C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther" xlink:label="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther_1EC44EB54F1AC95F4B507ED2BE0C511E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireInterestInJointVenture" xlink:label="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_PaymentsToAcquireInterestInJointVenture_705652400116B98B39EF7ED2BE0CAF4F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet" xlink:label="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet_DD503E8C962C6B63E7017ED2BE0C5254" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_IncreaseDecreaseInRestrictedCash_E1BCE0DDAB16BCED95A47ED2BE0CC5BF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_E9BD3DAFCEB4611756807ED2BE0C2358" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_A257D0EA541E12346FF77ED2BE0C3FF4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet_A3C7341301A2F410314D7ED2BE0C31DF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities_A046A62694C2675AB0427ED2BE0C7AB4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="loc_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_PaymentsOfFinancingCosts_0CC34A91432EEE55F8617ED2BE0C30D6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_PaymentsOfStockIssuanceCosts_55C6867BA3090C6FFC8A7ED2BE0C12DB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:label="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_PaymentsForRepurchaseOfCommonStock_7E0E6B7ACCFF4A84386A7ED2BE0D994E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToMinorityShareholders" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_PaymentsToMinorityShareholders_33E45BB619AE053D9E157ED2BE0DB6CE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="loc_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_PaymentsOfDividendsCommonStock_EF6731BCDE7C9FDAC73A7ED2BE0D40C0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DistributionsToCoVenturePartner" xlink:label="loc_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_mac_DistributionsToCoVenturePartner_2BDEC452A570D679A0DB7ED2BE0D524F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_8170771D88FB33D6DF007ED2BE0C002C" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_A47845F695C9E9316B9C7ED2BE0D99DB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_2E7E72D97B8BD8420E1A7ED2BE0D9A8A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_85A125B1A89A461C37F37ED2BE0D37E1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_4F0F01675C459915898C7ED2BE0D9C6C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SupplementalCashFlowInformationAbstract_EDCC341816C2BFEFF7617ED2BE0DB453" xlink:to="loc_us-gaap_InterestPaidNet_793C63417230438914267ED2BE0D23FD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_941C89ED27750A4419C47ED2BE0A6CC0" xlink:to="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_55F586DB7277E3E714797ED2BE0D5710" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesAssumed1" xlink:label="loc_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="loc_us-gaap_NotesAssumed1_D7FEF085E8BDA3B9D7257ED2BE0D34B4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAssumed1" xlink:label="loc_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="loc_us-gaap_LiabilitiesAssumed1_1EC2C109B2C5A80F49E97ED2BE0D7F09" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture" xlink:label="loc_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="loc_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture_BC6FAF7C694445AEE4187ED2BE0D7BC5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ConversionOfStockAmountConverted1" xlink:label="loc_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_D9A06BB0CC43EF0F3EB67ED2BE0DF335" xlink:to="loc_us-gaap_ConversionOfStockAmountConverted1_CD243E84922DE79B90187ED2BE0D9558" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ConsolidatedStatementsOfOperations" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue_EF97A33DBB6B35206B587769E65C7E42" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PercentageRent" xlink:label="loc_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_us-gaap_PercentageRent_EFAC933DA623E6FCAD327769E65C6E7F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantReimbursements" xlink:label="loc_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_us-gaap_TenantReimbursements_DDBA582682D8A30661C07769E65C772C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherIncome" xlink:label="loc_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_us-gaap_OtherIncome_89540242FB880BAE67057769E65C9F1B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ManagementFeesAndOtherRevenues" xlink:label="loc_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_mac_ManagementFeesAndOtherRevenues_55F9C18277043E57197B7769E65CFB8E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_ABA36918131CEC89A8D87769E65CCD42" xlink:to="loc_us-gaap_Revenues_60FDA19B15B0D864BEE77769E65CCABF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostOfRealEstateRevenue" xlink:label="loc_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_CostOfRealEstateRevenue_C4D137B7D820B2E6E4CA7769E65C2577" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OwnedPropertyManagementCosts" xlink:label="loc_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_OwnedPropertyManagementCosts_3368639393E522871A997769E65CA044" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_E73505EBD4E0AE67BF907769E65C6B39" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_UnsolicitedTenderOfferCosts" xlink:label="loc_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_UnsolicitedTenderOfferCosts_48B8BA7CB6A8DDF770977769E65CDFC3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_DepreciationAndAmortization_A624A703CE8AFE17F9617769E65CC370" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CostsAndExpensesBeforeInterestTotal" xlink:label="loc_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_mac_CostsAndExpensesBeforeInterestTotal_BD16000F6F0F6081AE8A7769E65D291F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseAbstract" xlink:label="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:to="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_E1FB8149EF52E411B2647769E65D3CDF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpenseOther" xlink:label="loc_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:to="loc_us-gaap_InterestExpenseOther_4818A4D21186350548FA7769E65DB592" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InterestExpenseAbstract_425CCB19397B7746C9B17769E65D4811" xlink:to="loc_us-gaap_InterestExpense_7A11C68886F5A8ADD0E87769E65D12EB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainsLossesonExtinguishmentofDebtIncludingPenalties" xlink:label="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties_8F62C74028D322E6977F7769E65D2BAF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="loc_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_CostsAndExpensesAbstract_B464B17D934E77167FDB7769E65C25A3" xlink:to="loc_us-gaap_CostsAndExpenses_979370113C1E0409BA8B7769E65D09A8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_B12DAD2BA8C60B6FDD237769E65D5A80" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_IncomeLossFromCoventureOperations" xlink:label="loc_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_mac_IncomeLossFromCoventureOperations_0AFC56E78AE7C2F581187769E65D7B20" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_94950E21D99A021033607769E65DCC85" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_6292B395702BB020AFBE7769E65DE937" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss" xlink:label="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss_C29124036A650A80C1EA7769E65DBDF1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_ProfitLoss_8FA205CD0BE8EEE246927769E65D982E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_66E02B8CD35BC49622A07769E65DB872" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_84B752983EDCE38E09F97769E65D7EBE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:to="loc_us-gaap_EarningsPerShareBasic_B2B2263DBBB205DBA6FF7769E65DFE04" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_42CB32D176C6079CB79A7769E65DB811" xlink:to="loc_us-gaap_EarningsPerShareDiluted_881A89BCACC93E1565437769E65D4C42" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:type="locator" />
    <presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementAbstract_29C7FEA970C5D092DB027769E65C38CA" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_4266F1E0B9E1991579FE7769E65E3001" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_2DAB9579042A27AA3A857769E65EADCF" xlink:to="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_52B7DE427DE1E4BC9F3B7769E65E1768" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsDisclosureTextBlock" xlink:label="loc_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_15249AE0CD8D520E90D5B8A5957DD00A" xlink:to="loc_us-gaap_OtherAssetsDisclosureTextBlock_842086433088595998329CE30103B6D8" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_D454C51F1D55F1B480EA7769E5BD5329" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable" xlink:label="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_D454C51F1D55F1B480EA7769E5BD5329" xlink:to="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis_2720CB156146265632C87769E5BE462E" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AboveMarketLeasesMember" xlink:label="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:to="loc_us-gaap_AboveMarketLeasesMember_286E0C70EC001F4F20207769E5BE25CB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BelowMarketLeaseMember" xlink:label="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain_36171510C0683B3CECBA7769E5BEA5B7" xlink:to="loc_mac_BelowMarketLeaseMember_28921E5A27E9FFC9F8637769E5BE6D1C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems" xlink:label="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetByMajorClassTable_AF70FED535847889F62B7769E5BD2ED2" xlink:to="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_B2885876A1D9DA1ECAFA7769E5BEC997" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_6D4FA4401143C9C1B5267769E5BE8195" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsNet_1C42B03C9799EFF5E36C7769E5BE28A0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseGross" xlink:label="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseGross_C2ADA321CA0C81EAF4197769E5BE1E13" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseAccumulatedAmortization" xlink:label="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseAccumulatedAmortization_70471781939A5C85EFBA7769E5BE2618" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BelowMarketLeaseNet" xlink:label="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems_F833CBDF1F57648D88457769E5BE78E7" xlink:to="loc_us-gaap_BelowMarketLeaseNet_766A958DA5C12C4EB58377FB0391D772" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsLeasingGross" xlink:label="loc_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_DeferredCostsLeasingGross_E7D1B9A91F5D6FB4E0975F31112504B7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGrossAbstract" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases_1F2AF8FE9D75A2C170CF5F3111259922" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts" xlink:label="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:to="loc_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts_11DDC7A17A1047F9467D5F311125617E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FiniteLivedIntangibleAssetAboveMarketLeases" xlink:label="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract_B1332C31EECC812920895F3111259F5A" xlink:to="loc_mac_FiniteLivedIntangibleAssetAboveMarketLeases_4133EAAE0A020D56FD715F3111251839" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_CF65BAB2D84E2352A56D5F3111256ADA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCompensationPlanAssets" xlink:label="loc_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_DeferredCompensationPlanAssets_2A27B8920D861681AB045F311126880C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMiscellaneous" xlink:label="loc_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_OtherAssetsMiscellaneous_F02BAFAC16F5D396B3E45F311126442F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsGross" xlink:label="loc_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_mac_DeferredCostsAndOtherAssetsGross_28D34A8BE2D7869526AB5F3111261205" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets" xlink:label="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets_94E62432A4AE521B29DC5F311126EB69" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeferredCostsAndOtherAssetsNet" xlink:label="loc_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_mac_DeferredCostsAndOtherAssetsNet_DF6459035752D32FC57D5F311126520D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_E02F1144C3E062374A7B5F31112688F7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AmortizationOfIntangibleAssets" xlink:label="loc_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_25C2F84C106089DE97115F311125751A" xlink:to="loc_us-gaap_AmortizationOfIntangibleAssets_4BB8D907A23DCD13A6305F311126AF88" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract" xlink:label="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_7C3A435645FF563EBD3D98668DCFAA7B" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfOtherAssetsTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_7C3A435645FF563EBD3D98668DCFAA7B" xlink:to="loc_us-gaap_ScheduleOfOtherAssetsTableTextBlock_E23DB7C30BDF59148A8F088838BE869A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock" xlink:label="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract_7C3A435645FF563EBD3D98668DCFAA7B" xlink:to="loc_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock_D4B89DE786A25CDD892131A852B982DC" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/Dispositions" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_3DE080BB39D65FA08D88295F8D9B9EE2" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_2645BA1C2D96536196349C4E5D761507" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DispositionsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_8ABD002A36407B260B097769E4CFE614" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_8ABD002A36407B260B097769E4CFE614" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_06A993B13656B5E2E2D97769E4CFFE29" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMember" xlink:label="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:to="loc_mac_GreatNorthernMallMember_7ABE055929AC9C6203DC7769E4CF559C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PanoramaMallMember" xlink:label="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_49A1F31A868D53AE33267769E4CF20EB" xlink:to="loc_mac_PanoramaMallMember_50C7AAA431FEAB4E1EB57780FB9436B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_32D739D97516184428B87769E4CF6847" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreatNorthernMallMortgageMember" xlink:label="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DB49526A0CEBE27062C7769E4CF4F08" xlink:to="loc_mac_GreatNorthernMallMortgageMember_937CDE36AB4CBB94A73A7769E4D48DA0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_38742B0115AE2FAD6B087769E4CF1CFA" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_527CECDAA92A917E39EF7769E4D5BF3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_0103E67A74D7E9B462C97769E4D5057F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_0103E67A74D7E9B462C97769E4D5057F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_4C8CF52B929D82E348267769E4D52B17" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal" xlink:label="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_B3024C90F20BAABA67A27769E4D5EBB8" xlink:to="loc_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal_A5EC98259999A1710D227769E4D5160A" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/DocumentAndEntityInformation" xlink:type="extended">
    <loc xlink:href="mac-20160331.xsd#mac_DocumentAndEntityInformationAbstract" xlink:label="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:type="locator" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="loc_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_EntityRegistrantName_2CCAC19F3FFD5BB99211D24B50F5BDB3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="loc_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_EntityCentralIndexKey_F980BAEFCEF65D59BC80677DEE559425" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="loc_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_DocumentType_B463176C9FB756A8891D8AF07292636B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_DocumentPeriodEndDate_595F4447703B511B9DBB512922DFF02F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="loc_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_AmendmentFlag_EC8628AE40755EE0AB565EFDA7D1BF4F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_CurrentFiscalYearEndDate_A712EB36C71C5E458CF8D7FACF2CFE7D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_EntityCurrentReportingStatus_5B815F936EF1503ABA4D2A36A651A877" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="loc_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_EntityFilerCategory_45B3516024F55D569379A8DFE5CE9D98" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_EntityCommonStockSharesOutstanding_A1D95CCDA86957C8AB6CDB06001E6FAD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_DocumentFiscalYearFocus_6DF0AAAC7B2552B4B1774C72A02C6CA6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_DocumentAndEntityInformationAbstract_FAF90850E13A5D7EB0CEDFEAFD4E9B60" xlink:to="loc_dei_DocumentFiscalPeriodFocus_6C81DF2C905D56C6A0CF0612425E3038" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEps" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="loc_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_A88C7D5F3CF557849DE2EF4FB3A1EF6E" xlink:to="loc_us-gaap_EarningsPerShareTextBlock_806552AA15E258D6827545103F27503C" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_C472F98CB9F3750123DE7869A054336E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_C472F98CB9F3750123DE7869A054336E" xlink:to="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_E895E55D508B72C5E3FC7869A055BA25" xlink:to="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PreferredNonparticipatingConvertibleUnitsMember" xlink:label="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:to="loc_mac_PreferredNonparticipatingConvertibleUnitsMember_734A15EE67B50FF3B1AF7869A0556D1E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PartnershipUnitsMember" xlink:label="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AntidilutiveSecuritiesNameDomain_C8B1ABDB316FF3125DBF7869A0552C8A" xlink:to="loc_mac_PartnershipUnitsMember_A3754E176EB191A7D3F37869A055E0B2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_0A7D37ED41C5C6F488B07869A05563DA" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_EF180701B88E24AF69D07869A055C2AF" xlink:to="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_A38DAEB65B8115A3D3B47869A055C088" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_C472F98CB9F3750123DE7869A054336E" xlink:to="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProfitLoss" xlink:label="loc_us-gaap_ProfitLoss_F1A7DF31AF4EF70BEBCE7889204E650C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="loc_us-gaap_ProfitLoss_F1A7DF31AF4EF70BEBCE7889204E650C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_A5CC8964A510B1124E907869A0566C5E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_7E67D4871088CEB911B47869A056BE8A" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_7E67D4871088CEB911B47869A056BE8A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="loc_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_F2817043519B4C86C1377869A0569770" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract_D66781F58F7E1B054A5A7869A0553762" xlink:to="loc_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted_8F149C99F65E30EF67307869A057BAA8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_C472F98CB9F3750123DE7869A054336E" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:to="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_BEDABA7137E7B64260727869A0570D74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract" xlink:label="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:to="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract_1AD318AB704FFBDB35247869A0579467" xlink:to="loc_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_9D6F16451E56B20399687869A0572B9C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_C0BFC76915C40C9040B57869A0575DBC" xlink:to="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_9CD0DF6C93203E641C627869A0570431" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasicAndDilutedAbstract" xlink:label="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_0DD30B60D373C07EA48A7869A05730F1" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_C472F98CB9F3750123DE7869A054336E" xlink:to="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_0DD30B60D373C07EA48A7869A05730F1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_AF5B8D5705EFC34CA2647869A057570A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_0DD30B60D373C07EA48A7869A05730F1" xlink:to="loc_us-gaap_EarningsPerShareBasic_AF5B8D5705EFC34CA2647869A057570A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="loc_us-gaap_EarningsPerShareDiluted_4C0AD659C258E9E1D2317869A0574514" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareBasicAndDilutedAbstract_0DD30B60D373C07EA48A7869A05730F1" xlink:to="loc_us-gaap_EarningsPerShareDiluted_4C0AD659C258E9E1D2317869A0574514" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/EarningsPerShareEpsTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_BF2EAC0AF7A95F9793299DCC7AE67721" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EarningsPerShareAbstract_BF2EAC0AF7A95F9793299DCC7AE67721" xlink:to="loc_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_1236B31A859F53B7BD21C69925CD56C3" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/IncomeTaxes" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock" xlink:label="loc_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_A62BF7E9893754D4A69837A00FBE45D3" xlink:to="loc_us-gaap_IncomeTaxDisclosureTextBlock_45BE0C0A4EE55CFF804E0AF9169EF23A" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/IncomeTaxesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_C3A1AB1AA15D6CDAFB06750166AA3AE3" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C3A1AB1AA15D6CDAFB06750166AA3AE3" xlink:to="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:to="loc_us-gaap_CurrentIncomeTaxExpenseBenefit_AF7A51FF7D96E585619A750166AAD8AF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:to="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_CAD7C05D9ADF28AE1D59750166AAE475" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_759F7D31E788D45FEB53750166AA47FF" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_3C06DAF3B6DF0D721C9F750166AAF1F8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsNetAbstract" xlink:label="loc_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_C3A1AB1AA15D6CDAFB06750166AA3AE3" xlink:to="loc_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredTaxAssetsLiabilitiesNet" xlink:label="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DeferredTaxAssetsNetAbstract_D6177DF0C08514D85B83750166AA9E73" xlink:to="loc_us-gaap_DeferredTaxAssetsLiabilitiesNet_2A2E681AD06B8F499719750166AAABC4" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/IncomeTaxesTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract" xlink:label="loc_us-gaap_IncomeTaxDisclosureAbstract_32C7B18E9DF150D6972A2953DA25F8B9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeTaxDisclosureAbstract_32C7B18E9DF150D6972A2953DA25F8B9" xlink:to="loc_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_4A57E1B569D35C14952A67BBD6B071AD" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_3B5997A1252C5A289176456BAA58F9EC" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsDisclosureTextBlock" xlink:label="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_3B5997A1252C5A289176456BAA58F9EC" xlink:to="loc_us-gaap_EquityMethodInvestmentsDisclosureTextBlock_547A6C8628D45DA4AE36CBAE00268B56" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_9077523A2D6904C4C6875F311145CF06" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_65A39EB8D06F6620014D5F3111459984" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLLCMember" xlink:label="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_D5A4A2C3D0167C3FD10C5F311145394B" xlink:to="loc_mac_PacificPremierRetailLLCMember_20267E15D4EF01C6B97C5F311145125A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_36E670D00E34EA105B415F311145085F" xlink:to="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NorthwesternMutualLifeMember" xlink:label="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_7B0C8006ECFEEE9F6BBA5F3111467D8F" xlink:to="loc_mac_NorthwesternMutualLifeMember_0CE36DB6887771D3697F5F311146212A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_5469620C6CE79CA99A0C5F3111454C96" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_9E42830AD427FF1E04AB5F311146E1D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities_0E6226C37016F33F34C25F31114645C3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GuaranteeObligationsMaximumExposure" xlink:label="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_us-gaap_GuaranteeObligationsMaximumExposure_4EAB7B7A655CC69679145F3111468906" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GuaranteeObligationsExposureIndemnifiedByThirdParty" xlink:label="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty_762B6E1EFF11EFB5AAED5F3111460102" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentNotesPayableRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentNotesPayableRelatedParty_E75CA867DA39999C10F65F311146F167" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty_BB1A2256F479C89610D15F3111464C11" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity" xlink:label="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_5BC58AED887D0F3DE6C35F3111465C78" xlink:to="loc_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity_950CFAD4226765D9F8A55F311146604F" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:to="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet_D8846DED920B5278965CFA855FAE8615" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets_B605156FA82C5C5EB93004A68DB45F24" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AssetsAbstract_4D77A9FE55A85A99B4A58560800E21C4" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets_05C17A7EF6245D02B3C5CE6D6D1631D6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:to="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt_B701CF55D8245701860AD123265E5E2A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities_91F867CD0E3B52A58AE3827760733BE2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_1DB3022248545A46870C8B08C935B221" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests_899F3E70402B550A8BB635DBCC6387FF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_C8F026831A1053DDBE764680A7DCD0BD" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity_D42B0FE2E80054969E6719CEEAFD2DB5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract" xlink:label="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:to="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets" xlink:label="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:to="loc_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets_754CCD2E4CA45942BB8A5D55EA22D856" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity" xlink:label="loc_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:to="loc_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity_E7DB0923FCC655D4896FAF96DD847954" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsNet" xlink:label="loc_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract_AB8410F74BE85B5C948AE30557C89FD7" xlink:to="loc_mac_EquityMethodInvestmentsNet_D8B0A3C882ED594F9DFE0F2FE54F8B7B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestments" xlink:label="loc_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/netLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:to="loc_us-gaap_EquityMethodInvestments_2774F95D943B5CEAA53B4C319F3D24BB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InvestmentsInUnconsolidatedJointVentures" xlink:label="loc_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_74AF85B1E6C7542F88D1C62936691F38" xlink:to="loc_mac_InvestmentsInUnconsolidatedJointVentures_AD2C112DADEE554D87AB65F01CCA3C43" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_1B5A8907B0C9EA2AA4D0750167D962B7" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_1B5A8907B0C9EA2AA4D0750167D962B7" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvesteeNameDomain" xlink:label="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis_E594DAC4297D81DDB5C3750167D9B361" xlink:to="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificPremierRetailLPMember" xlink:label="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:to="loc_mac_PacificPremierRetailLPMember_11F124DD510DD8B0C3A2750167D98144" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_OtherJointVenturesMember" xlink:label="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvesteeNameDomain_F2EFF7374AC31D5B66E7750167D93617" xlink:to="loc_mac_OtherJointVenturesMember_5C9E9157C5E53C613596750167D910A2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_4719AC41BD4822E3E145750167D91DC6" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue_7D9F691ED57999CA433E750167D9D90D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent_26D527FF9AADEA95D630750167DA8A9C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements_8497DCC41AE75E28A3A3750167DAD3BF" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue_260F1AD04DFD408A8104750167DA0D25" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RevenuesAbstract_21D93B469671A61911EF750167D9811A" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue_FE29BCA90BADE600E658750167DA5592" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue_92E857D5F85D8FBB87E9750167DACBAC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense_BA08FD15EA3C2EC6F633750167DAE104" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization_E968DD4477D28263C07D750167DA2A4D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OperatingExpensesAbstract_3C586AFFDCD75A54D2F8750167DA1BF5" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses_6D86710F2837D4C1306C750167DA71CC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_7E048014821B0CE87547750167DA1470" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss" xlink:label="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss_E53E518E457AD4F9E900750167DA9A2A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_042FCD8AD6E6BEB181F7750167D935B1" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_9DB4E9CC8840FB89BDB2750167DAAFAC" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_D90B6F64E17F9BB846588284FE15B7DB" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsTable" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_D90B6F64E17F9BB846588284FE15B7DB" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_00C6C139DECED93C0EE38284FE179E77" xlink:to="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InlandCenterMember" xlink:label="loc_mac_InlandCenterMember_16BC2483D6249F3B3F8C8284FE1880B7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_InlandCenterMember_16BC2483D6249F3B3F8C8284FE1880B7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SearsLocationsMember" xlink:label="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_SearsLocationsMember_14C66D193EC25ED10CFA8284FE187396" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CountryClubPlazaMember" xlink:label="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_B9E80A0483FD64D1DE6D8284FE18BB6B" xlink:to="loc_mac_CountryClubPlazaMember_75DB11598B133A48E4298284FE18B847" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_8E60291BEF37B69C196A8284FE184B2B" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PPRPortfolioMember" xlink:label="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_PPRPortfolioMember_2DC7E33B0AF27111AE808284FE1860F0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_50EAE168CE73667C5F7B8284FE18130B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_ArrowheadTowneCenterMember_50EAE168CE73667C5F7B8284FE18130B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MACHeitmanPortfolioMember" xlink:label="loc_mac_MACHeitmanPortfolioMember_CA06D7608ADBFFE530418284FE183D5A" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_1A142F59C3A6203849E28284FE184DE0" xlink:to="loc_mac_MACHeitmanPortfolioMember_CA06D7608ADBFFE530418284FE183D5A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_C6AD3C0159B5FF68E01A8284FE18958F" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LakewoodCenterMember" xlink:label="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_LakewoodCenterMember_5621DCCB930CCB0B0C348284FE18F711" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LosCerritosCenterMember" xlink:label="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_LosCerritosCenterMember_368E89175F057FB8B7968284FE1970D7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SouthPlainsMallMember" xlink:label="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_SouthPlainsMallMember_8C38CA0C295D3A538D158284FE19C7C1" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WashingtonSquareMember" xlink:label="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_WashingtonSquareMember_03576265FF218C30249A8284FE19E7D3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMember" xlink:label="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_DeptfordMallMember_79F6BF7E4658A6FB2CB18284FE1906CF" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMember" xlink:label="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_FlatIronCrossingMember_7CBF9840062F1A4955BC8284FE195B29" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TwentyNinthStreetMember" xlink:label="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_91EB08529DC82A7844638284FE183031" xlink:to="loc_mac_TwentyNinthStreetMember_F0BB5F61AA32DE2404F18284FE190DCA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsTable_286F91A0A37A57110E448284FE17EDF4" xlink:to="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage" xlink:label="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_21028A753133BD41F2898284FE19ECAD" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage_21028A753133BD41F2898284FE19ECAD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_A01B6BE271DA1E90B6968284FE19025C" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_A01B6BE271DA1E90B6968284FE19025C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationConsiderationTransferred1" xlink:label="loc_us-gaap_BusinessCombinationConsiderationTransferred1_E51447584EE0375ED0688284FE19AD4D" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_BusinessCombinationConsiderationTransferred1_E51447584EE0375ED0688284FE19AD4D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsToAcquireBusinessesGross" xlink:label="loc_us-gaap_PaymentsToAcquireBusinessesGross_E2DF440608F8E17F1AD88284FE1AE15C" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_PaymentsToAcquireBusinessesGross_E2DF440608F8E17F1AD88284FE1AE15C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfDebt" xlink:label="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_RepaymentsOfDebt_BC310F4E0FCB6388B8FE8284FE1B1FF4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_4BD2356F423AB1A04AFD8284FE1A9400" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_4BD2356F423AB1A04AFD8284FE1A9400" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NumberOfStores" xlink:label="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_NumberOfStores_AF3BE24FAD51C260BB498284FE1B236C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_JointVentureOwnershipPercentagePurchased" xlink:label="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_JointVentureOwnershipPercentagePurchased_668270497362AADDB4CC8284FE1A0EC4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_DCDB18157C93905C982F8284FE1AB7EC" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_DCDB18157C93905C982F8284FE1AB7EC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_FF177BC97D57639254B38284FE19C741" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_FF177BC97D57639254B38284FE19C741" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_E48E260C4C2229A1A66E8284FE1ADA6D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessCash" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="locator" />
    <presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_ProceedsfromDivestitureofBusinessCash_06787380F181178A9DEA8284FE19DDD6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ProceedsfromDivestitureofBusinessAssumptionofDebt" xlink:label="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="locator" />
    <presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt_778135EC0F729661478E8284FE19D0E8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F25A0A9E69D6554389C78284FE1BD861" xlink:type="locator" />
    <presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_BAD6FF7C9F015DE2CDD38284FE19B6E6" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_F25A0A9E69D6554389C78284FE1BD861" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract" xlink:label="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_7235137D6BF15FB0AF2B1C1CF21E4FB9" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock" xlink:label="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_7235137D6BF15FB0AF2B1C1CF21E4FB9" xlink:to="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock_5F9B3CB3BE4753CBBBC38CF565161852" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock" xlink:label="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract_7235137D6BF15FB0AF2B1C1CF21E4FB9" xlink:to="loc_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock_E4952FD2FD38591BAD5D7FA9EBF89C6D" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayable" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MortgageNotesPayableDisclosureTextBlock" xlink:label="loc_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_066F54698F355D4DB669E13BC4A39114" xlink:to="loc_us-gaap_MortgageNotesPayableDisclosureTextBlock_68BFA7A961405F629299CC6D8CA76D8F" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_538F8FB1FFE462BFCD077ED2BCCD2B6F" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_538F8FB1FFE462BFCD077ED2BCCD2B6F" xlink:to="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_A77A50B583A072E3BE997ED2BCCD355F" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_401DD7B69CEB3CE8D23F7ED2BCCDE53E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_441A1BC6DDF4087AFE8D7ED2BCCD1E24" xlink:to="loc_mac_ArrowheadTowneCenterMember_401DD7B69CEB3CE8D23F7ED2BCCDE53E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_0508E1175F1F6C03308A7ED2BCCD8B79" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMember" xlink:label="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_2251E7FB08D714592F4D7ED2BCCE67E5" xlink:to="loc_mac_FreeholdRacewayMallMember_AB49F7765ECD76E0D5137ED2BCCE7101" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_815FA4A95C4BC0E0BEA47ED2BCCEB2BF" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_9263BC8C1FBEB4E8BEC17ED2BCD37C2E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_9263BC8C1FBEB4E8BEC17ED2BCD37C2E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMallAtNorthgateMortgageMember" xlink:label="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_TheMallAtNorthgateMortgageMember_BF0FB92BD0D53658D6347ED2BCD3AED0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_7CFAA30D027B93C534987ED2BCD346DA" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4C4E9D18CEE3D81F32F67ED2BCCE3571" xlink:to="loc_mac_SuperstitionSpringsCenterMember_7CFAA30D027B93C534987ED2BCD346DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_F9B8A640552B39CAD2F67ED2BCCD1DAA" xlink:to="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_A6FB7C78A28B964078FE7ED2BCD33D47" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DeferredFinanceCostsNet_A6FB7C78A28B964078FE7ED2BCD33D47" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentFaceAmount_AA4248E9F85FFD2FBEA97ED2BCD37A80" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_39C93C0C6B82A849EBFC7ED2BCD3E47B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_GainsLossesOnExtinguishmentOfDebt_97D1B43745180A62FAB87ED2BCD3F667" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PercentageOfLoanAssumedByThirdParty" xlink:label="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_PercentageOfLoanAssumedByThirdParty_8F3F9F5228F856E1DCEA7ED2BCD35164" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_7B03D65C763A52678B057ED2BCD4B45A" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_7B03D65C763A52678B057ED2BCD4B45A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_3AE5FAA5B65E8014DF437ED2BCD4BDC2" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_3AE5FAA5B65E8014DF437ED2BCD4BDC2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MortgageNotesPayableProbableRecourseAmount" xlink:label="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_mac_MortgageNotesPayableProbableRecourseAmount_AC7CD8E06336B658CD557ED2BCD40771" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestCostsCapitalized" xlink:label="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_InterestCostsCapitalized_7A604A5E2547DCB908D57ED2BCD4FAAA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_9793DB0718EF45A93FE27ED2BCD385E9" xlink:to="loc_us-gaap_NotesPayableFairValueDisclosure_B513EDA485C718F02FD17ED2BCD4CE66" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_C80A120FF77B7439B97A5F31110D8AA9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_C80A120FF77B7439B97A5F31110D8AA9" xlink:to="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:to="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_BC6F2A08C55FE0E51F955F31110EACD6" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_FB6FF8E9DAEAB2EAE5BC5F31110EBF60" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageOneMember" xlink:label="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_DeptfordMallMortgageOneMember_1BA92F8C3137FFF221D85F31110EE2F6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsAtNiagaraMortgageMember" xlink:label="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_FashionOutletsAtNiagaraMortgageMember_AD0FCD75EDBA0CA1E56B5F31110E7A50" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StonewoodCenterMortgageMember" xlink:label="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_StonewoodCenterMortgageMember_425F0E547A8CB821D6B85F31110E2CB0" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_F6BC4F2773E178C3293D5F31110E78D7" xlink:to="loc_mac_SuperstitionSpringsCenterMember_6955FA8237E90F219B7F5F31110EFEC2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_5D3FEB778F9C9A039F865F31110D7190" xlink:to="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedPremium" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedPremium_26C79CD1012789E8AAAB5F31110E5E57" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscount_04CDD17905881CC2C56B5F31110F353D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_31EFD30F2F6CB71B5A675F31110ED9DB" xlink:to="loc_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet_FFF4E9FA50A7F38F5A665F31110F6A41" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_531580BDDFE7B088287A7E28B87A0D5C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_531580BDDFE7B088287A7E28B87A0D5C" xlink:to="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:to="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentAxis_D3C869BF4E80371243E97E28B87AEC65" xlink:to="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMortgageMember" xlink:label="loc_mac_ArrowheadTowneCenterMortgageMember_98095FD6AC0A2B2770297E28B87AFF21" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_ArrowheadTowneCenterMortgageMember_98095FD6AC0A2B2770297E28B87AFF21" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ChandlerFashionCenterMortgageMember" xlink:label="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_ChandlerFashionCenterMortgageMember_51644D7BE97AD674FE557E28B87A3C99" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DanburyFairMallMortgageMember" xlink:label="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DanburyFairMallMortgageMember_C8A9D4007CE85DD653257E28B87A2EB6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageOneMember" xlink:label="loc_mac_DeptfordMallMortgageOneMember_76933442E0925D0066A67E28B87A47F2" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DeptfordMallMortgageOneMember_76933442E0925D0066A67E28B87A47F2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DeptfordMallMortgageTwoMember" xlink:label="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_DeptfordMallMortgageTwoMember_C486524C5FCC8E643BCB7E28B87AFB29" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsOfChicagoMortgageMember" xlink:label="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FashionOutletsOfChicagoMortgageMember_BA08C0D9A68118E752157E28B87AB94D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FashionOutletsAtNiagaraMortgageMember" xlink:label="loc_mac_FashionOutletsAtNiagaraMortgageMember_429AEC9B40B1DA87703B7E28B87A4F4F" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FashionOutletsAtNiagaraMortgageMember_429AEC9B40B1DA87703B7E28B87A4F4F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlagstaffMallMortgageMember" xlink:label="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FlagstaffMallMortgageMember_5A15DDFD6C96F0F230757E28B87A3151" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FlatIronCrossingMortgageMember" xlink:label="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FlatIronCrossingMortgageMember_53B8044DF600AB039C247E28B87A8CBC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_FreeholdRacewayMallMortgageMember" xlink:label="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="locator" />
    <presentationArc order="10" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_FreeholdRacewayMallMortgageMember_5FA3B1A4575DB3E6C0BA7E28B87A10D9" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GreenAcresMallMortgageMember" xlink:label="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="locator" />
    <presentationArc order="11" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_GreenAcresMallMortgageMember_976584BF8236588698657E28B87A8CDA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_KingsPlazaMortgageMember" xlink:label="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="locator" />
    <presentationArc order="12" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_KingsPlazaMortgageMember_68136D842B82D54508DC7E28B87A4570" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMallAtNorthgateMortgageMember" xlink:label="loc_mac_TheMallAtNorthgateMortgageMember_1DD00FCDEF65E3EE0A9D7E28B87A06CD" xlink:type="locator" />
    <presentationArc order="13" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TheMallAtNorthgateMortgageMember_1DD00FCDEF65E3EE0A9D7E28B87A06CD" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheOaksOneMortgageMember" xlink:label="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="locator" />
    <presentationArc order="14" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TheOaksOneMortgageMember_0AEF53CDABD32CC118937E28B87B1E31" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PacificViewMortgageMember" xlink:label="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="locator" />
    <presentationArc order="15" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_PacificViewMortgageMember_BBD21EF53B3B800178D07E28B87B9A2F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_QueensCenterMember" xlink:label="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="locator" />
    <presentationArc order="16" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_QueensCenterMember_EDA0E9221B3178B06F7C7E28B87B6F8D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SantaMonicaPlaceMortgageMember" xlink:label="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="locator" />
    <presentationArc order="17" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SantaMonicaPlaceMortgageMember_F3F2FCF1BE177861DA847E28B87B61E4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SanTanVillageRegionalCenterMortgageMember" xlink:label="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="locator" />
    <presentationArc order="18" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SanTanVillageRegionalCenterMortgageMember_05C4D20F12789AB873767E28B87BB6B8" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StonewoodCenterMortgageMember" xlink:label="loc_mac_StonewoodCenterMortgageMember_9D146A6BDBFA96565FF77E28B87B5772" xlink:type="locator" />
    <presentationArc order="19" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_StonewoodCenterMortgageMember_9D146A6BDBFA96565FF77E28B87B5772" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SuperstitionSpringsCenterMember" xlink:label="loc_mac_SuperstitionSpringsCenterMember_D7266D58BDFB5E1195277E28B87BF8B6" xlink:type="locator" />
    <presentationArc order="20" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_SuperstitionSpringsCenterMember_D7266D58BDFB5E1195277E28B87BF8B6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TowneMallMortgageMember" xlink:label="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="locator" />
    <presentationArc order="21" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TowneMallMortgageMember_8A86EFA5FFB4E7FAA2467E28B87B63AC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TucsonLaEncantadaMortgageMember" xlink:label="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="locator" />
    <presentationArc order="22" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_TucsonLaEncantadaMortgageMember_8C270E185C1BE0B0756E7E28B87BC33A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MallOfVictorValleyMortgageMember" xlink:label="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="locator" />
    <presentationArc order="23" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_MallOfVictorValleyMortgageMember_8C99EAC25B895E3F1E4D7E28B87B1BA4" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_VintageFaireMallMortgageMember" xlink:label="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="locator" />
    <presentationArc order="24" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_VintageFaireMallMortgageMember_F03FAC466F7D9056C7097E28B87B302A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WestsidePavilionMortgageMember" xlink:label="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="locator" />
    <presentationArc order="25" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_4DBA678987C54C099C417E28B87A9686" xlink:to="loc_mac_WestsidePavilionMortgageMember_AD63A8D1AEB234A446477E28B87B3840" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentTable_A7A31B363CA7678197497E28B87AEA18" xlink:to="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent" xlink:label="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent_E02075A9FA92EBE85E807E28B87BAD85" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SecuredDebtNonrelatedParty" xlink:label="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_mac_SecuredDebtNonrelatedParty_76951A2704FF5B37C6E67E28B87B14F9" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_AAE8DA28FE38CE1866857E28B87B4957" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_AAE8DA28FE38CE1866857E28B87B4957" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:label="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E99B75FC5D67176C34FA7E28B87BEEB3" xlink:to="loc_us-gaap_DebtInstrumentPeriodicPayment_FCB1DFA82506C4C6EE857E28B87B3BB3" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/MortgageNotesPayableTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:label="loc_us-gaap_DebtDisclosureAbstract_4530D0FADE1159E48CBB42DBFC3326ED" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfMortgageNotesPayableTableTextBlock" xlink:label="loc_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_4530D0FADE1159E48CBB42DBFC3326ED" xlink:to="loc_mac_ScheduleOfMortgageNotesPayableTableTextBlock_F75DFEA743B956C2BEA14961504267F6" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock" xlink:label="loc_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DebtDisclosureAbstract_4530D0FADE1159E48CBB42DBFC3326ED" xlink:to="loc_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock_6EEB49B9996750CB9943A153CBDCA65E" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/NoncontrollingInterests" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="loc_us-gaap_NoncontrollingInterestAbstract_43AAC8DAEC545FBBBBB40710E53FF089" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestDisclosureTextBlock" xlink:label="loc_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NoncontrollingInterestAbstract_43AAC8DAEC545FBBBBB40710E53FF089" xlink:to="loc_us-gaap_MinorityInterestDisclosureTextBlock_E6DDD81CB92C5B72AD271C9A376F20F5" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/NoncontrollingInterestsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncontrollingInterestAbstract" xlink:label="loc_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:label="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_NoncontrollingInterestAbstract_017C0367D4725B2A88A2AC7D2C1DA232" xlink:to="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:to="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_LegalEntityAxis_721FBB888A665B3AADB485AA260F0181" xlink:to="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMacerichPartnershipLPMember" xlink:label="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityDomain_C602C1798E3F599FACAE42C1F132B975" xlink:to="loc_mac_TheMacerichPartnershipLPMember_48042365164E5D6288D9E9BCC3F4D351" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:label="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_A559DB2E6504577698727E8D59DE2757" xlink:to="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_4E518633251859D3916A23840274941D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_8774B837EBD15D4C99254C043DE383AE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_4EE0E58125EA56C2B26B27E574186DAB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays" xlink:label="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays_E4AEF1279F205B87B990595E43E9D165" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MinorityInterestRedemptionValue" xlink:label="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_3239D44C8AA05E8D9139CA2F97362013" xlink:to="loc_mac_MinorityInterestRedemptionValue_66F23D56789154A08419DCF00DB55592" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/Organization" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_0AE100D966695E5BA229A83296436462" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NatureOfOperations" xlink:label="loc_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_0AE100D966695E5BA229A83296436462" xlink:to="loc_us-gaap_NatureOfOperations_CC27A46F80A1527F98C84414BC440EAB" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/OrganizationDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:label="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:label="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_86D636FEE39D5A2BA8AEA2DD0CB2DD3E" xlink:to="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:to="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:type="arc" />
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_LegalEntityAxis_05B565CCAAE95AB487ED43BE0B2CFC30" xlink:to="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_TheMacerichPartnershipLPMember" xlink:label="loc_mac_TheMacerichPartnershipLPMember_12C938507AAB502881016EF8F890A39D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_dei_EntityDomain_CBC877F15B065B03AAAE03ACA711ADA2" xlink:to="loc_mac_TheMacerichPartnershipLPMember_12C938507AAB502881016EF8F890A39D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:label="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_B774A68E3B4856D9A10FCD5ECDD37A3F" xlink:to="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByParent" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_FE84F28C4FF95E63A19873BCA3DBFE1C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:to="loc_us-gaap_MinorityInterestOwnershipPercentageByParent_FE84F28C4FF95E63A19873BCA3DBFE1C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NumberOfRealEstateManagementCompanies" xlink:label="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_9B3877B515FB523985AE29CAD022508E" xlink:to="loc_mac_NumberOfRealEstateManagementCompanies_F2CBE58AD8B95CA2AAF87C1DF7F2EC97" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/PropertyNet" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAbstract_0B31C8A78F295C008E515B6D91CDD0A4" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_0B31C8A78F295C008E515B6D91CDD0A4" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_4EE7B3C008B059799C9405038268DA3C" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/PropertyNetDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Land" xlink:label="loc_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_Land_BE8763988C505AF4A03405F09A22AC59" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentBuildingAndBuildingImprovements" xlink:label="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_InvestmentBuildingAndBuildingImprovements_0317B1BA52CB528AA3BFCEC432386C75" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_TenantImprovements" xlink:label="loc_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_TenantImprovements_EAB10CF61BA359F085ABAE93156B5211" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FixturesAndEquipmentGross" xlink:label="loc_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_FixturesAndEquipmentGross_0BC97A816E8E5BC1BF469DBCA559CD14" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DevelopmentInProcess" xlink:label="loc_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_DevelopmentInProcess_2495C20405A35A17A6D48634444A8A73" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyAtCost_FD41AC31909C5F71B6EDA554F83DC575" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation_8D116FDD20CB54BFA66B2D9C06B8E9C7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_034BE81A7E39510781B2C21EC0975860" xlink:to="loc_us-gaap_RealEstateInvestmentPropertyNet_E25A7BD547F55AF88365A52CDBC3AC7F" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/PropertyNetNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAbstract_B72AEF851A2180A74AC77E28814C38D9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_B72AEF851A2180A74AC77E28814C38D9" xlink:to="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_0866F83A3E3169D84EC27E28814CEB54" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ArrowheadTowneCenterMember" xlink:label="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:to="loc_mac_ArrowheadTowneCenterMember_87002C830E104FDC6FA67E28814DBF9F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MACHeitmanPortfolioMember" xlink:label="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_C4B1B92DDAFD2EBCA9A27E28814D9217" xlink:to="loc_mac_MACHeitmanPortfolioMember_EE3736F76B7FF5285BBA7E28814DCC76" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_C6AE3F8B3760AC5260DE7E28814C78E6" xlink:to="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DepreciationNonproduction" xlink:label="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_us-gaap_DepreciationNonproduction_C2191E2FBF760F918DFF7E28814D7A95" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets" xlink:label="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_B95A3C5D5183A17D9C237E28814D8477" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets_B95A3C5D5183A17D9C237E28814D8477" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold" xlink:label="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold_99756662A8545EB80DD37E28814D479C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossOnLandSales" xlink:label="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_GainLossOnLandSales_C0669C473C3CCD21D95F7E28814D33F6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1_CC302B35960043D903CC7E2883B9D2EE" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LossonSaleorWriteDownofAssets" xlink:label="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_LossonSaleorWriteDownofAssets_B6A6988438295D531BEF7E28814DC43D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_WriteOffOfDevelopmentCost" xlink:label="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_WriteOffOfDevelopmentCost_2B9CB0C104C4352C5F8E7E28814D1B33" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_GainLossonSaleorWriteDownofAssets" xlink:label="loc_mac_GainLossonSaleorWriteDownofAssets_F7A5BCCC58FD0D5BA5AD7E28814D78BE" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_1F503A730D7C625EE8217E28814D0DA1" xlink:to="loc_mac_GainLossonSaleorWriteDownofAssets_F7A5BCCC58FD0D5BA5AD7E28814D78BE" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/PropertyNetTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PropertyPlantAndEquipmentAbstract" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentAbstract_ED1046F5320B5193BD44B894025E1D9F" xlink:to="loc_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock_5E3BDC8A11755CD5BCF32E9CBE40E9F8" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactions" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_63A71D1671985C068F29184C5F49DB7B" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:label="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_63A71D1671985C068F29184C5F49DB7B" xlink:to="loc_us-gaap_RelatedPartyTransactionsDisclosureTextBlock_7D53676C912552598E275BEF411C4ACB" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_489DAE76A5FEFFD365047E28B7CBFA7C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:label="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_489DAE76A5FEFFD365047E28B7CBFA7C" xlink:to="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateAxis" xlink:label="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableRateDomain" xlink:label="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateAxis_576542462AA7E7F83B9A7E28B7CCC720" xlink:to="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LondonInterbankOfferedRateLIBORMember" xlink:label="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_2F38B902FF32647ECA617E28B7CCE314" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableRateDomain_50823FC95254AA675EF27E28B7CC9986" xlink:to="loc_us-gaap_LondonInterbankOfferedRateLIBORMember_2F38B902FF32647ECA617E28B7CCE314" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain" xlink:label="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis_6278855B3B1E06C61D2D7E28B7CC6F4B" xlink:to="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CandlestickPointMember" xlink:label="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RealEstateAndAccumulatedDepreciationNameOfPropertyDomain_5373264480F8F311C2B47E28B7CC6BCB" xlink:to="loc_mac_CandlestickPointMember_A0AA92749F1BD820DD297E28B7CC3A0F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_EEE65471FA65F082966B7E28B7CCE9FA" xlink:to="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember_8867CB8D74A282C716CF7E28B7CC41FC" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NorthwesternMutualLifeMember" xlink:label="loc_mac_NorthwesternMutualLifeMember_C439DCF8CE839AA69A9E7E28B7CC7E02" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_NorthwesternMutualLifeMember_C439DCF8CE839AA69A9E7E28B7CC7E02" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_UnconsolidatedJointVenturesMember" xlink:label="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_mac_UnconsolidatedJointVenturesMember_1ED899A11BDE3AE0527D7E28B7CCC6B3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AffiliatedEntityMember" xlink:label="loc_us-gaap_AffiliatedEntityMember_6CAF41EB601F08A613457E28B7CC5A52" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyDomain_82FA909B727F68F650147E28B7CCA259" xlink:to="loc_us-gaap_AffiliatedEntityMember_6CAF41EB601F08A613457E28B7CC5A52" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_6904A2AD3BE5981A29C17E28B7CC9918" xlink:to="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember" xlink:label="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:to="loc_mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember_07EE9309E2CE5CC0B53E7E28B7CC848D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableMember" xlink:label="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ReceivableTypeDomain_3928A9FB24EAB3C032C27E28B7CCDD11" xlink:to="loc_us-gaap_NotesReceivableMember_3BC2D6B56BF62C78E5777E28B7CD226F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_CA71E4B706A053B885B67E28B7CD9540" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_95C80D8D3CD38AEAC3EA7E28B7CD5C5C" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_StockUnitsMember_95C80D8D3CD38AEAC3EA7E28B7CD5C5C" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_2D70FC992544D29C482E7E28B7CD6B98" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_LongTermIncentivePlanMember_2D70FC992544D29C482E7E28B7CD6B98" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_F57FCF10CE86B6FFA1897E28B7CD5230" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_mac_StockAwardsMember_F57FCF10CE86B6FFA1897E28B7CD5230" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_B53A73D22576A550997A7E28B7CDE06A" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_us-gaap_EmployeeStockOptionMember_B53A73D22576A550997A7E28B7CDE06A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_09B249BEF573A47240547E28B7CDA1F4" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_BA33C2A64E01EA88063F7E28B7CDF959" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_09B249BEF573A47240547E28B7CDA1F4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionLineItems" xlink:label="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_CA76C85D4F2BDB2E11D27E28B7CC6355" xlink:to="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_ManagementFeesRevenue_F1826E76E6681B0E3A047E28B7CD2CAB" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_DevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_DevelopmentAndLeasingFeesRevenue_6CDD0711F7D2541A16C87E28B7CD271B" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ManagementDevelopmentAndLeasingFeesRevenue" xlink:label="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/totalLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_ManagementDevelopmentAndLeasingFeesRevenue_05733B6AC50D53CE097E7E28B7CD1F0A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty" xlink:label="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty_DB6B94BE0C824D69C1027E28B7CDD7FA" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_InterestExpensePayableRelatedParty" xlink:label="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_InterestExpensePayableRelatedParty_B738A5E9B3EB2EE1749D7E28B7CD45F7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DueFromAffiliates" xlink:label="loc_us-gaap_DueFromAffiliates_86D655A2CEDA9818F5D67E28B7CD4442" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_DueFromAffiliates_86D655A2CEDA9818F5D67E28B7CD4442" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NotesReceivableInterestRate" xlink:label="loc_mac_NotesReceivableInterestRate_B7BC14EC04599E2ACB667E28B7CD447C" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_mac_NotesReceivableInterestRate_B7BC14EC04599E2ACB667E28B7CD447C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestIncomeRelatedParty" xlink:label="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_InterestIncomeRelatedParty_FBED036F54D54A530CC17E28B7CDA461" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableRelatedParties" xlink:label="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionLineItems_0F1EC64D360CBA06A09D7E28B7CD884E" xlink:to="loc_us-gaap_NotesReceivableRelatedParties_03A70A877CD28C6743577E28B7CD0F41" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/RelatedPartyTransactionsTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionsAbstract" xlink:label="loc_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:type="locator" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock" xlink:label="loc_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_RelatedPartyTransactionsAbstract_BA30EE65C081559A8C62DFBA4989C076" xlink:to="loc_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock_57085253DAA95DC1B86CFDB6EAEC39D1" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlans" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_ADFFED5A73CA5E7183AE38C86DCC45BA" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_ADFFED5A73CA5E7183AE38C86DCC45BA" xlink:to="loc_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_C5CFDEA353D95CDD964D4AB6BEFB1C3A" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_5B4B50FBA44A56689D5F55A58945BECD" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_5B4B50FBA44A56689D5F55A58945BECD" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:to="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_14272366F8F65551AA9BEA32966446DA" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_46A3AA9BE78D5A0085C3A954CE0E369F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_LongTermIncentivePlanMember_46A3AA9BE78D5A0085C3A954CE0E369F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_4AFA1BE7D8AE55EA8F052FE3362F702E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_StockAwardsMember_4AFA1BE7D8AE55EA8F052FE3362F702E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_06F37FDB7F61594E8E7BD64FBB6CE398" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_mac_StockUnitsMember_06F37FDB7F61594E8E7BD64FBB6CE398" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_333A198907875A018D47E679CA195C84" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_us-gaap_EmployeeStockOptionMember_333A198907875A018D47E679CA195C84" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_3117F5BA120251D893587488F9CBC6B5" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7B0A648A3C1E58DCBCFF4FA09F2BC529" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_3117F5BA120251D893587488F9CBC6B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_EA968EAE6D4453E4B11F7249251D2E33" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_AAC201E8D9BB5CDA8D3B769CBB829B38" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_1968F708074E58F59E8807FEB4FE9B24" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE0967256F14D755D7007EC1C33F2362" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingAxis" xlink:label="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VestingDomain" xlink:label="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VestingAxis_C300A8705C2746467D267EC8C9B0FA50" xlink:to="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheOneMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheOneMember_0A53314A2E6D0FB1FF447ECF7CC03A1B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheTwoMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheTwoMember_F94995025D7C06CC29D77ECC367CA01B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationAwardTrancheThreeMember" xlink:label="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VestingDomain_B613A3FE3C54D02AAD347EC8C9BB2F74" xlink:to="loc_us-gaap_ShareBasedCompensationAwardTrancheThreeMember_4B7B50D0E35F1C89C13B7ECD9A2992A4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_6E0974326819DF10BA177EC1C33FA4C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_mac_StockUnitsMember_6537C2D40F304F9D7FDD7EC1C33FC744" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_mac_LongTermIncentivePlanMember_1ABA45187DD5787491B97EC1C33FB85F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_us-gaap_EmployeeStockOptionMember_15B03F4E1DFA6E68BBD17EC1C34045E5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_7F72AD233F381E8AE26D7EC1C33FDB02" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_C5A4F24DEB2E98DD3AFA7EC1C3403AE2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_23C523B01CB0F9A0FF017EC1C33FA41E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate_06D24FDF102BC7571DCA7EC1C3402B3A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_7318F2301B407675A26B7EC1C340E22B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_AB8AF75C9C186D0D3E337EC1C3408596" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_2BC3C43201C16DC083EE7EC1C3409D72" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_494771E9806BAFAC635B7EC1C340B74C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_F7438A933CC1C97299B27EC1C3402050" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized" xlink:label="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_8CC70DDC2C53851318DE7EC1C340C8C5" xlink:to="loc_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_6C0625AF86AC9CEBCCD87EC1C340156C" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_3489920D1C405D1AA0CD5F2FF866ADBE" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_3489920D1C405D1AA0CD5F2FF866ADBE" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:to="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_009E489A33F65389A2A860D1C50138D4" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_LongTermIncentivePlanMember" xlink:label="loc_mac_LongTermIncentivePlanMember_281CCD8358D75AEA817B7B6DB6C6E315" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_LongTermIncentivePlanMember_281CCD8358D75AEA817B7B6DB6C6E315" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockAwardsMember" xlink:label="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_StockAwardsMember_FFC2E00BE8065C59B389E0DDE0D33D94" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PhantomShareUnitsPSUsMember" xlink:label="loc_us-gaap_PhantomShareUnitsPSUsMember_DCBABBAE5DE059AF88B9FF13E6BDD410" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_us-gaap_PhantomShareUnitsPSUsMember_DCBABBAE5DE059AF88B9FF13E6BDD410" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_StockUnitsMember" xlink:label="loc_mac_StockUnitsMember_9408ABDE7AFE56A2A7DA6E13F1B8975D" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_E8D69CBEB95B5D48A0075FF18F089B33" xlink:to="loc_mac_StockUnitsMember_9408ABDE7AFE56A2A7DA6E13F1B8975D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_CE4ECB068CC35408AA62497FAC2D4A40" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_90B4E485C1C85C1A8CC3639963148C2E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_BF6858EC246F5BA0B3BB3C19219EEA7D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_B3565F564CDA56B1A2613BBA301A3B31" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_CD7FA13772885B99AF5D2ABDB1574251" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_B667092E19B7585A957EAFC64BEB93A1" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_81FE487A4F89586486340FB2D64608C3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" xlink:label="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_612597C2B0155513A696BADD6E5A584C" xlink:to="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_EFF6639D9CB45A8C9C42D52F39422F61" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_895CB1C142FC5D0888618B15FDACA8BC" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_1147F28BE5E654379BD6887DDF036B8B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_EC88405B471C5E72B3864631B901ED70" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_27609C68671B52FEB11C474BB4CF361E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_2FD5E45A7A7051C3AD462F2CC9C00822" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DB1CD0E706DBF6AE5ED07E28B7B0C9FB" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DB1CD0E706DBF6AE5ED07E28B7B0C9FB" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardTypeAxis" xlink:label="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:to="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AwardTypeAxis_349BC7A255390CE6F73E7E28B7B175E0" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockAppreciationRightsSARSMember" xlink:label="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:to="loc_us-gaap_StockAppreciationRightsSARSMember_2C8A5B5CC80D259051F77E28B7B114E8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_EmployeeStockOptionMember" xlink:label="loc_us-gaap_EmployeeStockOptionMember_FD37850B2118E12453177E28B7B1D431" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_56BEEC387E33EA3AE6687E28B7B1DE84" xlink:to="loc_us-gaap_EmployeeStockOptionMember_FD37850B2118E12453177E28B7B1D431" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_0D0097F235E72E0B8F277E28B7B0B6DE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_839ECEA58BA28DCAFB8C7E28B7B13145" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_26220B07DB8756ACC73E7E28B7B1ADAE" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_26220B07DB8756ACC73E7E28B7B1ADAE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised_54B06F546E2B42549AF67E28B7B15A7E" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment_BD3121D5CFD5D16D78C07E69ACE0FAB2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward_D2233F108DC8264765B47E28B7B12771" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_650D1E03E219491B40407E28B7B136AF" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward" xlink:label="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9E6E55DCEEBEF41B91BF7E28B7B13074" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_9E6E55DCEEBEF41B91BF7E28B7B13074" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_706DD188251FEEA0CA657E28B7B1519F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_706DD188251FEEA0CA657E28B7B1519F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_477F65CFE7199B70A4567E28B7B18819" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_477F65CFE7199B70A4567E28B7B18819" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/verboseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue_7E70CC7B574DB8EACFFF7E6BC47F7990" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_666EC2D68076826C401E7E28B7B25A94" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward_FF4036A7D75BEEE389897E28B7B193D6" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_666EC2D68076826C401E7E28B7B25A94" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_8A51121CD234ADAA98687E28B7B20D12" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_391F3EF3AB4BA12415F37E28B7B2E0F0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_1FBC4EA604CFEAC5A92D7E28B7B2D48A" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment" xlink:label="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment_E137BBB5F0E706AF7BE07E725FB79678" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward_FA29647C79F6D7ECFD447E28B7B2FC0E" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_D8D4750E43623ABE2F197E28B7B2BD76" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems_0112C5A25A94AD2153A17E28B7B17FBE" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/periodStartLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_EA066963876798452E817E28B7B218D0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_20E2B79B83595FE11D1A7E28B7B2E9D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_599DBE5B892DCAF877FE7E28B7B2B845" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice" xlink:label="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice_34F547EC6D05E5FA0A357E74817889A2" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:label="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/periodEndLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward_4D26B79C415F32539DA07E28B7B2E8B5" xlink:to="loc_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_15F8B8E6B70BC9F9D6507E28B7B25F73" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/ShareAndUnitBasedPlansTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:label="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE7834979B2057238170970F2161FB5F" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE7834979B2057238170970F2161FB5F" xlink:to="loc_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock_39BB2F7110D45F6E94158BB2CC61B474" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock" xlink:label="loc_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE7834979B2057238170970F2161FB5F" xlink:to="loc_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock_BE3AD4C18B915293AEC0C24F41B033A5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_DE7834979B2057238170970F2161FB5F" xlink:to="loc_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock_B3B902100A6D5D5596962E8417CBA075" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/StockholdersEquity" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="loc_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityNoteAbstract_5A054E271E5950BC88C125E4889AB37F" xlink:to="loc_us-gaap_StockholdersEquityNoteDisclosureTextBlock_9205F7C9A5375AE49F11AFE4577404BD" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/StockholdersEquityDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="loc_us-gaap_StockholdersEquityNoteAbstract_D72E7CCD328C7CFB4B477E28B854C1F9" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_StockholdersEquityNoteAbstract_D72E7CCD328C7CFB4B477E28B854C1F9" xlink:to="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:to="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_50C2E31F824D88345B937E28B85488AF" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_F2EB0601B564E8AA352E7E28B855A849" xlink:to="loc_us-gaap_SubsequentEventMember_7C6AA3AF11962C7CCCD87E28B855CD64" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfStockByClassTable_21F7B56164237F342FDF7E28B854656F" xlink:to="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockRepurchaseProgramAuthorizedAmount1" xlink:label="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_StockRepurchaseProgramAuthorizedAmount1_07551F8AEB212F0D596B7E28B855752F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2009/role/negatedLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt_6EBCB689852144EB2B277E28B8552955" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" xlink:label="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_16EFB0DD525EB8614F197E28B855AF6A" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_4CB755AC71543ED2C0B07E28B855FD89" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NumberOfDividendsDeclared" xlink:label="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_NumberOfDividendsDeclared_21AEB5ED65FDA2AD10157E28B8551FA3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="locator" />
    <presentationArc order="6" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_302EEF64EB7A3AF24E757E28B8554C76" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_12D3B3D4DA7B66984C797E28B8558AB3" xlink:type="locator" />
    <presentationArc order="7" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_us-gaap_CommonStockParOrStatedValuePerShare_12D3B3D4DA7B66984C797E28B8558AB3" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_MaximumAggregateCommonStockOfferPrice" xlink:label="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="locator" />
    <presentationArc order="8" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_MaximumAggregateCommonStockOfferPrice_996FBFD7AE0F098E24947E28B855992F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_PercentageOfCommissionToSalesAgent" xlink:label="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="locator" />
    <presentationArc order="9" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassOfStockLineItems_BCA3AE0377556B16D2A47E28B8558CC1" xlink:to="loc_mac_PercentageOfCommissionToSalesAgent_AD8A4F94797EF6FA00D87E28B8557E48" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SubsequentEvents" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract_C97887A03E12B445E96864A9F6B75BD0" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsTextBlock" xlink:label="loc_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventsAbstract_C97887A03E12B445E96864A9F6B75BD0" xlink:to="loc_us-gaap_SubsequentEventsTextBlock_30839575888493F361C364A9F6B7F7A8" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SubsequentEventsDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventsAbstract" xlink:label="loc_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTable" xlink:label="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventsAbstract_1139CB802F87BE4A80B07ED2BB721D51" xlink:to="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis_09FB5AF942C1FE2825857ED2BB728C1D" xlink:to="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_CapitolaMallMember" xlink:label="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsNameDomain_7997CBB37694B5BF68787ED2BB7230AE" xlink:to="loc_mac_CapitolaMallMember_4FA978FD5C2604D757F57ED2BB722160" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeAxis" xlink:label="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventTypeDomain" xlink:label="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTypeAxis_C70D85F680D571A3FF8A7ED2BB72B39F" xlink:to="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="loc_us-gaap_SubsequentEventMember_1001BE0E661526C108077ED2BB72152E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTypeDomain_4D42BADA8ED8D0EE70067ED2BB72F4D8" xlink:to="loc_us-gaap_SubsequentEventMember_1001BE0E661526C108077ED2BB72152E" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SubsequentEventLineItems" xlink:label="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventTable_7807DC42946B94AAC8597ED2BB72FD36" xlink:to="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AreaOfRealEstateProperty" xlink:label="loc_us-gaap_AreaOfRealEstateProperty_17F67FF42A109B9E61C17ED2BB77FDC5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_AreaOfRealEstateProperty_17F67FF42A109B9E61C17ED2BB77FDC5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ProceedsFromDivestitureOfBusinesses" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_387734CE039258FC430A7ED2BB78D355" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_ProceedsFromDivestitureOfBusinesses_387734CE039258FC430A7ED2BB78D355" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased" xlink:label="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_BDD2B323F17AC71BA6177ED2BB784FFD" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased_BDD2B323F17AC71BA6177ED2BB784FFD" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare" xlink:label="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_FD42ECBC28775BD8E6107ED2BB786795" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare_FD42ECBC28775BD8E6107ED2BB786795" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockDividendsPerShareDeclared" xlink:label="loc_us-gaap_CommonStockDividendsPerShareDeclared_B3310C4DFE04B2A52FB97ED2BB786A22" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_SubsequentEventLineItems_C2479FDC60FA7A15B2867ED2BB726BC7" xlink:to="loc_us-gaap_CommonStockDividendsPerShareDeclared_B3310C4DFE04B2A52FB97ED2BB786A22" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_87134AC81E240E17DA6F7769E63CE55E" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_87134AC81E240E17DA6F7769E63CE55E" xlink:to="loc_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock_DDEFF0241E57A59C4ACB7769E63CF6CE" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_B84D1EB53D63F2116ABA7E28B8C162C1" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTable" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_B84D1EB53D63F2116ABA7E28B8C162C1" xlink:to="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationAxis" xlink:label="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BalanceSheetLocationDomain" xlink:label="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationAxis_871800962E147F1D00E07E28B8C22E59" xlink:to="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_RealEstateInvestmentPropertyNetMember" xlink:label="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_mac_RealEstateInvestmentPropertyNetMember_A2191A451C7F8CB78C287E28B8C21580" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherAssetsMember" xlink:label="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_OtherAssetsMember_2B30201CCD21A6C31CE27E28B8C28456" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SecuredDebtMember" xlink:label="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_SecuredDebtMember_29AF5CC6F0172D1BB61D7E28B8C2D9A8" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherLiabilitiesMember" xlink:label="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_BalanceSheetLocationDomain_E07799760FF99088CCE37E28B8C2861D" xlink:to="loc_us-gaap_OtherLiabilitiesMember_2168D88A3F2665ABD9727E28B8C295C3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis" xlink:label="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ClassificationOfVariableInterestEntityDomain" xlink:label="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis_93F99995BC33766FE5667E28B8C27418" xlink:to="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityPrimaryBeneficiaryMember" xlink:label="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ClassificationOfVariableInterestEntityDomain_13ADA3C1BFCB47F15B957E28B8C2E4A3" xlink:to="loc_us-gaap_VariableInterestEntityPrimaryBeneficiaryMember_25E232E3704CD18DE2327E28B8C22E80" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityLineItems" xlink:label="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfVariableInterestEntitiesTable_F08CFE8339374DD509187E28B8C2DD1B" xlink:to="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets_3F938CEC4CAD070A3A4A7E28B8C239C1" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities" xlink:label="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_VariableInterestEntityLineItems_12131D5CC1E4400A45DC7E28B8C22274" xlink:to="loc_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities_8E50C5D53072BC9BA11C7E28B8C21C90" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:to="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_71F9EC67A1E659768BBDC685CE49528D" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EF59E6C9B8135D8581EDA60CA060E45C" xlink:to="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_509BEE7567365EF8BC36B39974D9DC5B" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_EBD27FB544F7DCB463557786079FD3E4" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfVariableInterestEntitiesTextBlock" xlink:label="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_EBD27FB544F7DCB463557786079FD3E4" xlink:to="loc_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock_F0E113515C16F945815A77BDA74BF82E" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNet" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureAbstract" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock" xlink:label="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_ABBEFDA8802D5E5C8C1EB26AFFC63064" xlink:to="loc_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_254DF180FB0D59D98A713E6B84092223" xlink:type="arc" />
  </presentationLink>
  <presentationLink xlink:role="http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails" xlink:type="extended">
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LoansAndLeasesReceivableDisclosureAbstract" xlink:label="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_A120AFCEF411CA3CADEE5F31112DAB87" xlink:type="locator" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable" xlink:label="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_LoansAndLeasesReceivableDisclosureAbstract_A120AFCEF411CA3CADEE5F31112DAB87" xlink:to="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis" xlink:label="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:to="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ReceivableTypeDomain" xlink:label="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis_A7281E909AC0532999405F31112D9BE0" xlink:to="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccruedIncomeReceivableMember" xlink:label="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:to="loc_us-gaap_AccruedIncomeReceivableMember_974CF5A3DF50115DC2D95F31112DB51F" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NoteReceivable1Member" xlink:label="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ReceivableTypeDomain_9E0C7D88EFA66F9EFAEE5F31112DD8EE" xlink:to="loc_mac_NoteReceivable1Member_0CB7B922AEC4AB4F04085F31112D93E4" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:label="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTable_3F634A6B5358DB9415015F31112D3313" xlink:to="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables" xlink:label="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="locator" />
    <presentationArc order="1" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables_736AE27F1559444E2FDD5F31112D80B5" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccountsReceivableGross" xlink:label="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="locator" />
    <presentationArc order="2" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_AccountsReceivableGross_923AF2CD197CC14D13B75F31112DA093" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DeferredRentReceivablesNet" xlink:label="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="locator" />
    <presentationArc order="3" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_DeferredRentReceivablesNet_22AC519642DE8238CF7A5F31112DF043" xlink:type="arc" />
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NotesReceivableGross" xlink:label="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="locator" />
    <presentationArc order="4" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_us-gaap_NotesReceivableGross_60F1AE528578109AABA15F31112ECE3D" xlink:type="arc" />
    <loc xlink:href="mac-20160331.xsd#mac_NotesReceivableInterestRate" xlink:label="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="locator" />
    <presentationArc order="5" preferredLabel="http://www.xbrl.org/2003/role/terseLabel" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_us-gaap_AccountsNotesAndLoansReceivableLineItems_FB4C6486C8CC53D25DA55F31112D51EB" xlink:to="loc_mac_NotesReceivableInterestRate_279FF4C8E12D939272FD5F31112E4E93" xlink:type="arc" />
  </presentationLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762220592">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document and Entity Information - shares<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>May. 05, 2016</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">MACERICH CO<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000912242<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar. 31,  2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--12-31<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Large Accelerated Filer<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">148,492,665<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2016<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CurrentFiscalYearEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CurrentFiscalYearEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gMonthDayItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalPeriodFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentFiscalYearFocus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalYearFocus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:gYearItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Document and Entity Information [Abstract]</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DocumentAndEntityInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762687312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>ASSETS:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Property, net</a></td>
<td class="nump">$ 7,526,652<span></span>
</td>
<td class="nump">$ 8,796,912<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">106,505<span></span>
</td>
<td class="nump">86,510<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue', window );">Restricted cash</a></td>
<td class="nump">42,233<span></span>
</td>
<td class="nump">41,389<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsAndNotesReceivableNet', window );">Tenant and other receivables, net</a></td>
<td class="nump">113,188<span></span>
</td>
<td class="nump">130,002<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsAndOtherAssets', window );">Deferred charges and other assets, net</a></td>
<td class="nump">505,164<span></span>
</td>
<td class="nump">564,291<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromAffiliates', window );">Due from affiliates</a></td>
<td class="nump">73,087<span></span>
</td>
<td class="nump">83,928<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Investments in unconsolidated joint ventures</a></td>
<td class="nump">1,844,516<span></span>
</td>
<td class="nump">1,532,552<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
<td class="nump">10,211,345<span></span>
</td>
<td class="nump">11,235,584<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_MortgageNotesPayableAbstract', window );"><strong>Mortgage notes payable:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Related parties</a></td>
<td class="nump">179,935<span></span>
</td>
<td class="nump">181,069<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Others</a></td>
<td class="nump">3,732,114<span></span>
</td>
<td class="nump">4,427,518<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SecuredDebt', window );">Total</a></td>
<td class="nump">3,912,049<span></span>
</td>
<td class="nump">4,608,587<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable', window );">Bank and other notes payable</a></td>
<td class="nump">746,919<span></span>
</td>
<td class="nump">652,163<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent', window );">Accounts payable and accrued expenses</a></td>
<td class="nump">64,549<span></span>
</td>
<td class="nump">74,398<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsPayableCurrentAndNoncurrent', window );">Accrued dividend</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">337,703<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent', window );">Other accrued liabilities</a></td>
<td class="nump">375,023<span></span>
</td>
<td class="nump">403,281<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_InvestmentsInUnconsolidatedJointVentures', window );">Distributions in excess of investments in unconsolidated joint ventures</a></td>
<td class="nump">20,995<span></span>
</td>
<td class="nump">24,457<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Co-venture obligation</a></td>
<td class="nump">61,940<span></span>
</td>
<td class="nump">63,756<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 5,181,475<span></span>
</td>
<td class="nump">$ 6,164,345<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value, 250,000,000 shares authorized, 149,455,915 and 154,404,986 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively</a></td>
<td class="nump">$ 1,495<span></span>
</td>
<td class="nump">$ 1,544<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">4,841,291<span></span>
</td>
<td class="nump">4,926,630<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(175,775)<span></span>
</td>
<td class="num">(212,760)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
<td class="nump">4,667,011<span></span>
</td>
<td class="nump">4,715,414<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterest', window );">Noncontrolling interests</a></td>
<td class="nump">362,859<span></span>
</td>
<td class="nump">355,825<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Total equity</a></td>
<td class="nump">5,029,870<span></span>
</td>
<td class="nump">5,071,239<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and equity</a></td>
<td class="nump">$ 10,211,345<span></span>
</td>
<td class="nump">$ 11,235,584<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Includes the current and noncurrent portions, carrying amount of debut identified as being convertible into another form of financial instrument, the carrying values of obligations drawn from a line of credit, and other notes payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ConvertibleDebtLineOfCreditAndOtherNotesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_InvestmentsInUnconsolidatedJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of liabilities resulting from investments in unconsolidated real estate and joint ventures not separately presented as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_InvestmentsInUnconsolidatedJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_MortgageNotesPayableAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>-- None. No documentation exists for this element. --</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_MortgageNotesPayableAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SecuredDebtNonrelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations such as mortgage loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SecuredDebtNonrelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsAndNotesReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date, net of allowance for doubtful accounts, of account and note receivables due from other than related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3-4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsAndNotesReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(1),(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate carrying amount of deferred costs and other assets not separately disclosed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredGainOnSaleOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on the sale of property that does not qualify for gain recognition as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 40<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.U.Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6955272&amp;loc=d3e221323-122791<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredGainOnSaleOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsPayableCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of dividends declared but unpaid on equity securities issued by the entity and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 15<br> -Subparagraph a<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsPayableCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromAffiliates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39599-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromAffiliates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 27<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAccruedLiabilitiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SecuredDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SecuredDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>15
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6929119648">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares<br></strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Statement of Financial Position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized (in shares)</a></td>
<td class="nump">250,000,000<span></span>
</td>
<td class="nump">250,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Common stock, shares issued (in shares)</a></td>
<td class="nump">149,455,915<span></span>
</td>
<td class="nump">154,404,986<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Common Stock, shares outstanding (in shares)</a></td>
<td class="nump">149,455,915<span></span>
</td>
<td class="nump">154,404,986<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfFinancialPositionAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762345792">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)<br> shares in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue', window );">Minimum rents</a></td>
<td class="nump">$ 151,048<span></span>
</td>
<td class="nump">$ 190,761<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PercentageRent', window );">Percentage rents</a></td>
<td class="nump">3,014<span></span>
</td>
<td class="nump">3,248<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TenantReimbursements', window );">Tenant recoveries</a></td>
<td class="nump">80,173<span></span>
</td>
<td class="nump">105,698<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherIncome', window );">Other</a></td>
<td class="nump">13,148<span></span>
</td>
<td class="nump">13,003<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ManagementFeesAndOtherRevenues', window );">Management Companies</a></td>
<td class="nump">8,617<span></span>
</td>
<td class="nump">5,625<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenues</a></td>
<td class="nump">256,000<span></span>
</td>
<td class="nump">318,335<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostOfRealEstateRevenue', window );">Shopping center and operating expenses</a></td>
<td class="nump">79,324<span></span>
</td>
<td class="nump">101,664<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OwnedPropertyManagementCosts', window );">Management Companies' operating expenses</a></td>
<td class="nump">27,900<span></span>
</td>
<td class="nump">26,468<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">REIT general and administrative expenses</a></td>
<td class="nump">8,629<span></span>
</td>
<td class="nump">8,422<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnsolicitedTenderOfferCosts', window );">Costs related to unsolicited takeover offer</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">13,572<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">86,931<span></span>
</td>
<td class="nump">120,618<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_CostsAndExpensesBeforeInterestTotal', window );">Total expenses before interest</a></td>
<td class="nump">202,784<span></span>
</td>
<td class="nump">270,744<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseAbstract', window );"><strong>Interest expense:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Related parties</a></td>
<td class="nump">2,272<span></span>
</td>
<td class="nump">2,729<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseOther', window );">Other</a></td>
<td class="nump">37,504<span></span>
</td>
<td class="nump">50,557<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Total interest expense</a></td>
<td class="nump">39,776<span></span>
</td>
<td class="nump">53,286<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties', window );">Loss (gain) on early extinguishment of debt, net</a></td>
<td class="nump">3,575<span></span>
</td>
<td class="num">(2,245)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total expenses</a></td>
<td class="nump">246,135<span></span>
</td>
<td class="nump">321,785<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity in income of unconsolidated joint ventures</a></td>
<td class="nump">11,660<span></span>
</td>
<td class="nump">8,274<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_IncomeLossFromCoventureOperations', window );">Co-venture expense</a></td>
<td class="num">(3,289)<span></span>
</td>
<td class="num">(2,130)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax (expense) benefit</a></td>
<td class="num">(1,317)<span></span>
</td>
<td class="nump">935<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GainLossonSaleorWriteDownofAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="nump">434,456<span></span>
</td>
<td class="nump">935<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss', window );">Gain on remeasurement of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">22,103<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">451,375<span></span>
</td>
<td class="nump">26,667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Less net income attributable to noncontrolling interests</a></td>
<td class="nump">30,460<span></span>
</td>
<td class="nump">2,056<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income attributable to the Company</a></td>
<td class="nump">$ 420,915<span></span>
</td>
<td class="nump">$ 24,611<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>Earnings per common share&#8212;net income attributable to common stockholders:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in dollars per share)</a></td>
<td class="nump">$ 2.77<span></span>
</td>
<td class="nump">$ 0.15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in dollars per share)</a></td>
<td class="nump">$ 2.76<span></span>
</td>
<td class="nump">$ 0.15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average number of common shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in shares)</a></td>
<td class="nump">151,984<span></span>
</td>
<td class="nump">158,336<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in shares)</a></td>
<td class="nump">152,103<span></span>
</td>
<td class="nump">158,544<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_CostsAndExpensesBeforeInterestTotal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of all costs of sales and operating expenses, excluding interest expense, for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_CostsAndExpensesBeforeInterestTotal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GainLossonSaleorWriteDownofAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) on Sale or Write Down of Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GainLossonSaleorWriteDownofAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GainsLossesonExtinguishmentofDebtIncludingPenalties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gains (Losses) on Extinguishment of Debt, Including Penalties</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GainsLossesonExtinguishmentofDebtIncludingPenalties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_IncomeLossFromCoventureOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income or loss related to its profit-sharing arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_IncomeLossFromCoventureOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ManagementFeesAndOtherRevenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue, comprised of base and incentive revenue, from developing, operating and managing another entity's business during the reporting period; plus revenues not otherwise specified.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ManagementFeesAndOtherRevenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination achieved in stages, this element represents the amount of net gain (loss) recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostOfRealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the total of the costs related to real estate revenues, including management, leasing, and development services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostOfRealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 9<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest expense on all other items not previously classified. For example, includes dividends associated with redeemable preferred stock of a subsidiary that is treated as a liability in the parent's consolidated balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 815<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4D<br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624177-113959<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph -4<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39896-112707<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesIncomeStatementMinimumLeaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OwnedPropertyManagementCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate costs related to management of owned properties during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.2(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OwnedPropertyManagementCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PercentageRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount. Such rental revenue is generally stipulated in the lease agreement, usually will provide for a fixed percentage of revenue to be paid as additional (or possibly only) rent due the lessor, and may be based on gross revenues, net revenues, or multiple variations thereof. Percentage rent is often required under leases with retail outlets located on premises owned by hoteliers, cruise lines, others in the hospitality industry, and shopping mall operators, among others.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PercentageRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TenantReimbursements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TenantReimbursements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnsolicitedTenderOfferCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Costs incurred in connection with an unsolicited tender offer (one where the Entity being sought has not requested the offer). These would include costs relating to evaluation and dissemination of information regarding an unsolicited tender offer. A tender offer is a broad solicitation by an Entity or a third party to purchase a substantial percentage of another entity's shares or units for a limited period of time. The offer is at a fixed price, usually at a premium over the current market price, and is contingent on shareholders' tendering a fixed number of their shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnsolicitedTenderOfferCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>17
<FILENAME>R5.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762667216">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENT OF EQUITY - 3 months ended Mar. 31, 2016 - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Total</div></th>
<th class="th"><div>Total Stockholders' Equity</div></th>
<th class="th"><div>Common Stock</div></th>
<th class="th"><div>Additional Paid-in Capital</div></th>
<th class="th"><div>Accumulated Deficit</div></th>
<th class="th"><div>Noncontrolling Interests</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Balance (in shares) at Dec. 31, 2015</a></td>
<td class="nump">154,404,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">154,404,986<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Dec. 31, 2015</a></td>
<td class="nump">$ 5,071,239<span></span>
</td>
<td class="nump">$ 4,715,414<span></span>
</td>
<td class="nump">$ 1,544<span></span>
</td>
<td class="nump">$ 4,926,630<span></span>
</td>
<td class="num">$ (212,760)<span></span>
</td>
<td class="nump">$ 355,825<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward', window );"><strong>Increase (Decrease) in Stockholders' Equity</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">451,375<span></span>
</td>
<td class="nump">420,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">420,915<span></span>
</td>
<td class="nump">30,460<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation', window );">Amortization of share and unit-based plans (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">86,204<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation', window );">Amortization of share and unit-based plans</a></td>
<td class="nump">21,399<span></span>
</td>
<td class="nump">21,399<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="nump">21,398<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodShares', window );">Stock repurchases (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5,192,802)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchasedDuringPeriodValue', window );">Stock repurchases</a></td>
<td class="num">(400,018)<span></span>
</td>
<td class="num">(400,018)<span></span>
</td>
<td class="num">$ (52)<span></span>
</td>
<td class="num">(120,411)<span></span>
</td>
<td class="num">(279,555)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DividendsCommonStockCash', window );">Distributions declared ($0.68) per share</a></td>
<td class="num">(104,375)<span></span>
</td>
<td class="num">(104,375)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(104,375)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders', window );">Distributions to noncontrolling interests</a></td>
<td class="num">(9,720)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(9,720)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits', window );">Conversion of noncontrolling interests to common shares (in shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">157,527<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits', window );">Conversion of noncontrolling interests to common shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,108<span></span>
</td>
<td class="nump">$ 2<span></span>
</td>
<td class="nump">3,106<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,108)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestDecreaseFromRedemptions', window );">Redemption of noncontrolling interests</a></td>
<td class="num">$ (30)<span></span>
</td>
<td class="num">(23)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(23)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(7)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance', window );">Adjustment of noncontrolling interests in Operating Partnership</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(10,591)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Balance (in shares) at Mar. 31, 2016</a></td>
<td class="nump">149,455,915<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">149,455,915.000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest', window );">Balance at Mar. 31, 2016</a></td>
<td class="nump">$ 5,029,870<span></span>
</td>
<td class="nump">$ 4,667,011<span></span>
</td>
<td class="nump">$ 1,495<span></span>
</td>
<td class="nump">$ 4,841,291<span></span>
</td>
<td class="num">$ (175,775)<span></span>
</td>
<td class="nump">$ 362,859<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DividendsCommonStockCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid common stock dividends declared with the form of settlement in cash.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DividendsCommonStockCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInStockholdersEquityRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDecreaseFromRedemptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Decrease in noncontrolling interest (for example, but not limited to, redeeming or purchasing the interests of noncontrolling shareholders, issuance of shares (interests) by the non-wholly owned subsidiary to the parent entity for other than cash, and a buyback of shares (interest) by the non-wholly owned subsidiary from the noncontrolling interests).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569655-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4616395-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDecreaseFromRedemptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase in noncontrolling interest from subsidiary issuance of equity interests to noncontrolling interest holders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (c)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 23<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569655-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueConversionOfUnits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodShares">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodShares</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchasedDuringPeriodValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30, 31<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchasedDuringPeriodValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4I<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4590271-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568740-111683<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4568447-111683<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_ParentMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_ParentMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_AdditionalPaidInCapitalMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_RetainedEarningsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_NoncontrollingInterestMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>R6.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928780976">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Mar. 31, 2016 </div>
<div>$ / shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfStockholdersEquityAbstract', window );"><strong>Statement of Stockholders' Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareCashPaid', window );">Distributions paid, per share (in dollars per share)</a></td>
<td class="nump">$ 0.68<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareCashPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends paid during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareCashPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementOfStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>19
<FILENAME>R7.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762850960">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 451,375<span></span>
</td>
<td class="nump">$ 26,667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on early extinguishment of debt, net</a></td>
<td class="num">(8,453)<span></span>
</td>
<td class="num">(2,245)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GainLossonSaleorWriteDownofAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="num">(434,456)<span></span>
</td>
<td class="num">(935)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset', window );">Gain on remeasurement of assets</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(22,103)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationDepletionAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">88,176<span></span>
</td>
<td class="nump">122,418<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfDebtDiscountPremium', window );">Amortization of net premium on mortgage notes payable</a></td>
<td class="num">(1,050)<span></span>
</td>
<td class="num">(6,903)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Amortization of share and unit-based plans</a></td>
<td class="nump">16,440<span></span>
</td>
<td class="nump">14,468<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StraightLineRentAdjustments', window );">Straight-line rent adjustment</a></td>
<td class="num">(910)<span></span>
</td>
<td class="num">(386)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfAboveAndBelowMarketLeases', window );">Amortization of above and below-market leases</a></td>
<td class="num">(1,643)<span></span>
</td>
<td class="num">(4,666)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Provision for doubtful accounts</a></td>
<td class="nump">919<span></span>
</td>
<td class="nump">1,330<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense (benefit)</a></td>
<td class="nump">1,317<span></span>
</td>
<td class="num">(935)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Equity in income of unconsolidated joint ventures</a></td>
<td class="num">(11,660)<span></span>
</td>
<td class="num">(8,274)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions', window );">Distributions of income from unconsolidated joint ventures</a></td>
<td class="nump">2,035<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_IncomeLossFromCoventureOperations', window );">Co-venture expense</a></td>
<td class="nump">3,289<span></span>
</td>
<td class="nump">2,130<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in assets and liabilities, net of acquisitions and dispositions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Tenant and other receivables</a></td>
<td class="nump">4,686<span></span>
</td>
<td class="nump">17,836<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets', window );">Other assets</a></td>
<td class="num">(9,743)<span></span>
</td>
<td class="nump">4,310<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseDueFromAffiliates', window );">Due from affiliates</a></td>
<td class="nump">11,123<span></span>
</td>
<td class="nump">650<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
<td class="num">(6,166)<span></span>
</td>
<td class="nump">18,318<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities', window );">Other accrued liabilities</a></td>
<td class="nump">2,562<span></span>
</td>
<td class="nump">450<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">107,841<span></span>
</td>
<td class="nump">162,130<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireRealEstate', window );">Acquisitions of property</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(26,250)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireAndDevelopRealEstate', window );">Development, redevelopment, expansion and renovation of properties</a></td>
<td class="num">(60,895)<span></span>
</td>
<td class="num">(90,157)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToDevelopRealEstateAssets', window );">Property improvements</a></td>
<td class="num">(5,311)<span></span>
</td>
<td class="num">(3,855)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromCollectionOfNotesReceivable', window );">Proceeds from notes receivable</a></td>
<td class="nump">932<span></span>
</td>
<td class="nump">452<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredLeasingFees', window );">Deferred leasing costs</a></td>
<td class="num">(7,359)<span></span>
</td>
<td class="num">(9,768)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther', window );">Distributions from unconsolidated joint ventures</a></td>
<td class="nump">181,900<span></span>
</td>
<td class="nump">13,096<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireInterestInJointVenture', window );">Contributions to unconsolidated joint ventures</a></td>
<td class="num">(350,668)<span></span>
</td>
<td class="num">(33,284)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet', window );">Proceeds from sale of assets</a></td>
<td class="nump">600,665<span></span>
</td>
<td class="nump">1,440<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRestrictedCash', window );">Restricted cash</a></td>
<td class="num">(849)<span></span>
</td>
<td class="num">(1,694)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by (used in) investing activities</a></td>
<td class="nump">358,415<span></span>
</td>
<td class="num">(150,020)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet', window );">Proceeds from mortgages, bank and other notes payable</a></td>
<td class="nump">2,126,138<span></span>
</td>
<td class="nump">815,671<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities', window );">Payments on mortgages, bank and other notes payable</a></td>
<td class="num">(1,713,094)<span></span>
</td>
<td class="num">(674,569)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfFinancingCosts', window );">Deferred financing costs</a></td>
<td class="num">(1,927)<span></span>
</td>
<td class="num">(3,476)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfStockIssuanceCosts', window );">Payment of stock issuance costs</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(304)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfCommonStock', window );">Stock repurchases</a></td>
<td class="num">(400,018)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToMinorityShareholders', window );">Redemption of noncontrolling interests</a></td>
<td class="num">(30)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividendsCommonStock', window );">Dividends and distributions</a></td>
<td class="num">(452,225)<span></span>
</td>
<td class="num">(111,462)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DistributionsToCoVenturePartner', window );">Distributions to co-venture partner</a></td>
<td class="num">(5,105)<span></span>
</td>
<td class="num">(4,716)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in) provided by financing activities</a></td>
<td class="num">(446,261)<span></span>
</td>
<td class="nump">21,144<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase in cash and cash equivalents</a></td>
<td class="nump">19,995<span></span>
</td>
<td class="nump">33,254<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, beginning of period</a></td>
<td class="nump">86,510<span></span>
</td>
<td class="nump">84,907<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents, end of period</a></td>
<td class="nump">106,505<span></span>
</td>
<td class="nump">118,161<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental cash flow information:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash payments for interest, net of amounts capitalized</a></td>
<td class="nump">32,073<span></span>
</td>
<td class="nump">60,102<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Non-cash investing and financing transactions:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid', window );">Accrued development costs included in accounts payable and accrued expenses and other accrued liabilities</a></td>
<td class="nump">22,887<span></span>
</td>
<td class="nump">31,823<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesAssumed1', window );">Mortgage notes payable assumed in exchange for investments in unconsolidated joint ventures</a></td>
<td class="nump">997,695<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAssumed1', window );">Assumption of mortgage note payable from unconsolidated joint venture</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture', window );">Acquisition of property in exchange for investment in unconsolidated joint venture</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">76,250<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConversionOfStockAmountConverted1', window );">Conversion of Operating Partnership Units to common stock</a></td>
<td class="nump">$ 3,108<span></span>
</td>
<td class="nump">$ 1,553<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash inflows from unconsolidated entities and other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DistributionsOfCapitalFromUnconsolidatedEntitiesAndOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DistributionsToCoVenturePartner">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the distributions to co - venture partner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DistributionsToCoVenturePartner</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GainLossonSaleorWriteDownofAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) on Sale or Write Down of Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GainLossonSaleorWriteDownofAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_IncomeLossFromCoventureOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income or loss related to its profit-sharing arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_IncomeLossFromCoventureOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Non Cash or Part Noncash Acquisition, Investment in Unconsolidated Joint Venture</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NonCashorPartNoncashAcquisitionInvestmentinUnconsolidatedJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash inflows from the sale of partnership interests, other assets, and discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ProceedsFromSaleOfPartnershipInterestsOtherAssetsAndDiscontinuedOperationsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfAboveAndBelowMarketLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of non-cash amortization of intangible asset (liability) for above and below market leases.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfAboveAndBelowMarketLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfDebtDiscountPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfDebtDiscountPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Future cash outflow to pay for construction in progress expenditures that have occurred.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConversionOfStockAmountConverted1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The value of the stock converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConversionOfStockAmountConverted1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationDepletionAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationDepletionAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentDividendsOrDistributions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 13<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentDividendsOrDistributions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 9<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseDueFromAffiliates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in receivables to be collected from an entity that is controlling, under the control of, or within the same control group as the reporting entity by means of direct or indirect ownership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseDueFromAffiliates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredLeasingFees">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the book value of deferred leasing fees. Amortization of these fees over the terms of the leases reduces deferred leasing fees. Originating new leases increases the balance of deferred leasing fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDeferredLeasingFees</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherOperatingAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOtherOperatingAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInRestrictedCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInRestrictedCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of cash paid for interest during the period net of cash paid for interest that is capitalized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of liabilities assumed in noncash investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain (loss) from remeasurement of an asset to reflect the change in value under liquidation basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 30<br> -Section 35<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35686333&amp;loc=SL35686336-199416<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiquidationBasisOfAccountingRemeasurementGainLossOnAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The fair value of notes assumed in noncash investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfDividendsCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfDividendsCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfFinancingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for loan and debt issuance costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfFinancingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsOfStockIssuanceCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for cost incurred directly with the issuance of an equity security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsOfStockIssuanceCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireAndDevelopRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from the acquisition of a piece of land and anything permanently fixed to it, including buildings, structures on it and so forth, and payments to develop real estate assets by adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements. Including real estate intended to generate income for the owner; excluding real estate acquired for use by the owner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireAndDevelopRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireInterestInJointVenture">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the investment in or advances to an entity in which the reporting entity shares control of the entity with another party or group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireInterestInJointVenture</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireRealEstate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireRealEstate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToDevelopRealEstateAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Payments to develop real estate assets is the process of adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements; and are generally classified as cash flow from investing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToDevelopRealEstateAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToMinorityShareholders">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash outflow to a noncontrolling interest. Includes, but not limited to, reduction of noncontrolling interest ownership. Excludes dividends paid to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToMinorityShareholders</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromCollectionOfNotesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with principal collections from a borrowing supported by a written promise to pay an obligation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromCollectionOfNotesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with security instrument that either represents a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer. Includes proceeds from (a) debt, (b) capital lease obligations, (c) mandatory redeemable capital securities, and (d) any combination of (a), (b), or (c).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.5)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with security instruments that either represent a creditor or an ownership relationship with the holder of the investment security with a maturity of beyond one year or normal operating cycle, if longer.  Includes repayments of (a) debt, (b) capital lease obligations, (c) mandatory redeemable capital securities, and (d) any combination of (a), (b), or (c).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfLongTermDebtAndCapitalSecurities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StraightLineRentAdjustments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the adjustment to rental revenues to measure escalating leasing revenues on a straight line basis.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StraightLineRentAdjustments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SupplementalCashFlowInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SupplementalCashFlowInformationAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>20
<FILENAME>R8.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6581785104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract', window );"><strong>Organization, Consolidation and Presentation of Financial Statements [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">Organization:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">Organization</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Macerich Company (the "Company") is involved in the acquisition, ownership, development, redevelopment, management and leasing of regional and community/power shopping centers (the "Centers") located throughout the United States.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company commenced operations effective with the completion of its initial public offering on March&#160;16, 1994. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was the sole general partner of and held a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">93%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in The Macerich Partnership,&#160;L.P. (the "Operating Partnership"). The Company was organized to qualify as a real estate investment trust ("REIT") under the Internal Revenue Code of 1986, as amended (the "Code").</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The property management, leasing and redevelopment of the Company's portfolio is provided by the Company's management companies, Macerich Property Management Company,&#160;LLC, a single member Delaware limited liability company, Macerich Management Company, a California corporation, Macerich Arizona Partners&#160;LLC, a single member Arizona limited liability company, Macerich Arizona Management&#160;LLC, a single member Delaware limited liability company, Macerich Partners of Colorado, LLC, a single member Colorado limited liability company, MACW Mall Management,&#160;Inc., a New York corporation, and MACW Property Management,&#160;LLC, a single member New York limited liability company. All </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">seven</font><font style="font-family:inherit;font-size:10pt;"> of the management companies are collectively referred to herein as the "Management Companies."</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All references to the Company in this Quarterly Report on Form&#160;10-Q include the Company, those entities owned or controlled by the Company and predecessors of the Company, unless the context indicates otherwise.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NatureOfOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=d3e6003-108592<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2A<br> -URI http://asc.fasb.org/extlink&amp;oid=51801978&amp;loc=SL51803626-108592<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NatureOfOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>21
<FILENAME>R9.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928758656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Summary of Significant Accounting Policies:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form&#160;10-Q and Article&#160;10 of Regulation&#160;S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 1, 2016, the Company adopted Accounting Standards Update (&#8220;ASU&#8221;) 2015-02,&#160;&#8220;Consolidation (Topic 810): Amendments to the Consolidation Analysis,&#8221; which made certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity ("VIE") characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. The Company evaluated the new standard and determined that no change was required to its accounting for variable interest entities.  However, under the guidance of the new standard, all of the Company's consolidated joint ventures, including the Operating Partnership, now meet the definition and criteria as VIEs and the Company is the primary beneficiary of each VIE.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership.  In addition the Operating Partnership has investments in a number of VIEs.  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The VIEs included the following assets and liabilities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:480px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:69px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:70px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">360,666</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,129</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,202</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,075</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,868</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,204</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138,130</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,767</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81,932</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">79,984</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,062</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">219,751</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form&#160;10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> has been derived from the audited financial statements but does not include all disclosures required by GAAP.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Pronouncements:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued ASU 2014-09,&#160;&#8220;Revenue From Contracts With Customers,&#8221;&#160;which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 states that &#8220;an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&#8221; While ASU 2014-09 specifically references contracts with customers, it may apply to certain other transactions such as the sale of real estate or equipment. In July 2015, the FASB voted to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning January 1, 2018, with early adoption permitted beginning January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;In April 2015, the FASB issued ASU 2015-03,&#160;&#8220;Simplifying the Presentation of Debt Issuance Costs,&#8221; which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The Company's adoption of ASU 2015-03 on January 1, 2016 resulted in an adjustment of its consolidated balance sheet at December 31, 2015 to reflect the new presentation required by the standard. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which requires adjustments to provisional amounts used in business combinations during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. It also requires the disclosure of the impact on changes in estimates on earnings, depreciation, amortization and other income effects. The Company's adoption of this standard on January 1, 2016 did not have an impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not initial direct leasing costs. ASU 2016-02 is effective for the Company beginning January 1, 2019. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718)," which amends the accounting for share-based payments, including the income tax consequences, classification of awards and classification on the statement of cash flows. ASU 2016-09 is effective for the Company beginning January 1, 2017. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).  Accounting policies describe all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>22
<FILENAME>R10.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752979616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share ("EPS"):<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareTextBlock', window );">Earnings per Share ("EPS"):</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per Share ("EPS"):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table reconciles the numerator and denominator used in the computation of earnings per share for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;"> (shares in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:548px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:416px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:53px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Numerator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">451,375</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,667</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(30,460</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to the Company</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,915</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,611</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allocation of earnings to participating securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(420</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(148</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Numerator for basic and diluted earnings per share&#8212;net income attributable to common stockholders</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,495</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,463</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Denominator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for basic earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151,984</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,336</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Effect of dilutive securities:(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share and unit-based compensation plans</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">119</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for diluted earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">152,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,544</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per common share&#8212;net income attributable to common stockholders:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basic</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.77</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Diluted</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.76</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">138,759</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">140,490</font><font style="font-family:inherit;font-size:9pt;"> convertible preferred units for the </font><font style="font-family:inherit;font-size:9pt;">three months ended</font><font style="font-family:inherit;font-size:9pt;"> </font><font style="font-family:inherit;font-size:9pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:9pt;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;">10,820,343</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">10,516,523</font><font style="font-family:inherit;font-size:9pt;"> Operating Partnership units ("OP Units") for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1278-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>23
<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928751984">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock', window );">Investments in Unconsolidated Joint Ventures:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Investments in Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made the following recent investments and dispositions in its unconsolidated joint ventures:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company acquired the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">867,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">San Bernardino</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, that it did not previously own for </font><font style="font-family:inherit;font-size:10pt;">$51,250</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$26,250</font><font style="font-family:inherit;font-size:10pt;"> and the assumption of the third party's share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$25,000</font><font style="font-family:inherit;font-size:10pt;">. Concurrent with the purchase of the joint venture interest, the Company paid off the </font><font style="font-family:inherit;font-size:10pt;">$50,000</font><font style="font-family:inherit;font-size:10pt;"> mortgage note payable on the property. The cash payment was funded by borrowings under the Company's line of credit. Prior to the acquisition, the Company had accounted for its investment in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;"> under the equity method of accounting. Since the date of acquisition, the Company has included </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;"> in its consolidated financial statements (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">13</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Acquisitions</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into a 50/50 joint venture with Sears to own </font><font style="font-family:inherit;font-size:10pt;">nine</font><font style="font-family:inherit;font-size:10pt;"> freestanding stores located at </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Chandler Fashion Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Danbury Fair Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Freehold Raceway Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Vintage Faire Mall</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">. The Company invested </font><font style="font-family:inherit;font-size:10pt;">$150,000</font><font style="font-family:inherit;font-size:10pt;"> for a </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> ownerhsip interest in the joint venture, which was funded by borrowings under the Company's line of credit.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> (the "PPR Portfolio"), which owns </font><font style="font-family:inherit;font-size:10pt;">Lakewood Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">2,075,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Lakewood</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">Los Cerritos Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,296,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Cerritos</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">South Plains Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,127,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Lubbock</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Texas</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Washington Square</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,442,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Portland</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Oregon</font><font style="font-family:inherit;font-size:10pt;">, for a total sales price of </font><font style="font-family:inherit;font-size:10pt;">$1,258,643</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$311,194</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$545,643</font><font style="font-family:inherit;font-size:10pt;"> and the assumption of a pro rata share of the mortgage notes payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$713,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sales to pay down its line of credit and for general corporate purposes, which included funding the ASR and Special Dividend (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:10pt;">,  the Company sold a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,197,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Glendale</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$289,496</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$104,293</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$129,496</font><font style="font-family:inherit;font-size:10pt;"> and the assumption of a pro rata share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$160,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes, which included funding the Special Dividend (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company formed a joint venture, whereby the Company sold a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Deptford Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,040,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Deptford</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New Jersey</font><font style="font-family:inherit;font-size:10pt;">; </font><font style="font-family:inherit;font-size:10pt;">FlatIron Crossing</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,432,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Broomfield</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;">; and </font><font style="font-family:inherit;font-size:10pt;">Twenty Ninth Street</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">852,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Boulder</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Colorado</font><font style="font-family:inherit;font-size:10pt;"> (the "</font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;">"), for </font><font style="font-family:inherit;font-size:10pt;">$771,478</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$340,741</font><font style="font-family:inherit;font-size:10pt;">. The sales price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$478,608</font><font style="font-family:inherit;font-size:10pt;"> and the assumption of a pro rata share of the mortgage note payable on the properties of </font><font style="font-family:inherit;font-size:10pt;">$292,870</font><font style="font-family:inherit;font-size:10pt;">. The Company used the cash proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company, through a 50/50 joint venture, acquired </font><font style="font-family:inherit;font-size:10pt;">Country Club Plaza</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">1,300,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Kansas City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Missouri</font><font style="font-family:inherit;font-size:10pt;"> for a total purchase price of </font><font style="font-family:inherit;font-size:10pt;">$660,000</font><font style="font-family:inherit;font-size:10pt;">. The Company funded its pro rata share of the purchase price of </font><font style="font-family:inherit;font-size:10pt;">$330,000</font><font style="font-family:inherit;font-size:10pt;"> with borrowings under its line of credit. On </font><font style="font-family:inherit;font-size:10pt;">March&#160;28, 2016</font><font style="font-family:inherit;font-size:10pt;">, the joint venture placed a </font><font style="font-family:inherit;font-size:10pt;">$320,000</font><font style="font-family:inherit;font-size:10pt;"> loan on the property that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">3.88%</font><font style="font-family:inherit;font-size:10pt;"> and matures on </font><font style="font-family:inherit;font-size:10pt;">April&#160;1, 2026</font><font style="font-family:inherit;font-size:10pt;">. The Company used its pro rata share of the proceeds to pay down its line of credit.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Combined and condensed balance sheets and statements of operations are presented below for all unconsolidated joint ventures.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:504px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,246,945</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,334,442</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">621,668</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">507,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities and partners' capital(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage and other notes payable(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,926,654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,607,588</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">442,846</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">355,634</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Outside partners' capital</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,063,630</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,293,142</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities and partners' capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments in unconsolidated joint ventures:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basis adjustment(3)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(611,962</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(77,701</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets&#8212;Investments in unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,844,516</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,532,552</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities&#8212;Distributions in excess of investments in unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(20,995</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,457</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts include the assets of </font><font style="font-family:inherit;font-size:10pt;">$3,258,293</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3,283,702</font><font style="font-family:inherit;font-size:10pt;"> of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and liabilities of </font><font style="font-family:inherit;font-size:10pt;">$1,919,760</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1,938,241</font><font style="font-family:inherit;font-size:10pt;"> of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$5,000</font><font style="font-family:inherit;font-size:10pt;"> could become recourse debt to the Company. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company had an indemnity agreement from a joint venture partner for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,500</font><font style="font-family:inherit;font-size:10pt;"> of the guaranteed amount.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$458,843</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$460,872</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates&#8212;Broadway Plaza. Interest expense on these borrowings was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6,366</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,508</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4,457</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$420</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:593px;border-collapse:collapse;text-align:left;"><tr><td colspan="13" rowspan="1"></td></tr><tr><td style="width:320px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Pacific</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Premier</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Retail&#160;LLC (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Joint</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2016</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,583</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,373</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">136,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">759</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,753</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,512</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,976</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,443</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,838</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,352</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,190</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,156</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,921</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208,077</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,298</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63,084</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,214</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27,738</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,084</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,533</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">84,617</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,084</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">137,569</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">190,653</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss on sale or write down of assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,928</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,419</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,244</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,904</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,660</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2015</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">_______________________________________________________________________________</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:42px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts exclude the results of operations from January 1, 2015 to March 31, 2015, as </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> was wholly-owned during that period. On October 30, 2015, as a result of the PPR Portfolio transaction discussed above, </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> was converted from wholly-owned to an unconsolidated joint venture.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Significant accounting policies used by the unconsolidated joint ventures are similar to those used by the Company.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 35<br> -Paragraph 35<br> -URI http://asc.fasb.org/extlink&amp;oid=49116238&amp;loc=d3e32847-111569<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 35<br> -Paragraph 32<br> -URI http://asc.fasb.org/extlink&amp;oid=49116238&amp;loc=d3e32787-111569<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>24
<FILENAME>R12.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6753040896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, net:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">Property, net:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Property, net:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, net consists of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:588px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:410px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,658,466</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,894,717</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,595,692</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,752,892</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant improvements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">573,863</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">637,355</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equipment and furnishings</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,891</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">169,841</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Construction in progress</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">264,431</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">234,851</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,254,343</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,689,656</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,727,691</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,892,744</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,526,652</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,796,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation expense was </font><font style="font-family:inherit;font-size:10pt;">$69,903</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$90,197</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The gain on sale or write down of assets, net for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> includes a gain of </font><font style="font-family:inherit;font-size:10pt;">$104,293</font><font style="font-family:inherit;font-size:10pt;"> on the sale of a </font><font style="font-family:inherit;font-size:10pt;">40%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">), </font><font style="font-family:inherit;font-size:10pt;">$340,741</font><font style="font-family:inherit;font-size:10pt;"> on the sale of a </font><font style="font-family:inherit;font-size:10pt;">49%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:10pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">) and a gain of </font><font style="font-family:inherit;font-size:10pt;">$2,412</font><font style="font-family:inherit;font-size:10pt;"> on the sale of land offset in part by a </font><font style="font-family:inherit;font-size:10pt;">$12,294</font><font style="font-family:inherit;font-size:10pt;"> adjustment to contingent consideration (See Note 13&#8212;Acquisitions) and </font><font style="font-family:inherit;font-size:10pt;">$696</font><font style="font-family:inherit;font-size:10pt;"> on the write-off of development costs. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The gain on sale or write down of assets, net for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> includes a gain of </font><font style="font-family:inherit;font-size:10pt;">$1,056</font><font style="font-family:inherit;font-size:10pt;"> on the sale of land offset in part by a loss of </font><font style="font-family:inherit;font-size:10pt;">$121</font><font style="font-family:inherit;font-size:10pt;"> on the sale of assets.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13-14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2921-110230<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>25
<FILENAME>R13.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752993520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Tenant and Other Receivables, net:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansAndLeasesReceivableDisclosureAbstract', window );"><strong>Loans and Leases Receivable Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock', window );">Tenant and Other Receivables, net:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Tenant and Other Receivables, net:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in tenant and other receivables, net is an allowance for doubtful accounts of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,684</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3,072</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Also included in tenant and other receivables, net are accrued percentage rents of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,157</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$10,940</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and a deferred rent receivable due to straight-line rent adjustments of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$54,079</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$60,790</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;17, 2014</font><font style="font-family:inherit;font-size:10pt;">, in connection with the sale of </font><font style="font-family:inherit;font-size:10pt;">Lake Square Mall</font><font style="font-family:inherit;font-size:10pt;">, the Company issued a note receivable for </font><font style="font-family:inherit;font-size:10pt;">$6,500</font><font style="font-family:inherit;font-size:10pt;"> that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:10pt;">6.5%</font><font style="font-family:inherit;font-size:10pt;">, matures on </font><font style="font-family:inherit;font-size:10pt;">March&#160;17, 2018</font><font style="font-family:inherit;font-size:10pt;"> and is collateralized by a trust deed on </font><font style="font-family:inherit;font-size:10pt;">Lake Square Mall</font><font style="font-family:inherit;font-size:10pt;">. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the note had a balance of </font><font style="font-family:inherit;font-size:10pt;">$6,331</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6,351</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansAndLeasesReceivableDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansAndLeasesReceivableDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5066-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.3,4)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5162-111524<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 7<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>26
<FILENAME>R14.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752994896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deferred Charges and Other Assets, net:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsDisclosureTextBlock', window );">Deferred Charges and Other Assets, net:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Deferred Charges and Other Assets, net:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges and other assets, net consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:412px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">224,302</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">248,709</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease values</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">159,057</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,969</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing commissions and legal costs</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,556</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Above-market leases</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,591</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,847</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred compensation plan assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,818</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,341</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,363</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,070</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">760,420</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">864,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization(1)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(255,256</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(300,492</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">505,164</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">564,291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accumulated amortization includes </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$84,501</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$109,453</font><font style="font-family:inherit;font-size:9pt;"> relating to in-place lease values, leasing commissions and legal costs at </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:9pt;">, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was </font><font style="font-family:inherit;font-size:9pt;">$8,847</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">$21,678</font><font style="font-family:inherit;font-size:9pt;"> for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:9pt;"> </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allocated values of above-market leases and below-market leases consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:412px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Above-Market Leases</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(70,277</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(73,520</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140,456</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">147,327</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Below-Market Leases(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">202,454</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">227,063</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(91,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(101,872</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">110,736</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125,191</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Below-market leases are included in other accrued liabilities.</font></div></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R15.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752998480">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Mortgage Notes Payable:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MortgageNotesPayableDisclosureTextBlock', window );">Mortgage Notes Payable:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Mortgage Notes Payable:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:614px;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:189px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:52px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Amount of Mortgage Notes(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Effective Interest</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Rate(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Monthly</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Debt</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Service(3)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maturity</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Date(4)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center(5)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">221,194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Chandler Fashion Center(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,784</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,766</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.77</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">625</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Danbury Fair Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,078</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,079</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5.53</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,538</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(7)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">193,337</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(8)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,999</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Chicago</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,688</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,653</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.10</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">323</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,903</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,708</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.89</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">727</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Flagstaff Mall(9)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8.97</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">153</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2015</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FlatIron Crossing(7)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">254,075</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Freehold Raceway Mall(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,805</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,836</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.20</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Green Acres Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">302,428</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">303,960</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,447</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Kings Plaza Shopping Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">463,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">466,266</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.67</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,229</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Northgate Mall(10)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,777</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">143</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Oaks, The</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">204,492</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">205,555</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,064</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Pacific View</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,108</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.08</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">668</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Queens Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.49</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,744</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2025</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Santa Monica Place</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,509</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,815</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.99</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,004</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">SanTan Village Regional Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,911</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,638</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">589</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">104,023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">105,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.80</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">640</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center(11)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,674</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,749</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.26</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">154</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2016</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Towne Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,860</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.48</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Tucson La Encantada</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,628</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,991</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.23</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">368</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Victor Valley, Mall of</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,515</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,500</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">380</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2024</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vintage Faire Mall</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">273,125</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">274,417</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.55</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,255</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2026</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Westside Pavilion</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">145,942</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">146,630</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.49</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">179,935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,732,114</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">181,069</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,427,518</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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:</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:298px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,254</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,467</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,168</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">263</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,905</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18,408</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:60px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The mortgage notes payable balances also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.  Unamortized deferred finance costs were </font><font style="font-family:inherit;font-size:8pt;">$13,182</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">$16,025</font><font style="font-family:inherit;font-size:8pt;"> at </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The monthly debt service represents the payment of principal and interest.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(4)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(5)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company replaced the existing loan on the property with a new </font><font style="font-family:inherit;font-size:8pt;">$400,000</font><font style="font-family:inherit;font-size:8pt;"> loan that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:8pt;">4.05%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">February&#160;1, 2028</font><font style="font-family:inherit;font-size:8pt;">, which resulted in a loss of </font><font style="font-family:inherit;font-size:8pt;">$3,575</font><font style="font-family:inherit;font-size:8pt;"> on the early extinguishment of debt. Concurrently, a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;"> ownership interest in the underlying property (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(6)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">A </font><font style="font-family:inherit;font-size:8pt;">49.9%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">10</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Co-Venture Arrangement</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(7)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:8pt;">, a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;"> ownership interest in the </font><font style="font-family:inherit;font-size:8pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:8pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(8)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company paid off in full the loan on the property. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(9)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:8pt;">, this non-recourse loan went into maturity default. The Company is negotiating with the loan servicer, which will likely result in a transition of the property to the loan servicer or a receiver.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(10)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.25%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2017</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">3.32%</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">3.30%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(11)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.30%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">October&#160;28, 2016</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">2.26%</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">2.17%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Most of the mortgage loan agreements contain a prepayment penalty provision for the early extinguishment of the debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Most of the Company's mortgage notes payable are secured by the properties on which they are placed and are non-recourse to the Company. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;">$13,500</font><font style="font-family:inherit;font-size:10pt;"> of the mortgage notes payable could become recourse to the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company expects that all loan maturities during the next twelve months, except for the loan on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, will be refinanced, restructured, extended and/or paid-off from the Company's line of credit or with cash on hand. The mortgage note payable on </font><font style="font-family:inherit;font-size:10pt;">Flagstaff Mall</font><font style="font-family:inherit;font-size:10pt;">, which went into maturity default on </font><font style="font-family:inherit;font-size:10pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:10pt;">, is a non-recourse loan.&#160;The Company is working with the loan servicer and expects the property will be transferred to the loan servicer or a receiver.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total interest expense capitalized was </font><font style="font-family:inherit;font-size:10pt;">$2,303</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,629</font><font style="font-family:inherit;font-size:10pt;"> during the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Related party mortgage notes payable are amounts due to an affiliate of NML. See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">16</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Related Party Transactions</font><font style="font-family:inherit;font-size:10pt;"> for interest expense associated with loans from NML.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The estimated fair value (Level&#160;2 measurement) of mortgage notes payable at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3,951,798</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4,628,781</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on current interest rates for comparable loans. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the property that serves as collateral for the underlying debt.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MortgageNotesPayableDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for mortgage notes payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MortgageNotesPayableDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R16.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928716800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Bank and Other Notes Payable:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock', window );">Bank and Other Notes Payable:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> Bank and Other Notes Payable:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Bank and other notes payable consist of the following:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Line of Credit:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1,500,000</font><font style="font-family:inherit;font-size:10pt;"> revolving line of credit that bears interest at </font><font style="font-family:inherit;font-size:10pt;">LIBOR</font><font style="font-family:inherit;font-size:10pt;"> plus a spread of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.38%</font><font style="font-family:inherit;font-size:10pt;"> to </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.0%</font><font style="font-family:inherit;font-size:10pt;">, depending on the Company's overall leverage level, and matures on August 6, 2018. Based on the Company's leverage level as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the borrowing rate on the facility was </font><font style="font-family:inherit;font-size:10pt;">LIBOR</font><font style="font-family:inherit;font-size:10pt;"> plus </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.50%</font><font style="font-family:inherit;font-size:10pt;">. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, borrowings under the line of credit, were </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$745,000</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$650,000</font><font style="font-family:inherit;font-size:10pt;">, respectively, less unamortized deferred finance costs of </font><font style="font-family:inherit;font-size:10pt;">$6,299</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$6,967</font><font style="font-family:inherit;font-size:10pt;">, respectively, at an average interest rate of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2.11%</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">1.95%</font><font style="font-family:inherit;font-size:10pt;">, respectively. The estimated fair value (Level&#160;2 measurement) of the line of credit at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$739,417</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$640,260</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on a present value model using a credit interest rate spread offered to the Company for comparable debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Prasada Note:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On March 29, 2013, the Company issued a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$13,330</font><font style="font-family:inherit;font-size:10pt;"> note payable that bears interest at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">5.25%</font><font style="font-family:inherit;font-size:10pt;"> and was to mature on March 29, 2016. The maturity date of the note has been extended to May 30, 2016. The note payable is collateralized by a portion of a development reimbursement agreement with the City of Surprise, Arizona. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the note had a balance of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,218</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$9,130</font><font style="font-family:inherit;font-size:10pt;">, respectively. The estimated fair value (Level&#160;2 measurement) of the note at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,244</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$9,168</font><font style="font-family:inherit;font-size:10pt;">, respectively, based on current interest rates for comparable notes. Fair value was determined using a present value model and an interest rate that included a credit value adjustment based on the estimated value of the collateral for the underlying debt.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company was in compliance with all applicable financial loan covenants.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element encapsulates disclosure pertaining to bank and other notes payable of the entity during the period. Bank and other notes payable include senior notes, term loans, line of credit and other notes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ConvertibleDebtLineOfCreditAndOtherNotesPayableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>29
<FILENAME>R17.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752935520">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Co-Venture Arrangement:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_CoVentureArrangementDisclosureAbstract', window );"><strong>Co-Venture Arrangement:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_CoVentureArrangementDisclosureTextBlock', window );">Co-Venture Arrangement:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Co-Venture Arrangement:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">September&#160;30, 2009</font><font style="font-family:inherit;font-size:10pt;">, the Company formed a joint venture, whereby a third party acquired a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">49.9%</font><font style="font-family:inherit;font-size:10pt;"> interest in Freehold Raceway Mall, a </font><font style="font-family:inherit;font-size:10pt;">1,670,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Freehold</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New Jersey</font><font style="font-family:inherit;font-size:10pt;">, and Chandler Fashion Center, a </font><font style="font-family:inherit;font-size:10pt;">1,319,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Chandler</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">Arizona</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As a result of the Company having certain rights under the agreement to repurchase the assets after the seventh year of the venture formation, the transaction did not qualify for sale treatment. The Company, however, is not obligated to repurchase the assets. The transaction has been accounted for as a profit-sharing arrangement, and accordingly the assets, liabilities and operations of the properties remain on the books of the Company and a co-venture obligation was established for the amount of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$168,154</font><font style="font-family:inherit;font-size:10pt;">, representing the net cash proceeds received from the third party. The co-venture obligation is increased for the allocation of income to the co-venture partner and decreased for distributions to the co-venture partner. The co-venture obligation was </font><font style="font-family:inherit;font-size:10pt;">$61,940</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$63,756</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_CoVentureArrangementDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_CoVentureArrangementDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_CoVentureArrangementDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This text block represents complete disclosure with respect to co-venture arrangements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_CoVentureArrangementDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>30
<FILENAME>R18.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6587659024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Noncontrolling Interests:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncontrollingInterestAbstract', window );"><strong>Noncontrolling Interest [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestDisclosureTextBlock', window );">Noncontrolling Interests:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Noncontrolling Interests:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company allocates net income of the Operating Partnership based on the weighted average ownership interest during the period. The net income of the Operating Partnership that is not attributable to the Company is reflected in the consolidated statements of operations as noncontrolling interests. The Company adjusts the noncontrolling interests in the Operating Partnership at the end of each period to reflect its ownership interest in the Company. The Company had a </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">93%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in the Operating Partnership as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. The remaining </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">7%</font><font style="font-family:inherit;font-size:10pt;"> limited partnership interest as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> was owned by certain of the Company's executive officers and directors, certain of their affiliates, and other third party investors in the form of OP Units. The OP Units may be redeemed for shares of stock or cash, at the Company's option. The redemption value for each OP Unit as of any balance sheet date is the amount equal to the average of the closing price per share of the Company's common stock, par value </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share, as reported on the New York Stock Exchange for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">10</font><font style="font-family:inherit;font-size:10pt;"> trading days ending on the respective balance sheet date. Accordingly, as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the aggregate redemption value of the then-outstanding OP Units not owned by the Company was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$860,925</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$870,625</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company issued common and preferred units of MACWH,&#160;LP in April&#160;2005 in connection with the acquisition of the Wilmorite portfolio. The common and preferred units of MACWH,&#160;LP are redeemable at the election of the holder. The Company may redeem them for cash or shares of the Company's stock at the Company's option and they are classified as permanent equity.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in permanent equity are outside ownership interests in various consolidated joint ventures. The joint ventures do not have rights that require the Company to redeem the ownership interests in either cash or stock.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncontrollingInterestAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncontrollingInterestAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>31
<FILENAME>R19.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752995584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stockholders' Equity:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteAbstract', window );"><strong>Stockholders' Equity Note [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock', window );">Stockholders' Equity:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Stockholders' Equity:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Stock Buyback Program:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company's Board of Directors authorized the repurchase of up to </font><font style="font-family:inherit;font-size:10pt;">$1,200,000</font><font style="font-family:inherit;font-size:10pt;"> of the Company's outstanding common shares over the period ending </font><font style="font-family:inherit;font-size:10pt;">September&#160;30, 2017</font><font style="font-family:inherit;font-size:10pt;">, as market conditions warrant. Repurchases may be made through open market purchases, privately negotiated transactions, structured or derivative transactions, including accelerated stock repurchase transactions, or other methods of acquiring shares and pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934, from time to time as permitted by securities laws and other legal requirements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;12, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an accelerated share repurchase program ("ASR") to repurchase </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;"> of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;"> and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,140,788</font><font style="font-family:inherit;font-size:10pt;"> shares. On </font><font style="font-family:inherit;font-size:10pt;">January&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">970,609</font><font style="font-family:inherit;font-size:10pt;"> shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,111,397</font><font style="font-family:inherit;font-size:10pt;"> shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.26</font><font style="font-family:inherit;font-size:10pt;"> per share. The ASR was funded from proceeds in connection with the financing and sale of the ownership interest in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company entered into an ASR to repurchase an additional </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;"> of the Company's common stock. In accordance with the ASR, the Company made a prepayment of </font><font style="font-family:inherit;font-size:10pt;">$400,000</font><font style="font-family:inherit;font-size:10pt;"> and received an initial share delivery of </font><font style="font-family:inherit;font-size:10pt;">4,222,193</font><font style="font-family:inherit;font-size:10pt;"> shares. On </font><font style="font-family:inherit;font-size:10pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the ASR was completed and the Company received an additional delivery of </font><font style="font-family:inherit;font-size:10pt;">861,235</font><font style="font-family:inherit;font-size:10pt;"> shares. The average price of the </font><font style="font-family:inherit;font-size:10pt;">5,083,428</font><font style="font-family:inherit;font-size:10pt;"> shares repurchased under the ASR was </font><font style="font-family:inherit;font-size:10pt;">$78.69</font><font style="font-family:inherit;font-size:10pt;"> per share. The ASR was funded from borrowings under the Company's line of credit, which had been recently paid down from the proceeds from the recently completed financings and sale of ownership interests (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Special Dividends:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On October 30, 2015, the Company declared </font><font style="font-family:inherit;font-size:10pt;">two</font><font style="font-family:inherit;font-size:10pt;"> special dividends/distributions ("Special Dividend"), each of </font><font style="font-family:inherit;font-size:10pt;">$2.00</font><font style="font-family:inherit;font-size:10pt;"> per share of common stock and per OP Unit.&#160; The first Special Dividend was paid on December 8, 2015 to common stockholders and OP Unit holders of record on November 12, 2015.&#160;The second Special Dividend was paid on January 6, 2016 to common stockholders and OP Unit holders of record on November 12, 2015. The Special Dividends were funded from proceeds in connection with the financing and sale of ownership interests in the </font><font style="font-family:inherit;font-size:10pt;">PPR Portfolio</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">Arrowhead Towne Center</font><font style="font-family:inherit;font-size:10pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">At-The-Market Stock Offering Program ("ATM Program"):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On August 20, 2014, the Company entered into an equity distribution agreement with a number of sales agents (the "ATM Program") to issue and sell, from time to time, shares of common stock, par value </font><font style="font-family:inherit;font-size:10pt;">$0.01</font><font style="font-family:inherit;font-size:10pt;"> per share, having an aggregate offering price of up to </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;"> (the &#8220;ATM Shares&#8221;). Sales of the ATM Shares can be made in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an &#8220;at the market&#8221; offering, which includes sales made directly on the New York Stock Exchange or sales made to or through a market maker other than on an exchange. The Company agreed to pay each sales agent a commission that was not to exceed, but could have been lower than, </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> of the gross proceeds of the ATM Shares sold through such sales agent under the distribution agreement.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">$500,000</font><font style="font-family:inherit;font-size:10pt;"> of the ATM Shares were available to be sold under the ATM Program. Actual future sales of the ATM Shares under the ATM Program will depend upon a variety of factors including but not limited to market conditions, the trading price of the Company's common stock and the Company's capital needs. The Company has no obligation to sell the ATM Shares under the ATM Program.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityNoteDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(d),(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 4<br> -Subparagraph (SAB TOPIC 4.C)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Preferred Stock<br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section C<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityNoteDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>32
<FILENAME>R20.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6926880464">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationsAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationDisclosureTextBlock', window );">Acquisitions:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Acquisitions:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">October&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;">, the Company purchased </font><font style="font-family:inherit;font-size:10pt;">AWE/Talisman</font><font style="font-family:inherit;font-size:10pt;">'s ownership interest in its consolidated joint venture in </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;"> for </font><font style="font-family:inherit;font-size:10pt;">$69,987</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$55,867</font><font style="font-family:inherit;font-size:10pt;"> and the settlement of the balance on notes receivables of </font><font style="font-family:inherit;font-size:10pt;">$14,120</font><font style="font-family:inherit;font-size:10pt;">. The cash payment was funded by borrowings under the Company's line of credit. The purchase agreement includes contingent consideration based on the financial performance of </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of Chicago</font><font style="font-family:inherit;font-size:10pt;"> at an agreed upon date in 2016. The Company estimated the fair value of the contingent consideration as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> to be </font><font style="font-family:inherit;font-size:10pt;">$23,459</font><font style="font-family:inherit;font-size:10pt;">, which has been included in other accrued liabilities. As a result of this acquisition, the noncontrolling interest of </font><font style="font-family:inherit;font-size:10pt;">$76,141</font><font style="font-family:inherit;font-size:10pt;"> was reversed.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Inland Center</font><font style="font-family:inherit;font-size:10pt;font-style:italic;">:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">February&#160;17, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company acquired the remaining </font><font style="font-family:inherit;font-size:10pt;">50%</font><font style="font-family:inherit;font-size:10pt;"> ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;"> that it did not previously own for </font><font style="font-family:inherit;font-size:10pt;">$51,250</font><font style="font-family:inherit;font-size:10pt;">. The purchase price was funded by a cash payment of </font><font style="font-family:inherit;font-size:10pt;">$26,250</font><font style="font-family:inherit;font-size:10pt;"> and the assumption of the third party's share of the mortgage note payable on the property of </font><font style="font-family:inherit;font-size:10pt;">$25,000</font><font style="font-family:inherit;font-size:10pt;">. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">4</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:10pt;">). As a result of this transaction, the Company obtained </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> ownership of </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">. The acquisition was completed in order to obtain </font><font style="font-family:inherit;font-size:10pt;">100%</font><font style="font-family:inherit;font-size:10pt;"> ownership and control over this asset.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is a summary of the allocation of the fair value of </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91,871</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,752</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets acquired</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,405</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage note payable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other accrued liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities assumed</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company determined that the purchase price represented the fair value of the additional ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;"> that was acquired. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of existing ownership interest (at 50% ownership)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,161</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is the reconciliation of the purchase price to the fair value of the acquired net assets:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Purchase price</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less debt assumed</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,000</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,161</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Since the date of acquisition, the Company has included </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;"> in its consolidated financial statements.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1497-128463<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1490-128463<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e7008-128479<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1486-128463<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1500-128463<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1524-128463<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e7000-128479<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4922-128472<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4934-128472<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4926-128472<br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1383-128463<br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6996-128479<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R21.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928764512">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Dispositions:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract', window );"><strong>Discontinued Operations and Disposal Groups [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock', window );">Dispositions:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Dispositions:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following are recent dispositions of properties:  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">June&#160;30, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company conveyed </font><font style="font-family:inherit;font-size:10pt;">Great Northern Mall</font><font style="font-family:inherit;font-size:10pt;">, an </font><font style="font-family:inherit;font-size:10pt;">895,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Clay</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">New York</font><font style="font-family:inherit;font-size:10pt;">, to the mortgage lender by a deed-in-lieu of foreclosure and was discharged from the mortgage note payable. The loan was nonrecourse to the Company. As a result, the Company recognized a loss on the extinguishment of debt of </font><font style="font-family:inherit;font-size:10pt;">$1,627</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">November&#160;19, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Panorama Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">312,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">community center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Panorama City</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$98,000</font><font style="font-family:inherit;font-size:10pt;">, resulting in a gain on the sale of assets of </font><font style="font-family:inherit;font-size:10pt;">$73,726</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=51716988&amp;loc=SL51721533-107759<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4B<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721665-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5C<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721675-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3A<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=SL51724579-110230<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4A<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721663-107760<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2941-110230<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1361-107760<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5B<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721673-107760<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3A<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721659-107760<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5A<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721671-107760<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 5D<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721677-107760<br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=d3e1474-107760<br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928810720">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract', window );"><strong>Commitments and Contingencies Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock', window );">Commitments and Contingencies:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Commitments and Contingencies:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has certain properties that are subject to non-cancelable operating ground leases. The leases expire at various times through 2098, subject in some cases to options to extend the terms of the lease. Certain leases provide for contingent rent payments based on a percentage of base rental income, as defined in the lease. Ground lease rent expense was  </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,511</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,945</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">No</font><font style="font-family:inherit;font-size:10pt;"> contingent rent was incurred during the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company was contingently liable for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$61,002</font><font style="font-family:inherit;font-size:10pt;"> in letters of credit guaranteeing performance by the Company of certain obligations relating to the Centers. The Company does not believe that these letters of credit will result in a liability to the Company.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has entered into a number of construction agreements related to its redevelopment and development activities. Obligations under these agreements are contingent upon the completion of the services within the guidelines specified in the agreements. At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company had </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$62,832</font><font style="font-family:inherit;font-size:10pt;"> in outstanding obligations which it believes will be settled in the next twelve months.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51674963&amp;loc=d3e12565-110249<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>35
<FILENAME>R23.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6581785104">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">Related-Party Transactions:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Related Party Transactions:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain unconsolidated joint ventures have engaged the Management Companies to manage the operations of the Centers. Under these arrangements, the Management Companies are reimbursed for compensation paid to on-site employees, leasing agents and project managers at the Centers, as well as insurance costs and other administrative expenses. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following are fees charged to unconsolidated joint ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:356px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:233px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,211</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development and leasing fees</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,961</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,892</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,914</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain mortgage notes on the properties are held by NML (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">8</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">Mortgage Notes Payable</font><font style="font-family:inherit;font-size:10pt;">). Interest expense in connection with these notes was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,272</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,729</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Included in accounts payable and accrued expenses is interest payable on these notes of </font><font style="font-family:inherit;font-size:10pt;">$751</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$756</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Due from affiliates includes prepaid and/or unreimbursed costs and fees from unconsolidated joint ventures due to the Management Companies.  As of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the amounts due (from) to the unconsolidated joint ventures was </font><font style="font-family:inherit;font-size:10pt;">$(2,865)</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7,467</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In addition, due from affiliates at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> included a note receivable from RED/303 LLC ("RED") that bears interest at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">5.25%</font><font style="font-family:inherit;font-size:10pt;"> and matures on May 30, 2016. Interest income earned on this note was </font><font style="font-family:inherit;font-size:10pt;">$117</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$137</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. The balance on this note was </font><font style="font-family:inherit;font-size:10pt;">$8,222</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$9,252</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. RED is considered a related party because it is a partner in a joint venture development project. The note is collateralized by RED's membership interest in a development agreement.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Also included in due from affiliates is a note receivable from </font><font style="font-family:inherit;font-size:10pt;">Lennar Corporation</font><font style="font-family:inherit;font-size:10pt;"> that bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:10pt;">2%</font><font style="font-family:inherit;font-size:10pt;"> and matures upon the completion of certain milestones in connection with the development of </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of San Francisco</font><font style="font-family:inherit;font-size:10pt;">. Interest income earned on this note was </font><font style="font-family:inherit;font-size:10pt;">$521</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$433</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. The balance on this note was </font><font style="font-family:inherit;font-size:10pt;">$67,730</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$67,209</font><font style="font-family:inherit;font-size:10pt;"> at </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font><font style="font-family:inherit;font-size:10pt;">Lennar Corporation</font><font style="font-family:inherit;font-size:10pt;"> is considered a related party because it has an ownership interest in </font><font style="font-family:inherit;font-size:10pt;">Fashion Outlets of San Francisco</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39603-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39678-107864<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39691-107864<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph b<br> -Article 3A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R24.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6753040896">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Share and Unit-Based Plans:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Share and Unit-Based Plans:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under the Long-Term Incentive Plan ("LTIP"), each award recipient is issued a form of operating partnership units ("LTIP Units") in the Operating Partnership. Upon the occurrence of specified events and subject to the satisfaction of applicable vesting conditions, LTIP Units (after conversion into OP Units) are ultimately redeemable for common stock of the Company, or cash at the Company's option, on a </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-unit for </font><font style="font-family:inherit;font-size:10pt;">one</font><font style="font-family:inherit;font-size:10pt;">-share basis. LTIP Units receive cash dividends based on the dividend amount paid on the common stock of the Company. The LTIP may include both market-indexed awards and service-based awards.  The market-indexed LTIP Units vest over the service period of the award based on the percentile ranking of the Company in terms of total return to the stockholders (the "Total Return") per common stock share relative to the Total Return of a group of peer REITs, as measured at the end of the measurement period.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">January&#160;1, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company granted </font><font style="font-family:inherit;font-size:10pt;">58,786</font><font style="font-family:inherit;font-size:10pt;"> LTIP Units with a grant date fair value of </font><font style="font-family:inherit;font-size:10pt;">$80.69</font><font style="font-family:inherit;font-size:10pt;"> per LTIP Unit that will vest in equal annual installments over a service period ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. Concurrently, the Company granted </font><font style="font-family:inherit;font-size:10pt;">266,899</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">market-indexed</font><font style="font-family:inherit;font-size:10pt;"> LTIP Units ("2016 LTIP Units") at a grant date fair value of </font><font style="font-family:inherit;font-size:10pt;">$53.32</font><font style="font-family:inherit;font-size:10pt;"> per LTIP Unit that vest over a service period ending </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2018</font><font style="font-family:inherit;font-size:10pt;">. The fair value of the 2016 LTIP Units was estimated on the date of grant using a Monte Carlo Simulation model that assumed a risk free interest rate of </font><font style="font-family:inherit;font-size:10pt;">1.32%</font><font style="font-family:inherit;font-size:10pt;"> and an expected volatility of </font><font style="font-family:inherit;font-size:10pt;">20.31%</font><font style="font-family:inherit;font-size:10pt;">. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">March&#160;4, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company granted </font><font style="font-family:inherit;font-size:10pt;">154,686</font><font style="font-family:inherit;font-size:10pt;"> LTIP Units at a fair value of </font><font style="font-family:inherit;font-size:10pt;">$79.20</font><font style="font-family:inherit;font-size:10pt;"> per LTIP Unit that were fully vested on the grant date. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following summarizes the compensation cost under the share and unit-based plans:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:443px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:320px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,399</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,228</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock awards</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock units</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,372</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock options</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phantom stock units</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">604</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">311</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,399</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,815</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company capitalized share and unit-based compensation costs of </font><font style="font-family:inherit;font-size:10pt;">$4,959</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$4,347</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. Unrecognized compensation costs of share and unit-based plans at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> consisted of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$17,955</font><font style="font-family:inherit;font-size:10pt;"> from LTIP Units, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6,628</font><font style="font-family:inherit;font-size:10pt;"> from stock units, </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$23</font><font style="font-family:inherit;font-size:10pt;"> from stock options and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$746</font><font style="font-family:inherit;font-size:10pt;"> from phantom stock units.  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"><tr><td colspan="28" rowspan="1"></td></tr><tr><td style="width:165px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Awards</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Phantom Stock Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Units</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56,315</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">73.24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">132,086</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">74.58</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">480,371</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">65.00</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14,534</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">85,045</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.24</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vested</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(154,686</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(5,237</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.83</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(67,703</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">71.64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Forfeited</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">382,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">60.47</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9,297</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">149,428</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">78.55</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average grant date fair value.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:634px;border-collapse:collapse;text-align:left;"><tr><td colspan="14" rowspan="1"></td></tr><tr><td style="width:274px;" rowspan="1" colspan="1"></td><td style="width:82px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:76px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:82px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:76px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">SARs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Options</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">417,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">55.13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,314</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">58.15</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Exercised</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(25,988</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">52.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Special dividend adjustment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,185</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">251</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">401,980</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,565</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average exercise price.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6752979616">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">Income Taxes:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:24px;text-indent:-24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Income Taxes:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company has made taxable REIT subsidiary elections for all of its corporate subsidiaries other than its Qualified REIT Subsidiaries. The elections, effective for the year beginning </font><font style="font-family:inherit;font-size:10pt;">January&#160;1, 2001</font><font style="font-family:inherit;font-size:10pt;"> and future years, were made pursuant to Section&#160;856(l) of the Code. The Company's taxable REIT subsidiaries ("TRSs") are subject to corporate level income taxes which are provided for in the Company's consolidated financial statements. The Company's primary TRSs include Macerich Management Company and Macerich Arizona Partners&#160;LLC.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The income tax provision of the TRSs are as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:418px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:270px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:58px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:58px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax (expense) benefit </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The net operating loss carryforwards are currently scheduled to expire through </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2035</font><font style="font-family:inherit;font-size:10pt;">, beginning in </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2024</font><font style="font-family:inherit;font-size:10pt;">. Net deferred tax assets of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$37,591</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$38,847</font><font style="font-family:inherit;font-size:10pt;"> were included in deferred charges and other assets, net at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The tax years </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2011</font><font style="font-family:inherit;font-size:10pt;"> through </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;"> remain open to examination by the taxing jurisdictions to which the Company is subject. The Company does not expect that the total amount of unrecognized tax benefit will materially change within the next twelve months.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928795024">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events:<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">Subsequent Events:</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Subsequent Events:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;13, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company sold </font><font style="font-family:inherit;font-size:10pt;">Capitola Mall</font><font style="font-family:inherit;font-size:10pt;">, a </font><font style="font-family:inherit;font-size:10pt;">586,000</font><font style="font-family:inherit;font-size:10pt;"> square foot </font><font style="font-family:inherit;font-size:10pt;">regional shopping center</font><font style="font-family:inherit;font-size:10pt;"> in </font><font style="font-family:inherit;font-size:10pt;">Capitola</font><font style="font-family:inherit;font-size:10pt;">, </font><font style="font-family:inherit;font-size:10pt;">California</font><font style="font-family:inherit;font-size:10pt;">, for </font><font style="font-family:inherit;font-size:10pt;">$93,000</font><font style="font-family:inherit;font-size:10pt;">. The Company used the proceeds from the sale to pay down its line of credit and for general corporate purposes.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;19, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company completed an ASR and took delivery of an additional </font><font style="font-family:inherit;font-size:10pt;">861,235</font><font style="font-family:inherit;font-size:10pt;"> shares.  Upon the completion of the ASR, the Company repurchased a total of </font><font style="font-family:inherit;font-size:10pt;">5,083,428</font><font style="font-family:inherit;font-size:10pt;"> shares with an average price of </font><font style="font-family:inherit;font-size:10pt;">$78.69</font><font style="font-family:inherit;font-size:10pt;"> per share (See Note&#160;</font><font style="font-family:inherit;font-size:10pt;">12</font><font style="font-family:inherit;font-size:10pt;">&#8212;</font><font style="font-family:inherit;font-size:10pt;">Stockholders' Equity</font><font style="font-family:inherit;font-size:10pt;">).</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On </font><font style="font-family:inherit;font-size:10pt;">April&#160;26, 2016</font><font style="font-family:inherit;font-size:10pt;">, the Company announced a dividend/distribution of </font><font style="font-family:inherit;font-size:10pt;">$0.68</font><font style="font-family:inherit;font-size:10pt;"> per share for common stockholders and OP Unit holders of record on </font><font style="font-family:inherit;font-size:10pt;">May&#160;5, 2016</font><font style="font-family:inherit;font-size:10pt;">. All dividends/distributions will be paid 100% in cash on </font><font style="font-family:inherit;font-size:10pt;">June&#160;3, 2016</font><font style="font-family:inherit;font-size:10pt;">.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventsTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventsTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>39
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750015584">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies: (Policies)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Presentation</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Basis of Presentation:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The accompanying consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP") for interim financial information and with the instructions to Form&#160;10-Q and Article&#160;10 of Regulation&#160;S-X. They do not include all of the information and footnotes required by GAAP for complete financial statements and have not been audited by an independent registered public accounting firm.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">On January 1, 2016, the Company adopted Accounting Standards Update (&#8220;ASU&#8221;) 2015-02,&#160;&#8220;Consolidation (Topic 810): Amendments to the Consolidation Analysis,&#8221; which made certain changes to both the variable interest model and the voting model, including changes to (1) the identification of variable interests (fees paid to a decision maker or service provider), (2) the variable interest entity ("VIE") characteristics for a limited partnership or similar entity and (3) the primary beneficiary determination. The Company evaluated the new standard and determined that no change was required to its accounting for variable interest entities.  However, under the guidance of the new standard, all of the Company's consolidated joint ventures, including the Operating Partnership, now meet the definition and criteria as VIEs and the Company is the primary beneficiary of each VIE.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company's sole significant asset is its investment in the Operating Partnership and as a result, substantially all of the Company's assets and liabilities represent the assets and liabilities of the Operating Partnership.  In addition the Operating Partnership has investments in a number of VIEs.  </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The VIEs included the following assets and liabilities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:480px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:69px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:70px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">360,666</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,129</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,202</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,075</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,868</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,204</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138,130</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,767</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81,932</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">79,984</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,062</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">219,751</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">All intercompany accounts and transactions have been eliminated in the consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The unaudited interim consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form&#160;10-K for the year ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation of the consolidated financial statements for the interim periods have been made. The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The accompanying consolidated balance sheet as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> has been derived from the audited financial statements but does not include all disclosures required by GAAP.</font></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recent Accounting Pronouncements</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:30px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Recent Accounting Pronouncements:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In May 2014, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued ASU 2014-09,&#160;&#8220;Revenue From Contracts With Customers,&#8221;&#160;which outlines a comprehensive model for entities to use in accounting for revenue arising from contracts with customers. ASU 2014-09 states that &#8220;an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.&#8221; While ASU 2014-09 specifically references contracts with customers, it may apply to certain other transactions such as the sale of real estate or equipment. In July 2015, the FASB voted to defer the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning January 1, 2018, with early adoption permitted beginning January 1, 2017. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;In April 2015, the FASB issued ASU 2015-03,&#160;&#8220;Simplifying the Presentation of Debt Issuance Costs,&#8221; which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. The Company's adoption of ASU 2015-03 on January 1, 2016 resulted in an adjustment of its consolidated balance sheet at December 31, 2015 to reflect the new presentation required by the standard. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In September 2015, the FASB issued ASU 2015-16, "Simplifying the Accounting for Measurement-Period Adjustments," which requires adjustments to provisional amounts used in business combinations during the measurement period to be recognized in the reporting period in which the adjustment amounts are determined. It also requires the disclosure of the impact on changes in estimates on earnings, depreciation, amortization and other income effects. The Company's adoption of this standard on January 1, 2016 did not have an impact on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)," which requires lessees to record operating and financing leases as assets and liabilities on the balance sheet and lessors to expense costs that are not initial direct leasing costs. ASU 2016-02 is effective for the Company beginning January 1, 2019. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In March 2016, the FASB issued ASU 2016-09, "Compensation-Stock Compensation (Topic 718)," which amends the accounting for share-based payments, including the income tax consequences, classification of awards and classification on the statement of cash flows. ASU 2016-09 is effective for the Company beginning January 1, 2017. The Company is evaluating the impact of the adoption of this standard on its consolidated financial statements.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfAccountingPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>40
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928721552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies: Summary of Significant Accounting Policies: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock', window );">Schedule of Variable Interest Entities</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The VIEs included the following assets and liabilities:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;text-indent:32px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:651px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:480px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:69px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:70px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">360,666</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">362,129</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">76,202</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">74,075</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,868</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">436,204</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">138,130</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">139,767</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">81,932</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">79,984</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,062</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">219,751</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfVariableInterestEntitiesTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5747-111685<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6228884-111685<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5728-111685<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Variable Interest Entity<br> -URI http://asc.fasb.org/extlink&amp;oid=6528138<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5A<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=SL6759159-111685<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5710-111685<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfVariableInterestEntitiesTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R29.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928714688">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share ("EPS"): (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock', window );">Reconciliation of numerator and denominator used in computation of earnings per share</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per Share ("EPS"):</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table reconciles the numerator and denominator used in the computation of earnings per share for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;"> (shares in thousands):</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:548px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:416px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:53px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Numerator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">451,375</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,667</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to noncontrolling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(30,460</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(2,056</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income attributable to the Company</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,915</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,611</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Allocation of earnings to participating securities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(420</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(148</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Numerator for basic and diluted earnings per share&#8212;net income attributable to common stockholders</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">420,495</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,463</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Denominator</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for basic earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">151,984</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,336</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Effect of dilutive securities:(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Share and unit-based compensation plans</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">119</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Denominator for diluted earnings per share&#8212;weighted average number of common shares outstanding</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">152,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">158,544</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Earnings per common share&#8212;net income attributable to common stockholders:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basic</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.77</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Diluted</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2.76</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">0.15</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">138,759</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">140,490</font><font style="font-family:inherit;font-size:9pt;"> convertible preferred units for the </font><font style="font-family:inherit;font-size:9pt;">three months ended</font><font style="font-family:inherit;font-size:9pt;"> </font><font style="font-family:inherit;font-size:9pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:9pt;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:9pt;">Diluted EPS excludes </font><font style="font-family:inherit;font-size:9pt;">10,820,343</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">10,516,523</font><font style="font-family:inherit;font-size:9pt;"> Operating Partnership units ("OP Units") for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively, as their impact was antidilutive.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6639911712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract', window );"><strong>Equity Method Investments and Joint Ventures [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock', window );">Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures and Other Related Information</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:681px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:504px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Properties, net</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,246,945</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,334,442</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">621,668</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">507,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities and partners' capital(1):</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage and other notes payable(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,926,654</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,607,588</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">442,846</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">355,634</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Outside partners' capital</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,063,630</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,293,142</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities and partners' capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,868,613</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,842,160</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Investments in unconsolidated joint ventures:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's capital</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,435,483</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,585,796</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Basis adjustment(3)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(611,962</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(77,701</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Assets&#8212;Investments in unconsolidated joint ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,844,516</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,532,552</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Liabilities&#8212;Distributions in excess of investments in unconsolidated joint ventures</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(20,995</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(24,457</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,823,521</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,508,095</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts include the assets of </font><font style="font-family:inherit;font-size:10pt;">$3,258,293</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$3,283,702</font><font style="font-family:inherit;font-size:10pt;"> of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively, and liabilities of </font><font style="font-family:inherit;font-size:10pt;">$1,919,760</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1,938,241</font><font style="font-family:inherit;font-size:10pt;"> of </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain mortgage notes payable could become recourse debt to the Company should the joint venture be unable to discharge the obligations of the related debt. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, a total of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$5,000</font><font style="font-family:inherit;font-size:10pt;"> could become recourse debt to the Company. As of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, the Company had an indemnity agreement from a joint venture partner for </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$2,500</font><font style="font-family:inherit;font-size:10pt;"> of the guaranteed amount.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$458,843</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$460,872</font><font style="font-family:inherit;font-size:10pt;"> as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;">, respectively. NML is considered a related party because it is a joint venture partner with the Company in Macerich Northwestern Associates&#8212;Broadway Plaza. Interest expense on these borrowings was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$6,366</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$8,508</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company amortizes the difference between the cost of its investments in unconsolidated joint ventures and the book value of the underlying equity into income on a straight-line basis consistent with the lives of the underlying assets. The amortization of this difference was </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$4,457</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$420</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;font-weight:normal;">three months ended</font><font style="font-family:inherit;font-size:10pt;"> </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock', window );">Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:593px;border-collapse:collapse;text-align:left;"><tr><td colspan="13" rowspan="1"></td></tr><tr><td style="width:320px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:72px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Pacific</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Premier</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Retail&#160;LLC (1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Joint</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Ventures</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2016</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">30,583</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">106,373</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">136,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">759</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,753</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,512</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,976</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">43,443</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">55,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,838</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,352</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">13,190</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">46,156</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,921</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">208,077</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,786</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,298</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">63,084</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,214</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">27,738</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">28,084</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">56,533</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">84,617</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,084</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">137,569</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">190,653</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Loss on sale or write down of assets, net</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(5</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(6,928</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">24,347</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,419</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net (loss) income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,244</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">12,904</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">11,660</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:normal;">Three Months Ended March 31, 2015</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Revenues:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Minimum rents</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">67,522</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Percentage rents</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,623</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant recoveries</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">32,363</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,590</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total revenues</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">109,098</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Expenses:</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Shopping center and operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">42,178</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20,383</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Depreciation and amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">29,670</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total operating expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">92,231</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">16,867</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Company's equity in net income</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,274</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">_______________________________________________________________________________</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:42px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:inherit;font-size:10pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">These amounts exclude the results of operations from January 1, 2015 to March 31, 2015, as </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> was wholly-owned during that period. On October 30, 2015, as a result of the PPR Portfolio transaction discussed above, </font><font style="font-family:inherit;font-size:10pt;">Pacific Premier Retail LLC</font><font style="font-family:inherit;font-size:10pt;"> was converted from wholly-owned to an unconsolidated joint venture.</font></div></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of summarized balance sheet financial information for investments accounted for using the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsSummarizedFinancialInformationBalanceSheetTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of summarized statement of operations information for investments accounted for using the equity method of accounting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsSummarizedFinancialInformationStatementOfOperationsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>43
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6646817472">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, net: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock', window );">Components of property</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property, net consists of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:588px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:410px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Land</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,658,466</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,894,717</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Buildings and improvements</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,595,692</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,752,892</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Tenant improvements</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">573,863</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">637,355</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Equipment and furnishings</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">161,891</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">169,841</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Construction in progress</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">264,431</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">234,851</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,254,343</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">10,689,656</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated depreciation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,727,691</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,892,744</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">7,526,652</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">8,796,912</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747414736">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deferred Charges and Other Assets, net: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfOtherAssetsTableTextBlock', window );">Schedule of deferred charges and other assets, net</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges and other assets, net consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:412px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">224,302</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">248,709</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Intangible assets:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">In-place lease values</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">159,057</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">196,969</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Leasing commissions and legal costs</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,556</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Above-market leases</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred tax assets</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,591</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">38,847</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred compensation plan assets</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,818</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">37,341</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">53,363</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">70,070</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">760,420</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">864,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization(1)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(255,256</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(300,492</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">505,164</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">564,291</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Accumulated amortization includes </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$84,501</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">$109,453</font><font style="font-family:inherit;font-size:9pt;"> relating to in-place lease values, leasing commissions and legal costs at </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:9pt;">, respectively. Amortization expense of in-place lease values, leasing commissions and legal costs was </font><font style="font-family:inherit;font-size:9pt;">$8,847</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:inherit;font-size:9pt;">$21,678</font><font style="font-family:inherit;font-size:9pt;"> for the </font><font style="font-family:inherit;font-size:9pt;color:#000000;text-decoration:none;">three months ended</font><font style="font-family:inherit;font-size:9pt;"> </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:9pt;"> and </font><font style="font-family:Times New Roman;font-size:9pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2015</font><font style="font-family:inherit;font-size:9pt;">, respectively.</font></div></td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock', window );">Allocated values of above-market leases and below-market leases</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The allocated values of above-market leases and below-market leases consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:589px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:412px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:73px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Above-Market Leases</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">210,733</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">220,847</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(70,277</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(73,520</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">140,456</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">147,327</font></div></td><td style="vertical-align:bottom;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Below-Market Leases(1)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:3px double #000000;" rowspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Original allocated value</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">202,454</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">227,063</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less accumulated amortization</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(91,718</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(101,872</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">110,736</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">125,191</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:4px;text-align:center;padding-left:48px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:72px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;padding-left:48px;"><font style="font-family:inherit;font-size:9pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">Below-market leases are included in other accrued liabilities.</font></div></td></tr></table></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16265-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfOtherAssetsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfOtherAssetsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762381760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Mortgage Notes Payable: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Debt Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfMortgageNotesPayableTableTextBlock', window );">Mortgage notes payable</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage notes payable at </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:10pt;"> consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:614px;border-collapse:collapse;text-align:left;"><tr><td colspan="27" rowspan="1"></td></tr><tr><td style="width:189px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:47px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:52px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="15" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Carrying Amount of Mortgage Notes(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, 2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, 2015</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Related Party</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Other</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Effective Interest</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Rate(2)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Monthly</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Debt</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Service(3)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Maturity</font></div><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Date(4)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center(5)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">221,194</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Chandler Fashion Center(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,784</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">199,766</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.77</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">625</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Danbury Fair Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">110,307</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,078</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">111,079</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5.53</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,538</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(7)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">193,337</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall(8)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">13,999</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Chicago</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,688</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">198,653</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.10</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">323</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,903</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117,708</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.89</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">727</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2020</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Flagstaff Mall(9)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">37,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8.97</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">153</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2015</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">FlatIron Crossing(7)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">254,075</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Freehold Raceway Mall(6)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,805</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,836</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.20</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,132</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Green Acres Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">302,428</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">303,960</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.61</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,447</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2021</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Kings Plaza Shopping Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">463,952</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">466,266</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.67</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2,229</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Northgate Mall(10)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,777</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">63,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.32</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">143</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Oaks, The</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">204,492</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">205,555</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,064</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Pacific View</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,419</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,108</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.08</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">668</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Queens Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">600,000</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.49</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,744</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2025</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Santa Monica Place</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">223,509</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">224,815</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.99</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,004</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2018</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">SanTan Village Regional Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">129,911</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">130,638</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.14</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">589</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2019</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">104,023</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">105,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1.80</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">640</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2017</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center(11)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,674</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">67,749</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2.26</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">154</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2016</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Towne Mall</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,860</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">21,956</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.48</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">117</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Tucson La Encantada</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,628</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">69,991</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.23</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">368</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Victor Valley, Mall of</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,515</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">114,500</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.00</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">380</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2024</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vintage Faire Mall</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">273,125</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">274,417</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3.55</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,255</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2026</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Westside Pavilion</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">145,942</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">146,630</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4.49</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">%</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2022</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">179,935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">3,732,114</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">181,069</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,427,518</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#160;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(1)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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:</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:298px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,254</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,467</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,168</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">263</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,905</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18,408</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:60px;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The mortgage notes payable balances also include unamortized deferred finance costs that are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method.  Unamortized deferred finance costs were </font><font style="font-family:inherit;font-size:8pt;">$13,182</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">$16,025</font><font style="font-family:inherit;font-size:8pt;"> at </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(2)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The interest rate disclosed represents the effective interest rate, including the debt premiums (discounts) and deferred finance costs.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(3)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The monthly debt service represents the payment of principal and interest.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(4)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">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.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(5)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;6, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company replaced the existing loan on the property with a new </font><font style="font-family:inherit;font-size:8pt;">$400,000</font><font style="font-family:inherit;font-size:8pt;"> loan that bears interest at an effective rate of </font><font style="font-family:inherit;font-size:8pt;">4.05%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">February&#160;1, 2028</font><font style="font-family:inherit;font-size:8pt;">, which resulted in a loss of </font><font style="font-family:inherit;font-size:8pt;">$3,575</font><font style="font-family:inherit;font-size:8pt;"> on the early extinguishment of debt. Concurrently, a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">40%</font><font style="font-family:inherit;font-size:8pt;"> ownership interest in the underlying property (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(6)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">A </font><font style="font-family:inherit;font-size:8pt;">49.9%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan has been assumed by a third party in connection with a co-venture arrangement (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">10</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:Times New Roman;font-size:8pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">Co-Venture Arrangement</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(7)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">January&#160;14, 2016</font><font style="font-family:inherit;font-size:8pt;">, a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;"> interest in the loan was assumed by a third party in connection with the sale of a </font><font style="font-family:inherit;font-size:8pt;">49%</font><font style="font-family:inherit;font-size:8pt;"> ownership interest in the </font><font style="font-family:inherit;font-size:8pt;">MAC Heitman Portfolio</font><font style="font-family:inherit;font-size:8pt;"> (See Note&#160;</font><font style="font-family:inherit;font-size:8pt;">4</font><font style="font-family:inherit;font-size:8pt;">&#8212;</font><font style="font-family:inherit;font-size:8pt;">Investments in Unconsolidated Joint Ventures</font><font style="font-family:inherit;font-size:8pt;">).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(8)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2016</font><font style="font-family:inherit;font-size:8pt;">, the Company paid off in full the loan on the property. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(9)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">On </font><font style="font-family:inherit;font-size:8pt;">November&#160;1, 2015</font><font style="font-family:inherit;font-size:8pt;">, this non-recourse loan went into maturity default. The Company is negotiating with the loan servicer, which will likely result in a transition of the property to the loan servicer or a receiver.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(10)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.25%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">March&#160;1, 2017</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">3.32%</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">3.30%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:10px;padding-bottom:10px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:60px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;padding-left:30px;"><font style="font-family:inherit;font-size:8pt;">(11)</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">The loan bears interest at LIBOR plus </font><font style="font-family:inherit;font-size:8pt;">2.30%</font><font style="font-family:inherit;font-size:8pt;"> and matures on </font><font style="font-family:inherit;font-size:8pt;">October&#160;28, 2016</font><font style="font-family:inherit;font-size:8pt;">. At </font><font style="font-family:inherit;font-size:8pt;">March&#160;31, 2016</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">December&#160;31, 2015</font><font style="font-family:inherit;font-size:8pt;">, the total interest rate was </font><font style="font-family:inherit;font-size:8pt;">2.26%</font><font style="font-family:inherit;font-size:8pt;"> and </font><font style="font-family:inherit;font-size:8pt;">2.17%</font><font style="font-family:inherit;font-size:8pt;">, respectively.</font></div></td></tr></table></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock', window );">Debt premiums (discounts) on mortgage notes payable</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Debt premiums (discounts) consist of the following:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:478px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:298px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:77px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Property Pledged as Collateral</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">March&#160;31, <br clear="none"/>2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">December&#160;31, <br clear="none"/>2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Arrowhead Towne Center</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,494</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Deptford Mall</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(3</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Fashion Outlets of Niagara Falls USA</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,254</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,486</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Stonewood Center</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">4,467</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">5,168</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Superstition Springs Center</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">184</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">263</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">8,905</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">18,408</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of debt premiums and discounts on mortgage loans payable by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfMortgageNotesPayablePremiumsDiscountsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfMortgageNotesPayableTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfMortgageNotesPayableTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6646612880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationsAbstract', window );"><strong>Business Combinations [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock', window );">Schedule of recognized identified assets acquired and liabilities assumed</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is a summary of the allocation of the fair value of </font><font style="font-family:inherit;font-size:10pt;">Inland Center</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Property</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">91,871</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred charges</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">9,752</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">5,782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total assets acquired</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">107,405</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Mortgage note payable</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">50,000</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Other accrued liabilities</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total liabilities assumed</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">54,905</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock', window );">Summary of gain on remeasurement of existing investment</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of existing ownership interest (at 50% ownership)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">26,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(4,161</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock', window );">Schedule of reconciliation of the purchase price to the fair value of the acquired net assets</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following is the reconciliation of the purchase price to the fair value of the acquired net assets:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:82.06627680311891%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:85%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:13%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Purchase price</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">51,250</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Less debt assumed</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(25,000</font></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Carrying value of investment</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,161</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Gain on remeasurement of assets</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">22,089</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Fair value of acquired net assets (at 100% ownership)</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">52,500</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of a fair value adjustment to an existing investment made in connection with a business acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfBusinessAcquisitionPreexistingInvestmentFairValueAdjustmentTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of reconciliation of the purchase price to the fair value of the acquired net assets in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfReconciliationOfPurchasePriceToFairValueOfAcquiredNetAssetsTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>47
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928777760">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock', window );">Schedule of fees charged to unconsolidated joint ventures</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following are fees charged to unconsolidated joint ventures:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:356px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:233px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Management fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,953</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,211</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Development and leasing fees</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">2,961</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">1,892</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">6,914</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4,103</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of revenue derived from management, development and leasing fees charged to unconsolidated joint ventures and third-party managed properties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfRevenuesFromUnconsolidatedJointVenturesAndThirdPartyManagedPropertiesTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>48
<FILENAME>R36.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6749978336">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock', window );">Compensation cost under the share and unit-based plans</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following summarizes the compensation cost under the share and unit-based plans:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:443px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:320px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:46px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:8px;" rowspan="1" colspan="1"></td><td style="width:45px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">17,399</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">15,228</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock awards</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">20</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">75</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock units</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,372</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">3,197</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Stock options</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">4</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Phantom stock units</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">604</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">311</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">21,399</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">18,815</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock', window );">Summary of activity of non-vested LTIP Units, stock awards, phantom stock and stock units</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the non-vested LTIP Units, stock awards, phantom stock units and stock units:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"><tr><td colspan="28" rowspan="1"></td></tr><tr><td style="width:165px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:56px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:50px;" rowspan="1" colspan="1"></td><td style="width:3px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">LTIP Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Awards</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Phantom Stock Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Units</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Shares</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56,315</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">73.24</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">132,086</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">74.58</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">480,371</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">65.00</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">14,534</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.42</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">85,045</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.24</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Vested</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(154,686</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">79.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(1,612</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">62.01</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(5,237</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.83</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(67,703</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">71.64</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Forfeited</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">382,000</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">60.47</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">9,297</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">80.20</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">149,428</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">78.55</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="3" rowspan="1"></td></tr><tr><td style="width:26px;" rowspan="1" colspan="1"></td><td style="width:373px;" rowspan="1" colspan="1"></td><td style="width:282px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average grant date fair value.</font></div></div><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock', window );">Summary of activity of SARs and stock options outstanding</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:left;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The following table summarizes the activity of the stock appreciations rights ("SARs") and stock options outstanding:</font></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:634px;border-collapse:collapse;text-align:left;"><tr><td colspan="14" rowspan="1"></td></tr><tr><td style="width:274px;" rowspan="1" colspan="1"></td><td style="width:82px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:76px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:82px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:76px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">SARs</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Stock Options</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Units</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">Value(1)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at January 1, 2016</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">417,783</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">55.13</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,314</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">58.15</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Granted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Exercised</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">(25,988</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">52.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Special dividend adjustment</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,185</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">251</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">Balance at March 31, 2016</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">401,980</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">53.88</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">10,565</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">56.77</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;padding-left:30px;text-indent:96px;font-size:9pt;"><font style="font-family:inherit;font-size:9pt;">(1)&#160;&#160;&#160;&#160;Value represents the weighted average exercise price.</font></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the changes in outstanding nonvested Long-Term Incentive Plan ("LTIP") units, stock awards, phantom stock and stock units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfShareBasedCompensationLTIPUnitsAwardActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>R37.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928827856">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes: (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of income tax benefit of TRSs</a></td>
<td class="text"><div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The income tax provision of the TRSs are as follows:</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:418px;border-collapse:collapse;text-align:left;"><tr><td colspan="8" rowspan="1"></td></tr><tr><td style="width:270px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:58px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td><td style="width:5px;" rowspan="1" colspan="1"></td><td style="width:9px;" rowspan="1" colspan="1"></td><td style="width:58px;" rowspan="1" colspan="1"></td><td style="width:4px;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#160;</font></div></td><td colspan="7" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">For the Three Months Ended March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2016</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;font-weight:bold;">2015</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Current</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Deferred</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-right:2px;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Income tax (expense) benefit </font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">(1,317</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">)</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">935</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div></div><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>nonnum:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>R38.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747255200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Organization: (Details) - entity<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NumberOfRealEstateManagementCompanies', window );">Number of management companies (in entities)</a></td>
<td class="nump">7<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember', window );">The Macerich Partnership, L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest in operating partnership (as a percent)</a></td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NumberOfRealEstateManagementCompanies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of management companies through which the entity provides property management, leasing and redevelopment for its real estate portfolio.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NumberOfRealEstateManagementCompanies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>R39.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762501248">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Details) - Operating Partnership - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets', window );">Operating partnership</a></td>
<td class="nump">$ 436,868<span></span>
</td>
<td class="nump">$ 436,204<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities', window );">Operating partnership</a></td>
<td class="nump">220,062<span></span>
</td>
<td class="nump">219,751<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=mac_RealEstateInvestmentPropertyNetMember', window );">Properties, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets', window );">Operating partnership</a></td>
<td class="nump">360,666<span></span>
</td>
<td class="nump">362,129<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherAssetsMember', window );">Other assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets', window );">Operating partnership</a></td>
<td class="nump">76,202<span></span>
</td>
<td class="nump">74,075<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=us-gaap_SecuredDebtMember', window );">Mortgage notes payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities', window );">Operating partnership</a></td>
<td class="nump">138,130<span></span>
</td>
<td class="nump">139,767<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherLiabilitiesMember', window );">Other liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityLineItems', window );"><strong>Variable Interest Entity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities', window );">Operating partnership</a></td>
<td class="nump">$ 81,932<span></span>
</td>
<td class="nump">$ 79,984<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of the consolidated Variable Interest Entity's assets included in the reporting entity's statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5710-111685<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityConsolidatedCarryingAmountAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of the consolidated Variable Interest Entity's liabilities included in the reporting entity's statement of financial position.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -URI http://asc.fasb.org/extlink&amp;oid=52262685&amp;loc=d3e5710-111685<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityConsolidatedCarryingAmountLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntityLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntityLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableInterestEntitiesByClassificationOfEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=mac_RealEstateInvestmentPropertyNetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=mac_RealEstateInvestmentPropertyNetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherAssetsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=us-gaap_OtherAssetsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=us-gaap_SecuredDebtMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=us-gaap_SecuredDebtMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BalanceSheetLocationAxis=us-gaap_OtherLiabilitiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BalanceSheetLocationAxis=us-gaap_OtherLiabilitiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>52
<FILENAME>R40.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750083712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Earnings per Share ("EPS"): (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract', window );"><strong>Numerator</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProfitLoss', window );">Net income</a></td>
<td class="nump">$ 451,375<span></span>
</td>
<td class="nump">$ 26,667<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest', window );">Net income attributable to noncontrolling interests</a></td>
<td class="num">(30,460)<span></span>
</td>
<td class="num">(2,056)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic', window );">Net income attributable to the Company</a></td>
<td class="nump">420,915<span></span>
</td>
<td class="nump">24,611<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted', window );">Allocation of earnings to participating securities</a></td>
<td class="num">(420)<span></span>
</td>
<td class="num">(148)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted', window );">Numerator for basic and diluted earnings per share&#8212;net income attributable to common stockholders</a></td>
<td class="nump">$ 420,495<span></span>
</td>
<td class="nump">$ 24,463<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Denominator</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Denominator for basic earnings per share&#8212;weighted average number of common shares outstanding (in shares)</a></td>
<td class="nump">151,984,000<span></span>
</td>
<td class="nump">158,336,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract', window );"><strong>Effect of dilutive securities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Share and unit-based compensation plans (in shares)</a></td>
<td class="nump">119,000<span></span>
</td>
<td class="nump">208,000<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Denominator for diluted earnings per share&#8212;weighted average number of common shares outstanding (in shares)</a></td>
<td class="nump">152,103,000<span></span>
</td>
<td class="nump">158,544,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract', window );"><strong>Earnings per common share&#8212;net income attributable to common stockholders:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in dollars per share)</a></td>
<td class="nump">$ 2.77<span></span>
</td>
<td class="nump">$ 0.15<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in dollars per share)</a></td>
<td class="nump">$ 2.76<span></span>
</td>
<td class="nump">$ 0.15<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PreferredNonparticipatingConvertibleUnitsMember', window );">Convertible non-participating preferred units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems', window );"><strong>Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Securities excluded from Diluted EPS (in shares)</a></td>
<td class="nump">138,759<span></span>
</td>
<td class="nump">140,490<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PartnershipUnitsMember', window );">Partnership unit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems', window );"><strong>Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Securities excluded from Diluted EPS (in shares)</a></td>
<td class="nump">10,820,343<span></span>
</td>
<td class="nump">10,516,523<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net Income (Loss) Available to Common Stockholders after Allocation to Participating Securities, Basic and Diluted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NetIncomeLossAvailabletoCommonStockholdersafterAllocationtoParticipatingSecuritiesBasicandDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Undistributed Earnings (Loss) Allocated to Participating Securities, Basic and Diluted</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDilutedAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDilutedAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of Net Income (Loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAttributableToNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 11<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1377-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProfitLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 45<br> -Paragraph 19<br> -URI http://asc.fasb.org/extlink&amp;oid=51664549&amp;loc=SL4569616-111683<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4K<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591552-111686<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1A<br> -Subparagraph (a),(c)<br> -URI http://asc.fasb.org/extlink&amp;oid=18733093&amp;loc=SL4573702-111684<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 55<br> -Paragraph 4J<br> -URI http://asc.fasb.org/extlink&amp;oid=35736750&amp;loc=SL4591551-111686<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProfitLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberDilutedSharesOutstandingAdjustmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PreferredNonparticipatingConvertibleUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PreferredNonparticipatingConvertibleUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PartnershipUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=mac_PartnershipUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>53
<FILENAME>R41.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6765658432">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures - Narrative (Details)<br> ft&#178; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 28, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 01, 2016 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Jan. 14, 2016 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Jan. 06, 2016 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Oct. 30, 2015 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Apr. 30, 2015 </div>
<div>USD ($) </div>
<div>store</div>
</th>
<th class="th">
<div>Feb. 17, 2015 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on remeasurement, sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (5)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember', window );">PPR Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Purchase price paid through assumption of debt by the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 713,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Proceeds from sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,258,643<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on remeasurement, sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">311,194<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsfromDivestitureofBusinessCash', window );">Proceeds from Divestiture of Business, Cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 545,643<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember', window );">PPR Portfolio | Lakewood Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,075<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember', window );">PPR Portfolio | Los Cerritos Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,296<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember', window );">PPR Portfolio | South Plains Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,127<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember', window );">PPR Portfolio | Washington Square</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,442<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,197<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Proceeds from sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 289,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on remeasurement, sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 104,293<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsfromDivestitureofBusinessCash', window );">Proceeds from Divestiture of Business, Cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">129,496<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt', window );">Proceeds from Divestiture of Business, Assumption of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 160,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember', window );">MAC Heitman Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Proceeds from sale</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 771,478<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on remeasurement, sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">340,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsfromDivestitureofBusinessCash', window );">Proceeds from Divestiture of Business, Cash</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">478,608<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt', window );">Proceeds from Divestiture of Business, Assumption of Debt</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 292,870<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember', window );">MAC Heitman Portfolio | Deptford Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,040<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember', window );">MAC Heitman Portfolio | FlatIron Crossing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,432<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember', window );">MAC Heitman Portfolio | Twenty Ninth Street</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">852<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember', window );">Inland Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage', window );">Additional ownership interest acquired (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 51,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesGross', window );">Purchase price funded by cash payment on acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">26,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfDebt', window );">Debt repaid</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Purchase price paid through assumption of debt by the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_SearsLocationsMember', window );">Sears Locations</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 150,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfStores', window );">Number of stores | store</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_JointVentureOwnershipPercentagePurchased', window );">Ownership percentage acquired</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_CountryClubPlazaMember', window );">Country Club Plaza</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,300<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 660,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Purchase price paid through assumption of debt by the Company</a></td>
<td class="nump">$ 320,000<span></span>
</td>
<td class="nump">$ 330,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.88%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination achieved in stages, this element represents the additional percentage of equity interests acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of gain or loss resulting from either the difference between the carrying value and the sales price or remeasurement of the carrying value of assets during the period, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting that was sold by the entity during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_JointVentureOwnershipPercentagePurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Joint Venture Ownership Percentage Purchased</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_JointVentureOwnershipPercentagePurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ProceedsfromDivestitureofBusinessAssumptionofDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from Divestiture of Business, Assumption of Debt</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ProceedsfromDivestitureofBusinessAssumptionofDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ProceedsfromDivestitureofBusinessCash">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Proceeds from Divestiture of Business, Cash</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ProceedsfromDivestitureofBusinessCash</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6578-128477<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6613-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfStores">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the number of stores.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfStores</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinesses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfBusinesses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RepaymentsOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RepaymentsOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PPRPortfolioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_LakewoodCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_LakewoodCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_LosCerritosCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_LosCerritosCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_SouthPlainsMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_SouthPlainsMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_WashingtonSquareMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_WashingtonSquareMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_DeptfordMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_DeptfordMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FlatIronCrossingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FlatIronCrossingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_TwentyNinthStreetMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_TwentyNinthStreetMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_SearsLocationsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_SearsLocationsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_CountryClubPlazaMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_CountryClubPlazaMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>54
<FILENAME>R42.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750125824">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsAbstract', window );"><strong>Assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet', window );">Properties, net</a></td>
<td class="nump">$ 9,246,945<span></span>
</td>
<td class="nump">$ 6,334,442<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets', window );">Other assets</a></td>
<td class="nump">621,668<span></span>
</td>
<td class="nump">507,718<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets', window );">Total assets</a></td>
<td class="nump">9,868,613<span></span>
</td>
<td class="nump">6,842,160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract', window );"><strong>Liabilities and partners' capital:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt', window );">Mortgage notes payable</a></td>
<td class="nump">4,926,654<span></span>
</td>
<td class="nump">3,607,588<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities', window );">Other liabilities</a></td>
<td class="nump">442,846<span></span>
</td>
<td class="nump">355,634<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets', window );">Company's capital</a></td>
<td class="nump">2,435,483<span></span>
</td>
<td class="nump">1,585,796<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests', window );">Outside partners' capital</a></td>
<td class="nump">2,063,630<span></span>
</td>
<td class="nump">1,293,142<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity', window );">Total liabilities and partners' capital</a></td>
<td class="nump">9,868,613<span></span>
</td>
<td class="nump">6,842,160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets', window );">Company's capital</a></td>
<td class="nump">2,435,483<span></span>
</td>
<td class="nump">1,585,796<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity', window );">Basis adjustment</a></td>
<td class="num">(611,962)<span></span>
</td>
<td class="num">(77,701)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsNet', window );">Investments in unconsolidated joint ventures</a></td>
<td class="nump">1,823,521<span></span>
</td>
<td class="nump">1,508,095<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Assets&#8212;Investments in unconsolidated joint ventures</a></td>
<td class="nump">1,844,516<span></span>
</td>
<td class="nump">1,532,552<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_InvestmentsInUnconsolidatedJointVentures', window );">Liabilities&#8212;Distributions in excess of investments in unconsolidated joint ventures</a></td>
<td class="num">$ (20,995)<span></span>
</td>
<td class="num">$ (24,457)<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of equity (capital) of an equity method investment of the entity that is attributable to other ownership interests.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationEquityOrCapitalOtherInterests</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate carrying amount of other assets not separately disclosed, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate carrying amount of other liabilities not separately disclosed, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationOtherLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net book value of real estate investment property reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationRealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationSecuredDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee, net of the liability for distributions received in excess of the entity's investment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_InvestmentsInUnconsolidatedJointVentures">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying amount of liabilities resulting from investments in unconsolidated real estate and joint ventures not separately presented as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_InvestmentsInUnconsolidatedJointVentures</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and amount of underlying equity in net assets the reporting Entity has in the investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33912-111571<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph w<br> -Article 1<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph bb<br> -Article 1<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph g<br> -Subparagraph 1, 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities and equity reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33912-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph bb<br> -Article 1<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph g<br> -Subparagraph 1, 2<br> -Article 4<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph w<br> -Article 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilitiesAndEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's ownership percentage in the investee multiplied by the investee's total equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentUnderlyingEquityInNetAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>55
<FILENAME>R43.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750400368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures - Balance Sheet Footnotes (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets', window );">Total assets</a></td>
<td class="nump">$ 9,868,613<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,842,160<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GuaranteeObligationsMaximumExposure', window );">Mortgage notes payable that could become recourse debt to the Company</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty', window );">Indemnity of guaranteed amount</a></td>
<td class="nump">2,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity', window );">Amortization of difference between cost of investments and book value of underlying equity</a></td>
<td class="nump">4,457<span></span>
</td>
<td class="nump">$ 420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember', window );">Northwestern Mutual Life (NML)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentNotesPayableRelatedParty', window );">Mortgage notes payable to affiliate</a></td>
<td class="nump">458,843<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">460,872<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty', window );">Interest expense on borrowings from related party</a></td>
<td class="nump">6,366<span></span>
</td>
<td class="nump">$ 8,508<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_PacificPremierRetailLLCMember', window );">Pacific Premier Retail LLC [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems', window );"><strong>Investments in unconsolidated joint ventures:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets', window );">Total assets</a></td>
<td class="nump">3,258,293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,283,702<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities', window );">Total liabilities</a></td>
<td class="nump">$ 1,919,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,938,241<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The item represents the amortization during the period of the difference between the amount at which an investment accounted for under the equity method of accounting is carried (reported) on the balance sheet and the amount of underlying equity in net assets the reporting Entity has in the investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentAmortizationOfDifferenceBetweenCarryingAmountAndUnderlyingEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentNotesPayableRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable due to related parties reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentNotesPayableRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of interest expense on a debt or other obligation to a related party reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpenseRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GuaranteeObligationsExposureIndemnifiedByThirdParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of the amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees that is indemnified by a third party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GuaranteeObligationsExposureIndemnifiedByThirdParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of assets reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33912-111571<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph w<br> -Article 1<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph bb<br> -Article 1<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph g<br> -Subparagraph 1, 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of liabilities reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33912-111571<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph g<br> -Subparagraph 1, 2<br> -Article 4<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph w<br> -Article 1<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph bb<br> -Article 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GuaranteeObligationsMaximumExposure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee or each group of similar guarantees before reduction for potential recoveries under recourse or collateralization provisions.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6851643&amp;loc=d3e12069-110248<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GuaranteeObligationsMaximumExposure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_PacificPremierRetailLLCMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_PacificPremierRetailLLCMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R44.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762207728">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue', window );">Minimum rents</a></td>
<td class="nump">$ 136,956<span></span>
</td>
<td class="nump">$ 67,522<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent', window );">Percentage rents</a></td>
<td class="nump">2,512<span></span>
</td>
<td class="nump">1,623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements', window );">Tenant recoveries</a></td>
<td class="nump">55,419<span></span>
</td>
<td class="nump">32,363<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue', window );">Other</a></td>
<td class="nump">13,190<span></span>
</td>
<td class="nump">7,590<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue', window );">Total revenues</a></td>
<td class="nump">208,077<span></span>
</td>
<td class="nump">109,098<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue', window );">Shopping center and operating expenses</a></td>
<td class="nump">63,084<span></span>
</td>
<td class="nump">42,178<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense', window );">Interest expense</a></td>
<td class="nump">42,952<span></span>
</td>
<td class="nump">20,383<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">84,617<span></span>
</td>
<td class="nump">29,670<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">190,653<span></span>
</td>
<td class="nump">92,231<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss', window );">Net (loss) income</a></td>
<td class="nump">17,419<span></span>
</td>
<td class="nump">16,867<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Company's equity in net (loss) income</a></td>
<td class="nump">11,660<span></span>
</td>
<td class="nump">8,274<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_PacificPremierRetailLPMember', window );">Pacific Premier Retail LLC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue', window );">Minimum rents</a></td>
<td class="nump">30,583<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent', window );">Percentage rents</a></td>
<td class="nump">759<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements', window );">Tenant recoveries</a></td>
<td class="nump">11,976<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue', window );">Other</a></td>
<td class="nump">2,838<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue', window );">Total revenues</a></td>
<td class="nump">46,156<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue', window );">Shopping center and operating expenses</a></td>
<td class="nump">9,786<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense', window );">Interest expense</a></td>
<td class="nump">15,214<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">28,084<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">53,084<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss', window );">Net (loss) income</a></td>
<td class="num">(6,928)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Company's equity in net (loss) income</a></td>
<td class="num">(1,244)<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_OtherJointVenturesMember', window );">Other Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenues:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue', window );">Minimum rents</a></td>
<td class="nump">106,373<span></span>
</td>
<td class="nump">67,522<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent', window );">Percentage rents</a></td>
<td class="nump">1,753<span></span>
</td>
<td class="nump">1,623<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements', window );">Tenant recoveries</a></td>
<td class="nump">43,443<span></span>
</td>
<td class="nump">32,363<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue', window );">Other</a></td>
<td class="nump">10,352<span></span>
</td>
<td class="nump">7,590<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue', window );">Total revenues</a></td>
<td class="nump">161,921<span></span>
</td>
<td class="nump">109,098<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>Expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue', window );">Shopping center and operating expenses</a></td>
<td class="nump">53,298<span></span>
</td>
<td class="nump">42,178<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense', window );">Interest expense</a></td>
<td class="nump">27,738<span></span>
</td>
<td class="nump">20,383<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization', window );">Depreciation and amortization</a></td>
<td class="nump">56,533<span></span>
</td>
<td class="nump">29,670<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses', window );">Total operating expenses</a></td>
<td class="nump">137,569<span></span>
</td>
<td class="nump">92,231<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss', window );">Net (loss) income</a></td>
<td class="nump">24,347<span></span>
</td>
<td class="nump">16,867<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromEquityMethodInvestments', window );">Company's equity in net (loss) income</a></td>
<td class="nump">$ 12,904<span></span>
</td>
<td class="nump">$ 8,274<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the total of the costs related to real estate revenues reported for the period by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationCostOfRealEstateRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings for depreciation and amortization on long-lived, physical assets not used in production, and which are not intended for resale, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationDepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of gain or loss resulting from either the difference between the carrying value and the sales price or remeasurement of the carrying value of assets during the period, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cost of borrowed funds accounted for as interest that was charged against earnings during the period by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationInterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationMinimumLeaseRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations for the period reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationOperatingExpenses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The sum of all other revenue and income for the period reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationOtherRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationPercentageRent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents allowable charges due a landlord from its tenant for the period, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationTenantReimbursements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33912-111571<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph bb<br> -Article 1<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph w<br> -Article 1<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 08<br> -Paragraph g<br> -Subparagraph 1, 2<br> -Article 4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of revenue from sale of goods and services reduced by sales returns, allowances, and discounts reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 205<br> -SubTopic 20<br> -Section 50<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=51717284&amp;loc=SL51721683-107760<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestmentSummarizedFinancialInformationRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 9<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 11<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_PacificPremierRetailLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_PacificPremierRetailLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_OtherJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=mac_OtherJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R45.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6926633808">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property, net: (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentAbstract', window );"><strong>Property, Plant and Equipment [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Land', window );">Land</a></td>
<td class="nump">$ 1,658,466<span></span>
</td>
<td class="nump">$ 1,894,717<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentBuildingAndBuildingImprovements', window );">Buildings and improvements</a></td>
<td class="nump">6,595,692<span></span>
</td>
<td class="nump">7,752,892<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TenantImprovements', window );">Tenant improvements</a></td>
<td class="nump">573,863<span></span>
</td>
<td class="nump">637,355<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FixturesAndEquipmentGross', window );">Equipment and furnishings</a></td>
<td class="nump">161,891<span></span>
</td>
<td class="nump">169,841<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DevelopmentInProcess', window );">Construction in progress</a></td>
<td class="nump">264,431<span></span>
</td>
<td class="nump">234,851<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyAtCost', window );">Total</a></td>
<td class="nump">9,254,343<span></span>
</td>
<td class="nump">10,689,656<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation', window );">Less accumulated depreciation</a></td>
<td class="num">(1,727,691)<span></span>
</td>
<td class="num">(1,892,744)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateInvestmentPropertyNet', window );">Property, net</a></td>
<td class="nump">$ 7,526,652<span></span>
</td>
<td class="nump">$ 8,796,912<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DevelopmentInProcess">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current amount of expenditures for a real estate project that has not yet been completed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.10)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Phase<br> -URI http://asc.fasb.org/extlink&amp;oid=49177889<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DevelopmentInProcess</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FixturesAndEquipmentGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation of fixtures and equipment. Includes, but is not limited to, machinery, equipment, and engines.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FixturesAndEquipmentGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentBuildingAndBuildingImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate of the carrying amounts as of the balance sheet date of investments in building and building improvements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentBuildingAndBuildingImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Land">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depletion of real estate held for productive use, excluding land held for sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Subparagraph (e)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6812-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Land</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of depreciation for real estate property held for investment purposes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyAtCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyAtCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateInvestmentPropertyNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateInvestmentPropertyNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TenantImprovements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.1(f))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_TenantImprovements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>58
<FILENAME>R46.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6763264144">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property, net - Narrative (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 14, 2016</div></th>
<th class="th"><div>Jan. 06, 2016</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationNonproduction', window );">Depreciation expenses</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 69,903<span></span>
</td>
<td class="nump">$ 90,197<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(5)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GainLossOnLandSales', window );">Land sales</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,412<span></span>
</td>
<td class="nump">1,056<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1', window );">Adjustment to contingent consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(12,294)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_LossonSaleorWriteDownofAssets', window );">Loss on Sale or Write-Down of Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(121)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_WriteOffOfDevelopmentCost', window );">Development cost</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">696<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_GainLossonSaleorWriteDownofAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">434,456<span></span>
</td>
<td class="nump">$ 935<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 104,293<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember', window );">MAC Heitman Portfolio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property, Plant and Equipment [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets', window );">Gain on sale or write down of assets, net</a></td>
<td class="nump">$ 340,741<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="nump">49.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of gain or loss resulting from either the difference between the carrying value and the sales price or remeasurement of the carrying value of assets during the period, reported by an equity method investment of the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentSummarizedFinancialInformationGainLossOnSaleAndRemeasurementOfAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting that was sold by the entity during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GainLossOnLandSales">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) On Land Sales</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GainLossOnLandSales</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_GainLossonSaleorWriteDownofAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gain (Loss) on Sale or Write Down of Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_GainLossonSaleorWriteDownofAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_LossonSaleorWriteDownofAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Loss on Sale or Write-Down of Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_LossonSaleorWriteDownofAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_WriteOffOfDevelopmentCost">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the development cost written off during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_WriteOffOfDevelopmentCost</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in the value of a contingent consideration liability, including, but not limited to, differences arising upon settlement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e7008-128479<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationNonproduction">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationNonproduction</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_MACHeitmanPortfolioMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>59
<FILENAME>R47.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750071952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Tenant and Other Receivables, net: (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Mar. 17, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Components of tenant and other receivables, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables', window );">Allowance for doubtful accounts</a></td>
<td class="nump">$ 2,684,000<span></span>
</td>
<td class="nump">$ 3,072,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRentReceivablesNet', window );">Deferred rent receivable due to straight-line rent adjustments</a></td>
<td class="nump">54,079,000<span></span>
</td>
<td class="nump">60,790,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_AccruedIncomeReceivableMember', window );">Accrued percentage rents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Components of tenant and other receivables, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableGross', window );">Accounts receivable</a></td>
<td class="nump">1,157,000<span></span>
</td>
<td class="nump">10,940,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_NoteReceivable1Member', window );">6.5% Note Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesAndLoansReceivableLineItems', window );"><strong>Components of tenant and other receivables, net</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableGross', window );">Notes receivable</a></td>
<td class="nump">$ 6,331,000<span></span>
</td>
<td class="nump">$ 6,351,000<span></span>
</td>
<td class="nump">$ 6,500,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NotesReceivableInterestRate', window );">Note receivable, interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6.50%<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NotesReceivableInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The stated interest rate on the note receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NotesReceivableInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesAndLoansReceivableLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesAndLoansReceivableLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For unclassified balance sheet, amounts due from customers or clients for goods or services that have been delivered or sold in the normal course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 3<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49124121&amp;loc=d3e5074-111524<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),5)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRentReceivablesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 35<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6453741&amp;loc=d3e40879-112712<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39927-112707<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.8)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39896-112707<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredRentReceivablesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount representing an agreement for an unconditional promise by the maker to pay the entity (holder) a definite sum of money at a future date. Such amount may include accrued interest receivable in accordance with the terms of the note. The note also may contain provisions and related items including a discount or premium, payable on demand, secured, or unsecured, interest bearing or noninterest bearing, among a myriad of other features and characteristics. Excludes amounts related to receivables held-for-sale.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.10(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_AccruedIncomeReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_AccruedIncomeReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_NoteReceivable1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_NoteReceivable1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>60
<FILENAME>R48.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6763356816">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Deferred Charges and Other Assets, net: (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract', window );"><strong>Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCostsLeasingGross', window );">Leasing</a></td>
<td class="nump">$ 224,302<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 248,709<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract', window );"><strong>Intangible assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases', window );">In-place lease values</a></td>
<td class="nump">159,057<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">196,969<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts', window );">Leasing commissions and legal costs</a></td>
<td class="nump">37,556<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_FiniteLivedIntangibleAssetAboveMarketLeases', window );">Above-market leases</a></td>
<td class="nump">210,733<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">220,847<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Deferred tax assets</a></td>
<td class="nump">37,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">38,847<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCompensationPlanAssets', window );">Deferred compensation plan assets</a></td>
<td class="nump">37,818<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,341<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsMiscellaneous', window );">Other assets</a></td>
<td class="nump">53,363<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">70,070<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DeferredCostsAndOtherAssetsGross', window );">Deferred charges and other assets, gross</a></td>
<td class="nump">760,420<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">864,783<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets', window );">Less accumulated amortization</a></td>
<td class="num">(255,256)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(300,492)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DeferredCostsAndOtherAssetsNet', window );">Deferred charges and other assets, net</a></td>
<td class="nump">505,164<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">564,291<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Accumulated amortization for intangible assets</a></td>
<td class="nump">84,501<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 109,453<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization expense for intangible assets</a></td>
<td class="nump">$ 8,847<span></span>
</td>
<td class="nump">$ 21,678<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The accumulated amount of amortization related to deferred costs capitalized at the end of the reporting period and finite-lived intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_AccumulatedAmortizationDeferredCostsAndFiniteLivedIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DeferredCostsAndOtherAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the gross carrying amounts before accumulated amortization of deferred costs that are expected to be recognized as a charge against future earnings plus assets not otherwise specified in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DeferredCostsAndOtherAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DeferredCostsAndOtherAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against future earnings plus assets not otherwise specified in the taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DeferredCostsAndOtherAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_FiniteLivedIntangibleAssetAboveMarketLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross carrying amount before accumulated amortization as of the balance sheet date of the intangible asset for leases acquired as part of a real property acquisition at above market lease rate.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_FiniteLivedIntangibleAssetAboveMarketLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross carrying amount before accumulated amortization as of the balance sheet date of capitalized leasing commissions and lease-related legal costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_FiniteLivedIntangibleAssetLeasingCommissionsAndLegalCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCompensationPlanAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying amount as of the balance sheet date of assets held under deferred compensation agreements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCompensationPlanAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCostsLeasingGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, this element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This amount is before considering accumulated amortization representing the periodic charge to earnings to recognize the deferred costs over the term of the related lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=6748888&amp;loc=d3e40588-112709<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 25<br> -Paragraph 17<br> -URI http://asc.fasb.org/extlink&amp;oid=6748888&amp;loc=d3e40246-112709<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCostsLeasingGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, before jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetAcquiredInPlaceLeases</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsGrossAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsGrossAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsMiscellaneous">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other miscellaneous assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherAssetsMiscellaneous</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6749872832">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Deferred Charges and Other Assets, net - Allocated Values (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems', window );"><strong>Allocated values of leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Less accumulated amortization</a></td>
<td class="num">$ (84,501)<span></span>
</td>
<td class="num">$ (109,453)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_AboveMarketLeasesMember', window );">Above-Market Leases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems', window );"><strong>Allocated values of leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsGross', window );">Original allocated value</a></td>
<td class="nump">210,733<span></span>
</td>
<td class="nump">220,847<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Less accumulated amortization</a></td>
<td class="num">(70,277)<span></span>
</td>
<td class="num">(73,520)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsNet', window );">Allocated value net</a></td>
<td class="nump">140,456<span></span>
</td>
<td class="nump">147,327<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=mac_BelowMarketLeaseMember', window );">Below-Market Leases</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems', window );"><strong>Allocated values of leases</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseGross', window );">Original allocated value</a></td>
<td class="nump">202,454<span></span>
</td>
<td class="nump">227,063<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseAccumulatedAmortization', window );">Less accumulated amortization</a></td>
<td class="num">(91,718)<span></span>
</td>
<td class="num">(101,872)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BelowMarketLeaseNet', window );">Below Market Lease, Net</a></td>
<td class="nump">$ 110,736<span></span>
</td>
<td class="nump">$ 125,191<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcquiredFiniteLivedIntangibleAssetsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BelowMarketLeaseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BelowMarketLeaseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_AboveMarketLeasesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=us-gaap_AboveMarketLeasesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=mac_BelowMarketLeaseMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis=mac_BelowMarketLeaseMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>62
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6765269952">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Jan. 06, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">$ 179,935<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 181,069<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">3,732,114<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,427,518<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221,194<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">4.05%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_ChandlerFashionCenterMortgageMember', window );">Chandler Fashion Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 199,784<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">199,766<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.77%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_DanburyFairMallMortgageMember', window );">Danbury Fair Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">110,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111,078<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 110,307<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">111,079<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">5.53%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,538<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember', window );">Deptford Mall One</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">193,337<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageTwoMember', window );">Deptford Mall Two</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,999<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsOfChicagoMortgageMember', window );">Fashion Outlets of Chicago</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 198,688<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">198,653<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">2.10%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 323<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember', window );">Fashion Outlets of Niagara Falls USA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 117,903<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">117,708<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.89%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 727<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FlagstaffMallMortgageMember', window );">Flagstaff Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 37,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">37,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">8.97%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 153<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FlatIronCrossingMortgageMember', window );">FlatIron Crossing</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">254,075<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FreeholdRacewayMallMortgageMember', window );">Freehold Raceway Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 223,805<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">224,836<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,132<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_GreenAcresMallMortgageMember', window );">Green Acres Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 302,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">303,960<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.61%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,447<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_KingsPlazaMortgageMember', window );">Kings Plaza</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 463,952<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">466,266<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.67%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 2,229<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember', window );">The Mall at Northgate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 63,777<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 63,783<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.32%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 143<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_TheOaksOneMortgageMember', window );">The Oaks</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 204,492<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">205,555<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.14%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,064<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_PacificViewMortgageMember', window );">Pacific View</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 129,419<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130,108<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.08%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 668<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_QueensCenterMember', window );">Queens Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 600,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">600,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.49%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,744<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_SantaMonicaPlaceMortgageMember', window );">Santa Monica Place</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 223,509<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">224,815<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">2.99%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,004<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_SanTanVillageRegionalCenterMortgageMember', window );">SanTan Village Regional Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 129,911<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">130,638<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.14%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 589<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember', window );">Stonewood Center Mortgage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 104,023<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">105,494<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">1.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 640<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember', window );">Superstition Springs Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 67,674<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 67,749<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">2.26%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.17%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_TowneMallMortgageMember', window );">Towne Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 21,860<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,956<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.48%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 117<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_TucsonLaEncantadaMortgageMember', window );">Tucson La Encantada</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">69,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">69,991<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.23%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 368<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_MallOfVictorValleyMortgageMember', window );">Mall of Victor Valley</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 114,515<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">114,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 380<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_VintageFaireMallMortgageMember', window );">Vintage Faire Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 273,125<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">274,417<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">3.55%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 1,255<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_WestsidePavilionMortgageMember', window );">Westside Pavilion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent', window );">Carrying Amount of Mortgage Notes, Related Party</a></td>
<td class="nump">0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SecuredDebtNonrelatedParty', window );">Carrying Amount of Mortgage Notes, Other</a></td>
<td class="nump">$ 145,942<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 146,630<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.49%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentPeriodicPayment', window );">Monthly Debt Service</a></td>
<td class="nump">$ 783<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SecuredDebtNonrelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations such as mortgage loans.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SecuredDebtNonrelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentPeriodicPayment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the required periodic payments including both interest and principal payments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 470<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentPeriodicPayment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount for notes payable (written promise to pay), due to related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableRelatedPartiesCurrentAndNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_ChandlerFashionCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_ChandlerFashionCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_DanburyFairMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_DanburyFairMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsOfChicagoMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FashionOutletsOfChicagoMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FlagstaffMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FlagstaffMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FlatIronCrossingMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FlatIronCrossingMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FreeholdRacewayMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FreeholdRacewayMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_GreenAcresMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_GreenAcresMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_KingsPlazaMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_KingsPlazaMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_TheOaksOneMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_TheOaksOneMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_PacificViewMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_PacificViewMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_QueensCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_QueensCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_SantaMonicaPlaceMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_SantaMonicaPlaceMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_SanTanVillageRegionalCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_SanTanVillageRegionalCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_TowneMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_TowneMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_TucsonLaEncantadaMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_TucsonLaEncantadaMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_MallOfVictorValleyMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_MallOfVictorValleyMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_VintageFaireMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_VintageFaireMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_WestsidePavilionMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_WestsidePavilionMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>63
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6750132096">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Mortgage Notes Payable - Premiums and Discounts (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet', window );">Debt premiums (discounts), net</a></td>
<td class="nump">$ 8,905<span></span>
</td>
<td class="nump">$ 18,408<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedPremium', window );">Debt premiums</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">8,494<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember', window );">Deptford Mall One</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedDiscount', window );">Debt discounts</a></td>
<td class="nump">0<span></span>
</td>
<td class="num">(3)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember', window );">Fashion Outlets of Niagara Falls USA</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedPremium', window );">Debt premiums</a></td>
<td class="nump">4,254<span></span>
</td>
<td class="nump">4,486<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember', window );">Stonewood Center Mortgage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedPremium', window );">Debt premiums</a></td>
<td class="nump">4,467<span></span>
</td>
<td class="nump">5,168<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember', window );">Superstition Springs Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentUnamortizedPremium', window );">Debt premiums</a></td>
<td class="nump">$ 184<span></span>
</td>
<td class="nump">$ 263<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt discount (net of debt premium) that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28567-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentUnamortizedPremium">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt premium that was originally recognized at the issuance of the instrument that has yet to be amortized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 1A<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentUnamortizedPremium</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_DeptfordMallMortgageOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_FashionOutletsAtNiagaraMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_StonewoodCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>64
<FILENAME>R52.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747057808">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Mortgage Notes Payable - Footnotes (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jan. 06, 2016</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Unamortized deferred finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,182<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 16,025<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on early extinguishment of debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,453<span></span>
</td>
<td class="nump">$ 2,245<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_MortgageNotesPayableProbableRecourseAmount', window );">Mortgage notes payable which could become recourse</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">13,500<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestCostsCapitalized', window );">Interest expense capitalized</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,303<span></span>
</td>
<td class="nump">$ 2,629<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableFairValueDisclosure', window );">Fair value of mortgage notes payable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,951,798<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,628,781<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Face amount of debt</a></td>
<td class="nump">$ 400,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="nump">4.05%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Loss on early extinguishment of debt, net</a></td>
<td class="num">$ (3,575)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_PercentageOfLoanAssumedByThirdParty', window );">Percentage of loan assumed by third party (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember', window );">The Mall at Northgate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.32%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3.30%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over basis (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember', window );">Superstition Springs Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage', window );">Effective interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.26%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.17%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over basis (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember', window );">Freehold Raceway Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_PercentageOfLoanAssumedByThirdParty', window );">Percentage of loan assumed by third party (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">49.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember', window );">Arrowhead Towne Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_PercentageOfLoanAssumedByThirdParty', window );">Percentage of loan assumed by third party (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold', window );">Ownership interest sold (as a percent)</a></td>
<td class="nump">40.00%<span></span>
</td>
<td class="nump">40.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting that was sold by the entity during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_EquityMethodInvestmentsPercentageOfOwnershipInterestSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_MortgageNotesPayableProbableRecourseAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the amount of mortgage notes payable which could become recourse to the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_MortgageNotesPayableProbableRecourseAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_PercentageOfLoanAssumedByThirdParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Portion of the loan assumed by a third party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_PercentageOfLoanAssumedByThirdParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFaceAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face (par) amount of debt instrument at time of issuance.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 55<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=34725769&amp;loc=d3e28878-108400<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFaceAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateEffectivePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateEffectivePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestCostsCapitalized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest capitalized during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Allowance for Funds Used during Construction<br> -URI http://asc.fasb.org/extlink&amp;oid=6504829<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestCostsCapitalized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableFairValueDisclosure">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of notes payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20,22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesPayableFairValueDisclosure</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_ArrowheadTowneCenterMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_TheMallAtNorthgateMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_SuperstitionSpringsCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_ArrowheadTowneCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>65
<FILENAME>R53.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747455072">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Bank and Other Notes Payable: (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 29, 2013</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Unamortized deferred finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 13,182,000<span></span>
</td>
<td class="nump">$ 16,025,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember', window );">Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity', window );">Revolving line of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis', window );">Interest rate basis</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">LIBOR<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCredit', window );">Outstanding borrowings under the line of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 745,000,000<span></span>
</td>
<td class="nump">650,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredFinanceCostsNet', window );">Unamortized deferred finance costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,299,000<span></span>
</td>
<td class="nump">$ 6,967,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod', window );">Line of credit, average interest rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.11%<span></span>
</td>
<td class="nump">1.95%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding', window );">Fair value of outstanding line of credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 739,417,000<span></span>
</td>
<td class="nump">$ 640,260,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentAxis=mac_PrasadaNoteMember', window );">Prasada Note</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfDebt', window );">Amount of additional borrowing</a></td>
<td class="nump">$ 13,330,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentInterestRateStatedPercentage', window );">Interest rate on debt (as a percent)</a></td>
<td class="nump">5.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentCarryingAmount', window );">Debt, carrying value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,218,000<span></span>
</td>
<td class="nump">9,130,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFairValue', window );">Debt, fair value</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 8,244,000<span></span>
</td>
<td class="nump">$ 9,168,000<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember', window );">London Interbank Offered Rate (LIBOR) | Line of Credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over basis (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember', window );">London Interbank Offered Rate (LIBOR) | Line of Credit | Low end of range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over basis (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.38%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember', window );">London Interbank Offered Rate (LIBOR) | Line of Credit | High end of range</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentLineItems', window );"><strong>Mortgage loans payable on real estate</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1', window );">Interest rate spread over basis (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentBasisSpreadOnVariableRate1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentCarryingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 20<br> -Article 5<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 16<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentCarryingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentDescriptionOfVariableRateBasis">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentDescriptionOfVariableRateBasis</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value portion of debt instrument payable, including, but not limited to, notes payable and loans payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13476-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentInterestRateStatedPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Contractual interest rate for funds borrowed, under the debt agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.22(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentInterestRateStatedPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredFinanceCostsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28555-108399<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredFinanceCostsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCredit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.16)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 19, 20, 22<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCredit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of the amount outstanding under the credit facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 10<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13476-108611<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityFairValueOfAmountOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityInterestRateDuringPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The effective interest rate during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityInterestRateDuringPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(b),22(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromIssuanceOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_PrasadaNoteMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_PrasadaNoteMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>66
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928772192">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Co-Venture Arrangement: (Details)<br> ft&#178; in Thousands, $ in Thousands</strong></div></th>
<th class="th">
<div>Sep. 30, 2009 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfJointVenturesLineItems', window );"><strong>Co-Venture Arrangement:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Co-venture obligation | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 61,940<span></span>
</td>
<td class="nump">$ 63,756<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallAndChandlerFashionCenterMember', window );">Freehold Raceway Mall and Chandler Fashion Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfJointVenturesLineItems', window );"><strong>Co-Venture Arrangement:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_JointVentureOwnershipPercentageSold', window );">Percentage of loan assumed by third party (as a percent)</a></td>
<td class="nump">49.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredGainOnSaleOfProperty', window );">Co-venture obligation | $</a></td>
<td class="nump">$ 168,154<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember', window );">Freehold Raceway Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfJointVenturesLineItems', window );"><strong>Co-Venture Arrangement:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="nump">1,670<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_ChandlerFashionCenterMember', window );">Chandler Fashion Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ScheduleOfJointVenturesLineItems', window );"><strong>Co-Venture Arrangement:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="nump">1,319<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_JointVentureOwnershipPercentageSold">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The percentage of ownership interest in the joint venture sold by the entity during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_JointVentureOwnershipPercentageSold</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ScheduleOfJointVenturesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>-- None. No documentation exists for this element. --</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ScheduleOfJointVenturesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredGainOnSaleOfProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of gain on the sale of property that does not qualify for gain recognition as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 605<br> -SubTopic 40<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 5.U.Q2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6955272&amp;loc=d3e221323-122791<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredGainOnSaleOfProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallAndChandlerFashionCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallAndChandlerFashionCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FreeholdRacewayMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_ChandlerFashionCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_ChandlerFashionCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>67
<FILENAME>R55.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928885248">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Noncontrolling Interests: (Details) - USD ($)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
<th class="th"><div>Aug. 17, 2012</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners', window );">Limited partnership interest of the operating partnership (as a percent)</a></td>
<td class="nump">7.00%<span></span>
</td>
<td class="nump">7.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays', window );">Number of trading days used to calculate redemption value (in days)</a></td>
<td class="text">10 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_MinorityInterestRedemptionValue', window );">Redemption value of outstanding OP Units not owned by the Company</a></td>
<td class="nump">$ 860,925<span></span>
</td>
<td class="nump">$ 870,625<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember', window );">The Macerich Partnership, L.P.</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Subsidiary of Limited Liability Company or Limited Partnership [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_MinorityInterestOwnershipPercentageByParent', window );">Ownership interest in operating partnership (as a percent)</a></td>
<td class="nump">93.00%<span></span>
</td>
<td class="nump">93.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_MinorityInterestRedemptionValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the aggregate redemption value for the noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_MinorityInterestRedemptionValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Minority Interest, Redemption Value Basis Number of Trading Days</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_MinorityInterestRedemptionValueBasisNumberOfTradingDays</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_MinorityInterestOwnershipPercentageByParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The parent entity's interest in net assets of the subsidiary, expressed as a percentage.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_MinorityInterestOwnershipPercentageByParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LegalEntityAxis=mac_TheMacerichPartnershipLPMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>68
<FILENAME>R56.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747118928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Stockholders' Equity (Details)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">2 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Apr. 26, 2016 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Apr. 19, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Feb. 22, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 19, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Nov. 13, 2015 </div>
<div>USD ($) </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 30, 2015 </div>
<div>dividend </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Apr. 19, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 20, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($) </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Feb. 17, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Dec. 31, 2015 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Sep. 30, 2015 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 20, 2014 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Aug. 17, 2012 </div>
<div>$ / shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockRepurchaseProgramAuthorizedAmount1', window );">Authorized repurchase amount | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,200,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt', window );">Authorized amount for accelerated stock repurchase program | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 400,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased', window );">Accelerated shares repurchased, number of shares purchased (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,222,193<span></span>
</td>
<td class="nump">970,609<span></span>
</td>
<td class="nump">4,140,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,111,397<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare', window );">Average price per share paid for stock repurchased for accelerated stock repurchases (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 78.26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NumberOfDividendsDeclared', window );">Number of dividends declared | dividend</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividend declared (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockParOrStatedValuePerShare', window );">Common stock, par value (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_MaximumAggregateCommonStockOfferPrice', window );">Maximum price of common stock available to be issued | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 500,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_PercentageOfCommissionToSalesAgent', window );">Commission to sales agent (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2.00%<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent event</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ClassOfStockLineItems', window );"><strong>Class of Stock [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased', window );">Accelerated shares repurchased, number of shares purchased (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">861,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,083,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare', window );">Average price per share paid for stock repurchased for accelerated stock repurchases (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 78.69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividend declared (in dollars per share)</a></td>
<td class="nump">$ 0.68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accelerated Share Repurchase Program, Number of Shares Purchased</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_MaximumAggregateCommonStockOfferPrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum Aggregate Common Stock Offer Price</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_MaximumAggregateCommonStockOfferPrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NumberOfDividendsDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number Of Dividends Declared</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NumberOfDividendsDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_PercentageOfCommissionToSalesAgent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the maximum percentage of commission to each sales agent of the proceeds from sales of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_PercentageOfCommissionToSalesAgent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Final price paid per share for the purchase of the targeted number of shares, determined by an average market price over a fixed period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 25<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6405686&amp;loc=d3e22802-112653<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash receipt from (payment to) bank; or stock received from (issuance to) bank in the settlement of the accelerated share repurchase agreement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 25<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6405686&amp;loc=d3e22802-112653<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcceleratedShareRepurchasesSettlementPaymentOrReceipt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfStockLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ClassOfStockLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockRepurchaseProgramAuthorizedAmount1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of stock repurchase plan authorized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockRepurchaseProgramAuthorizedAmount1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>69
<FILENAME>R57.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747159888">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions - Narrative (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Feb. 17, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FashionOutletsOfChicagoMember', window );">Fashion Outlets of Chicago | Affiliated Entity</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 69,987<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesGross', window );">Purchase price funded by cash payment on acquisition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">55,867<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Purchase price paid through assumption of debt by the Company</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 14,120<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationContingentConsiderationLiability', window );">Contingent consideration</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,459<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AcquisitionNoncontrollingInterestAdjustment', window );">Acquisition noncontrolling interest adjustment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 76,141<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember', window );">Inland Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="nump">$ 51,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireBusinessesGross', window );">Purchase price funded by cash payment on acquisition</a></td>
<td class="nump">26,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Purchase price paid through assumption of debt by the Company</a></td>
<td class="nump">$ 25,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage', window );">Additional ownership interest acquired (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired', window );">Ownership interest at completion of acquisition (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_AcquisitionNoncontrollingInterestAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Acquisition Noncontrolling Interest Adjustment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_AcquisitionNoncontrollingInterestAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination achieved in stages, this element represents the additional percentage of equity interests acquired.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationStepAcquisitionAdditionalEquityInterestAcquiredPercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of voting equity interests acquired at the acquisition date in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6578-128477<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6613-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationContingentConsiderationLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized arising from contingent consideration in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 35<br> -Paragraph 1<br> -Subparagraph b<br> -URI http://asc.fasb.org/extlink&amp;oid=6911338&amp;loc=d3e6819-128478<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 25<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=6911189&amp;loc=d3e6408-128476<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationContingentConsiderationLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireBusinessesGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireBusinessesGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FashionOutletsOfChicagoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_FashionOutletsOfChicagoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>70
<FILENAME>R58.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6929053424">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Acquisitions - Allocation of Fair Value (Details) - Inland Center<br> $ in Thousands</strong></div></th>
<th class="th">
<div>Feb. 17, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty', window );">Property</a></td>
<td class="nump">$ 91,871<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges', window );">Deferred charges</a></td>
<td class="nump">9,752<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets', window );">Other assets</a></td>
<td class="nump">5,782<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets', window );">Total assets acquired</a></td>
<td class="nump">107,405<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable', window );">Mortgage note payable</a></td>
<td class="nump">50,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther', window );">Other accrued liabilities</a></td>
<td class="nump">4,905<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities', window );">Total liabilities assumed</a></td>
<td class="nump">54,905<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Fair value of acquired net assets (at 100% ownership)</a></td>
<td class="nump">$ 52,500<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Charges</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedDeferredCharges</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Note Payable</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageNotePayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Assets</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of assets acquired at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of other liabilities due within one year or within the normal operating cycle, if longer, assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities assumed at the acquisition date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=35744172&amp;loc=d3e2207-128464<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>71
<FILENAME>R59.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6763264288">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions - Remeasurement Gain (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 17, 2015</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Carrying value of investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,844,516)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,532,552)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss', window );">Gain on remeasurement of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 22,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember', window );">Inland Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1', window );">Fair value of existing ownership interest (at % ownership)</a></td>
<td class="nump">$ 26,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Carrying value of investment</a></td>
<td class="num">(4,161)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss', window );">Gain on remeasurement of assets</a></td>
<td class="nump">$ 22,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage', window );">Fair value of existing ownership interest (as a percent)</a></td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value at acquisition-date of the equity interest in the acquiree held by the acquirer, immediately before the acquisition date for businesses combined in stages.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeFairValue1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of equity in the acquiree held by the acquirer immediately before the acquisition date in a business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireePercentage</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination achieved in stages, this element represents the amount of net gain (loss) recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R60.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6765685376">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Acquisitions - Reconciliation of Purchase Price (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 17, 2015</div></th>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Carrying value of investment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,844,516<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,532,552<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss', window );">Gain on remeasurement of assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 22,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember', window );">Inland Center</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionLineItems', window );"><strong>Acquisition</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationConsiderationTransferred1', window );">Purchase price</a></td>
<td class="nump">$ 51,250<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1', window );">Less debt assumed</a></td>
<td class="num">(25,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityMethodInvestments', window );">Carrying value of investment</a></td>
<td class="nump">4,161<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss', window );">Gain on remeasurement of assets</a></td>
<td class="nump">22,089<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet', window );">Fair value of acquired net assets (at 100% ownership)</a></td>
<td class="nump">$ 52,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired', window );">Ownership interest at completion of acquisition (as a percent)</a></td>
<td class="nump">100.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of voting equity interests acquired at the acquisition date in the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionPercentageOfVotingInterestsAcquired</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationConsiderationTransferred1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of consideration transferred, consisting of acquisition-date fair value of assets transferred by the acquirer, liabilities incurred by the acquirer, and equity interest issued by the acquirer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 7<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6578-128477<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=35744584&amp;loc=d3e6927-128479<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 30<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=6911251&amp;loc=d3e6613-128477<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationConsiderationTransferred1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 55<br> -Paragraph 37<br> -URI http://asc.fasb.org/extlink&amp;oid=35744172&amp;loc=d3e2207-128464<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956791&amp;loc=d3e4845-128472<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>In a business combination achieved in stages, this element represents the amount of net gain (loss) recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 805<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (g)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=56956515&amp;loc=d3e1392-128463<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessCombinationStepAcquisitionEquityInterestInAcquireeRemeasurementGainOrLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 323<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=35755396&amp;loc=d3e33749-111570<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.12)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of debt that an Entity assumes in acquiring a business or in consideration for an asset received in a noncash (or part noncash) acquisition. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BusinessAcquisitionAxis=mac_InlandCenterMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>73
<FILENAME>R61.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6749873360">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Dispositions: (Details)<br> ft&#178; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Nov. 19, 2015 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Jun. 30, 2015 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems', window );"><strong>Discontinued Operations:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on early extinguishment of debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (8,453)<span></span>
</td>
<td class="num">$ (2,245)<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_GreatNorthernMallMember', window );">Great Northern Mall | Great Northern Mall</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems', window );"><strong>Discontinued Operations:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">895<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainsLossesOnExtinguishmentOfDebt', window );">Gain on early extinguishment of debt, net</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (1,627)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PanoramaMallMember', window );">Panorama Mall [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems', window );"><strong>Discontinued Operations:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="nump">312<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Proceeds from sale</a></td>
<td class="nump">$ 98,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal', window );">Gain (loss) on disposal</a></td>
<td class="nump">$ 73,726<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of gain (loss) recognized on the sale or disposal of a disposal group. Excludes discontinued operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=51824106&amp;loc=d3e2443-110228<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=51719941&amp;loc=d3e2941-110230<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DisposalGroupNotDiscontinuedOperationGainLossOnDisposal</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainsLossesOnExtinguishmentOfDebt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 470<br> -SubTopic 50<br> -Section 40<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_GainsLossesOnExtinguishmentOfDebt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinesses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfBusinesses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_GreatNorthernMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_GreatNorthernMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DebtInstrumentAxis=mac_GreatNorthernMallMortgageMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DebtInstrumentAxis=mac_GreatNorthernMallMortgageMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PanoramaMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_PanoramaMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>74
<FILENAME>R62.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6917662880">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies: (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ContingentLiabilitiesAbstract', window );"><strong>Contingent Liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseNet', window );">Operating lease rent expense</a></td>
<td class="nump">$ 2,511<span></span>
</td>
<td class="nump">$ 2,945<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeasesRentExpenseContingentRentals', window );">Contingent rent</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LettersOfCreditOutstandingAmount', window );">Contingent liability under letters of credit</a></td>
<td class="nump">61,002<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConstructionPayableCurrent', window );">Outstanding obligations under construction agreements</a></td>
<td class="nump">$ 62,832<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ContingentLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>-- None. No documentation exists for this element. --</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ContingentLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConstructionPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable for the acquisition of merchandise, materials, supplies and services pertaining to construction projects such as a housing development or factory expansion not classified as trade payables. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConstructionPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LettersOfCreditOutstandingAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The total amount of the contingent obligation under letters of credit outstanding as of the reporting date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LettersOfCreditOutstandingAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesRentExpenseContingentRentals">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 55<br> -Paragraph 40<br> -Subparagraph (Note 3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6584154&amp;loc=d3e38371-112697<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Rentals<br> -URI http://asc.fasb.org/extlink&amp;oid=6508509<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 40<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6452616&amp;loc=d3e36728-112689<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 25<br> -Paragraph 35<br> -URI http://asc.fasb.org/extlink&amp;oid=7579899&amp;loc=d3e35050-112683<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6452660&amp;loc=d3e36991-112694<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesRentExpenseContingentRentals</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeasesRentExpenseNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 840<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6453985&amp;loc=d3e41499-112717<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeasesRentExpenseNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>75
<FILENAME>R63.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6747447680">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Transactions: (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty', window );">Interest expense, related party</a></td>
<td class="nump">$ 2,272<span></span>
</td>
<td class="nump">$ 2,729<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromAffiliates', window );">Due from affiliates</a></td>
<td class="nump">73,087<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 83,928<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember', window );">Related parties note receivable, RED Consolidated Holdings, LLC</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromAffiliates', window );">Due from affiliates</a></td>
<td class="nump">$ 8,222<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,252<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NotesReceivableInterestRate', window );">Note receivable, interest rate (as a percent)</a></td>
<td class="nump">5.25%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.25%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest income, related party</a></td>
<td class="nump">$ 117<span></span>
</td>
<td class="nump">137<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember', window );">Unconsolidated Joint Ventures and Third Party Managed Properties</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ManagementFeesRevenue', window );">Management fees</a></td>
<td class="nump">3,953<span></span>
</td>
<td class="nump">2,211<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_DevelopmentAndLeasingFeesRevenue', window );">Development and leasing fees</a></td>
<td class="nump">2,961<span></span>
</td>
<td class="nump">1,892<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ManagementDevelopmentAndLeasingFeesRevenue', window );">Fees charged to unconsolidated joint ventures and third-party managed properties</a></td>
<td class="nump">6,914<span></span>
</td>
<td class="nump">4,103<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember', window );">Northwestern Mutual Life (NML)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_InterestExpensePayableRelatedParty', window );">Interest expense payable, related party</a></td>
<td class="nump">751<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 756<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesMember', window );">Unconsolidated Joint Ventures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DueFromAffiliates', window );">Due from affiliates</a></td>
<td class="num">(2,865)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,467<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_CandlestickPointMember', window );">Candlestick Point | Affiliated Entity | Notes Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestIncomeRelatedParty', window );">Interest income, related party</a></td>
<td class="nump">521<span></span>
</td>
<td class="nump">$ 433<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesReceivableRelatedParties', window );">Note receivable</a></td>
<td class="nump">$ 67,730<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 67,209<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember', window );">London Interbank Offered Rate (LIBOR) | Candlestick Point | Affiliated Entity | Notes Receivable</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Related party transactions</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_NotesReceivableInterestRate', window );">Note receivable, interest rate (as a percent)</a></td>
<td class="nump">2.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_DevelopmentAndLeasingFeesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue, comprised of fees related to the development and leasing of joint venture properties and third-party managed properties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_DevelopmentAndLeasingFeesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_InterestExpensePayableRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense payable as of the balance sheet date on a debt or other obligation to a related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_InterestExpensePayableRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ManagementDevelopmentAndLeasingFeesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue, comprised of base and incentive revenue, from developing, operating and managing another entity's business during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ManagementDevelopmentAndLeasingFeesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_NotesReceivableInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The stated interest rate on the note receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_NotesReceivableInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DueFromAffiliates">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39599-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39622-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DueFromAffiliates</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestIncomeRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest income earned from interest-bearing assets owed to the entity by related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestIncomeRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ManagementFeesRevenue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Revenue, comprised of base and incentive revenue derived from the management of joint ventures, managing third-party properties, or another entity's operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(d))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ManagementFeesRevenue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesReceivableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an unclassified balance sheet, amounts due from parties associated with the reporting entity as evidenced by a written promise to pay.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(k)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NotesReceivableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 850<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6457730&amp;loc=d3e39549-107864<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=mac_RelatedPartiesNoteReceivableRedConsolidatedHoldingsLlcMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesAndThirdPartyManagedPropertiesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_NorthwesternMutualLifeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=mac_UnconsolidatedJointVenturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_CandlestickPointMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis=mac_CandlestickPointMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_AffiliatedEntityMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=us-gaap_AffiliatedEntityMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_NotesReceivableMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsNotesLoansAndFinancingReceivableByReceivableTypeAxis=us-gaap_NotesReceivableMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>76
<FILENAME>R64.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6762906384">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans - Narrative (Details)<br> $ / shares in Units, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 04, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 01, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2016 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2015 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount', window );">Capitalized share and unit-based compensation costs | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 4,959<span></span>
</td>
<td class="nump">$ 4,347<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember', window );">Stock units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate', window );">Conversion rate of shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">85,045<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 79.24<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost of share and unit-based plans | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,628<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember', window );">LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate', window );">Conversion rate of shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">480,371<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 65.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk free rate (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1.32%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Volatility (as a percent)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">20.31%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost of share and unit-based plans | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 17,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost of share and unit-based plans | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember', window );">Phantom stock units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,534<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 80.42<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation cost of share and unit-based plans | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 746<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember', window );">LTIP units that vest in equal installments over a service period ending December 31, 2016 | LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">58,786<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 80.69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember', window );">Market-Indexed LTIP units that vest in equal installments over a service period ending December 31, 2016 | LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">266,899<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 53.32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember', window );">LTIP units that are fully vested on the grant date | LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">154,686<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Average grant date fair value (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 79.20<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments, Other than Options, Conversion Rate</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsConversionRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:pureItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Unrecognized cost of unvested share-based compensation awards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (f)(2)(iv)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_StockUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheOneMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheTwoMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_VestingAxis=us-gaap_ShareBasedCompensationAwardTrancheThreeMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>77
<FILENAME>R65.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6928837936">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans - Compensation Cost (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">$ 21,399<span></span>
</td>
<td class="nump">$ 18,815<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember', window );">LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">17,399<span></span>
</td>
<td class="nump">15,228<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_StockAwardsMember', window );">Stock awards</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">20<span></span>
</td>
<td class="nump">75<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember', window );">Stock units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">3,372<span></span>
</td>
<td class="nump">3,197<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">4<span></span>
</td>
<td class="nump">4<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember', window );">Phantom stock units</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share and unit-based plans</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Compensation cost under share and unit-based plans</a></td>
<td class="nump">$ 604<span></span>
</td>
<td class="nump">$ 311<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_StockAwardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_StockAwardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_StockUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R66.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6765734000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans - Nonvested Equity Awards (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Mar. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember', window );">LTIP Units</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Units (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">56,315<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">480,371<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares) | shares</a></td>
<td class="num">(154,686)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeited (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">382,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 73.24<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">65.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">79.20<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 60.47<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_StockAwardsMember', window );">Stock awards</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Units (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">1,612<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares) | shares</a></td>
<td class="num">(1,612)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeited (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 62.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">62.01<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember', window );">Phantom stock units</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Units (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">14,534<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares) | shares</a></td>
<td class="num">(5,237)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeited (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">9,297<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">80.42<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">80.83<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 80.20<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember', window );">Stock units</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Units (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">132,086<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">85,045<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Vested (in shares) | shares</a></td>
<td class="num">(67,703)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Forfeited (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">149,428<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 74.58<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">79.24<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">71.64<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Forfeited (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 78.55<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>-- None. No documentation exists for this element. --</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_LongTermIncentivePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_StockAwardsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_StockAwardsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_PhantomShareUnitsPSUsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=mac_StockUnitsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=mac_StockUnitsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>79
<FILENAME>R67.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6751085280">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Share and Unit-Based Plans - SARs (Details)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Mar. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember', window );">SARs</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>SARs (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">417,783<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised', window );">Exercised (in shares) | shares</a></td>
<td class="num">(25,988)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment', window );">Special dividend adjustment (in shares) | shares</a></td>
<td class="nump">10,185<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">401,980<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 55.13<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Vested (in dollars per share) | $ / shares</a></td>
<td class="nump">52.77<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue', window );">Special dividend adjustment (in dollars per share) | $ / shares</a></td>
<td class="nump">53.88<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 53.88<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Stock options</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Stock Options (in shares)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Balance at beginning of period (in shares) | shares</a></td>
<td class="nump">10,314<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod', window );">Granted (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised (in shares) | shares</a></td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment', window );">Special dividend adjustment (in shares) | shares</a></td>
<td class="nump">251<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Balance at end of period (in shares) | shares</a></td>
<td class="nump">10,565<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Value (in dollars per share)</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Balance at beginning of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 58.15<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Granted (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised (in dollars per share) | $ / shares</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice', window );">Special dividend adjustment (in dollars per share) | $ / shares</a></td>
<td class="nump">56.77<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Balance at end of period (in dollars per share) | $ / shares</a></td>
<td class="nump">$ 56.77<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>-- None. No documentation exists for this element. --</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Special Dividend Adjustment, Weighted Average Grant Date Fair Value</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SharebasedCompensationArrangementbySharebasedPaymentAwardEquityInstrumentsOtherthanOptionsSpecialDividendAdjustmentWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangement by Share-based Payment Award, Options, Special Dividend Adjustment</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SharebasedCompensationArrangementbySharebasedPaymentAwardOptionsSpecialDividendAdjustment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Share-based Compensation Arrangements by Share-based Payment Award, Options, Special Dividend Adjustment, Weighted Average Exercise Price</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_SharebasedCompensationArrangementsbySharebasedPaymentAwardOptionsSpecialDividendAdjustmentWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(2)(iii)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of non-option equity instruments exercised by participants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of equity instruments other than options outstanding, including both vested and non-vested instruments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (d)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28,29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29, 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_StockAppreciationRightsSARSMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R68.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6641342368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Income Taxes: (Details) - USD ($)<br> $ in Thousands</strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2016</div></th>
<th class="th"><div>Mar. 31, 2015</div></th>
<th class="th"><div>Dec. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Income tax benefit</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="num">(1,317)<span></span>
</td>
<td class="nump">935<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax (expense) benefit</a></td>
<td class="num">(1,317)<span></span>
</td>
<td class="nump">$ 935<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsNetAbstract', window );"><strong>Components of net deferred tax assets</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredTaxAssetsLiabilitiesNet', window );">Net deferred tax assets</a></td>
<td class="nump">$ 37,591<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 38,847<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6509736<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Deferred Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6510177<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 6.I.7)<br> -URI http://asc.fasb.org/extlink&amp;oid=34349781&amp;loc=d3e330036-122817<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 6<br> -Section I<br> -Subsection 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsLiabilitiesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, before jurisdictional netting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsLiabilitiesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredTaxAssetsNetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredTaxAssetsNetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>81
<FILENAME>R69.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.4.0.3</span><table class="report" border="0" cellspacing="2" id="idp6751602416">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events: (Details)<br> $ / shares in Units, ft&#178; in Thousands, $ in Thousands</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">2 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Apr. 26, 2016 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Apr. 19, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Apr. 13, 2016 </div>
<div>USD ($) </div>
<div>ft&#178;</div>
</th>
<th class="th">
<div>Feb. 22, 2016 </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 19, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Nov. 13, 2015 </div>
<div>shares</div>
</th>
<th class="th">
<div>Oct. 30, 2015 </div>
<div>$ / shares</div>
</th>
<th class="th">
<div>Apr. 19, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Jan. 20, 2016 </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased', window );">Accelerated shares repurchased, number of shares purchased (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,222,193<span></span>
</td>
<td class="nump">970,609<span></span>
</td>
<td class="nump">4,140,788<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,111,397<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare', window );">Average price per share paid for stock repurchased for accelerated stock repurchases (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 78.26<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividend declared (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.00<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember', window );">Subsequent event</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased', window );">Accelerated shares repurchased, number of shares purchased (shares) | shares</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">861,235<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,083,428<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare', window );">Average price per share paid for stock repurchased for accelerated stock repurchases (in dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 78.69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockDividendsPerShareDeclared', window );">Dividend declared (in dollars per share)</a></td>
<td class="nump">$ 0.68<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_CapitolaMallMember', window );">Capitola Mall [Member] | Subsequent event</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent events</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AreaOfRealEstateProperty', window );">Property area (in square feet) | ft&#178;</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">586<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromDivestitureOfBusinesses', window );">Proceeds from sale | $</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 93,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accelerated Share Repurchase Program, Number of Shares Purchased</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">mac_AcceleratedShareRepurchaseProgramNumberofSharesPurchased</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>mac_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Final price paid per share for the purchase of the targeted number of shares, determined by an average market price over a fixed period of time.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 30<br> -Section 25<br> -Paragraph 5<br> -URI http://asc.fasb.org/extlink&amp;oid=6405686&amp;loc=d3e22802-112653<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AcceleratedShareRepurchasesFinalPricePaidPerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AreaOfRealEstateProperty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area of a real estate property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AreaOfRealEstateProperty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:areaItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockDividendsPerShareDeclared">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate dividends declared during the period for each share of common stock outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockDividendsPerShareDeclared</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromDivestitureOfBusinesses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from the sale of a portion of the company's business, for example a segment, division, branch or other business, during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromDivestitureOfBusinesses</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsequentEventTypeAxis=us-gaap_SubsequentEventMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_CapitolaMallMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis=mac_CapitolaMallMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>82
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M2LM!B1+DRT%."5HO!ZTI08_+08^4H*?EH"=*4*R!C#4G"6'-T3H"KB/'ZPC
MCARQ(R [<LR. .W(43L"MB/'[0C@CARY(Z [<NR. ._(T5N WL+16X#>0GK6
M1@_;'+T%Z"T<O07H+1R]!>@M'+T%Z"T<O07H+1R]!>@M'+T%Z"T<O17HK1R]
M%>BM'+T5Z*VDO1*T6<+16X'>RM%;@=[*T5N!WLK16X'>RM%;@=[*T5N!WLK1
MVX#>QM';@-[&T=N WL;1VX#>1MKK1IO='+T-Z&T<O0WH;1R]#>AM'+T-Z&T<
MO0WH;1R]$] [<?1.0._$T3L!O1-'[P3T3AR]$] [D=Y5HI>5'+T3T#MQ]$Y
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M4]"T/DMZD!E*3RCB@J@;@#1B>0#>2P$-,!-*;T,,I$X;41#0_D;[+$81[Z9
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MZEE'&6">0!'D08L1M-(,(9&$-))DH!)F!_*,1<*B$I-#;_:HE-+2,")APL1
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MV+5/X_0U]]_[<, =?HS=:SRO/_VG@<W_4$L#!!0    ( '5AIDBJ/'P=H $
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M0'8ID$6![+L1(^8P8[9?FK"S/56@FW!U#"EQZ&S<TJ6ZW,[;-)S))[S(>][
M,]>-Z PYHG4G&PZ@1K3@VB<W&TI:]WZ61$)M??C+Q3I>J9A8[.<'LKS2XC]0
M2P,$%     @ =6&F2.WXR=.C 0  L0,  !@   !X;"]W;W)K<VAE971S+W-H
M965T.2YX;6R%4\MNVS 0_!6"'Q#*LO*H(0N(4Q3MH4"00WNFI95$A.2J)&6E
M?U\^),4.C.8B[JYF9F?Y*"<TK[8'<.1-26WWM'=NV#%FZQX4MS<X@/9_6C2*
M.Y^:CMG! &\B24F69]D=4UQH6I6Q]FRJ$D<GA89G0^RH%#=_#R!QVM,-70HO
MHNM=*+"J9"NO$0JT%:B)@79/'S>[0Q$0$?!+P&3/8A*\'Q%?0_*CV=,L6  )
MM0L*W"\G> (I@Y!O_&?6?&\9B.?QHOXM3NO='[F%)Y2_1>-Z;S:CI(&6C]*]
MX/0=YA%N@V"-TL8OJ4?K4"T42A1_2ZO0<9W2GZ*8:=<)^4S(5\)#%HVG1M'F
M5^YX51J<B!UX.+O-SL--$/'*Q'NS?NRH:>+@57FJ-G?W)3L%H0M,(AYFS(I@
M7OUJBYQ>H^>1GG].WU[2M\GA=G;X\+E <2E0)('B?R,FS&'!?/G0A)WMJ0+3
MQ:MC28VC=FE+U^IZ.Q_S>";O\*H<> <_N>F$MN2(SI]L/( 6T8%OG]W<4M+[
M][,F$EH7PGL?FW2E4N)P6![(^DJK?U!+ P04    " !U8:9(Y-9&IJ(!  "Q
M P  &0   'AL+W=O<FMS:&5E=',O<VAE970Q,"YX;6R-4]M.XS 0_17+'X#3
MM"RK*HU$0:O=!R3$P^ZSFTP2"]L3;*>!OU]?DM"B"GB)9R;GG#GC2S&B>;8=
M@".O2FJ[HYUS_98Q6W6@N+W"'K3_TZ!1W/G4M,SV!G@=24JR/,M^,,6%IF41
M:X^F+'!P4FAX-,0.2G'SM@>)XXZNZ%QX$FWG0H&5!5MXM5"@K4!-##0[>KO:
M[C<!$0%_!8SV)";!^P'Q.21_ZAW-@@604+F@P/URA#N0,@CYQB^3YGO+0#R-
M9_5?<5KO_L MW*'\)VK7>;,9)34T?)#N"<??,(UP'00KE#9^2358AVJF4*+X
M:UJ%CNN8_JRSB7:9D$^$?"'\C 26&D6;]]SQLC X$MOS<':KK8>;(.*5B?=F
M_=A1T\3!R^)8KFZR@AV#T!DF$?<39D$PKWZQ14XOT?-(S[^FK\_IZ^1P/3G\
M1O_-N< F"6P^&S%A]C/FHTMVLJ<*3!NOCB45#MJE+5VJR^V\S>.9O,/+HN<M
M/'#3"FW) 9T_V7@ #:(#WSZ[NJ:D\^]G220T+H0W/C;I2J7$83\_D.65EO\!
M4$L#!!0    ( '5AIDBS[X&_HP$  +$#   9    >&PO=V]R:W-H965T<R]S
M:&5E=#$Q+GAM;(53RV[;,!#\%8(?$,JRG!2&+"!.4;2' D$.[9F65A(1DJN2
ME)7^??F0%#LPFHNXNYJ9G>6CG-"\VA[ D3<EM3W0WKEASYBM>U#<WN$ VO]I
MT2CN?&HZ9@<#O(DD)5F>9?=,<:%I5<;:LZE*')T4&IX-L:-2W/P]@L3I0#=T
M*;R(KG>AP*J2K;Q&*-!6H"8&V@-]W.R/14!$P"\!D[V(2?!^0GP-R8_F0+-@
M 234+BAPOYSA":0,0K[QGUGSO64@7L:+^K<XK7=_XA:>4/X6C>N]V8R2!EH^
M2O>"TW>81]@%P1JEC5]2C]:A6BB4*/Z65J'C.J4_N_N9=IN0SX1\)7S)HO'4
M*-K\RAVO2H,3L0,/9[?9>[@)(EZ9>&_6CQTU31R\*L_5YF%;LG,0NL(DXG'&
MK CFU6^VR.DM>A[I^>?T[35]FQQN9X?%YP+%M4"1!(K_C9@PQP6S^]"$7>RI
M M/%JV-)C:-V:4O7ZGH['_-X)N_PJAQX!S^YZ82VY(3.GVP\@!;1@6^?W>TH
MZ?W[61,)K0OA@X]-NE(I<3@L#V1]I=4_4$L#!!0    ( '5AIDB3':;EHP$
M +$#   9    >&PO=V]R:W-H965T<R]S:&5E=#$R+GAM;(53VVZC,!#]%<L?
M4 .A3141I*:KJONP4M6']MF! :S:#&N;T/W[]05HLHJV+WAF..?,&5^*"?6'
MZ0 L^52R-WO:63OL&#-5!XJ;&QR@=W\:U(I;E^J6F4$#KP-)298ER1U37/2T
M+$+M19<%CE:*'EXT,:-27/\Y@,1I3U.Z%%Y%VUE?8&7!5EXM%/1&8$\T-'OZ
MD.X.N4<$P)N R9S%Q'L_(G[XY&>]IXFW !(JZQ6X6T[P"%)Z(=?X]ZSYU=(3
MS^-%_2E,Z]P?N8%'E.^BMITSFU!20\-':5]Q>H9YA%LO6*$TX4NJT5A4"X42
MQ3_C*OJP3O%/GLZTZX1L)F0KX3X)QF.C8/,'M[PL-$[$#-R?7;IS<.U%G#)Q
MWHP;.VCJ,'A9G,IT>U>PDQ>ZP$3B8<:L".;4K[;(Z#5Z%NC9]_3-)7T3'6YF
MA]OO!?)+@3P*Y/\;,6(."^;^GR;L;$\5Z#9<'4,J''L;MW2MKK?S(0MG\@4O
MBX&W\(OK5O2&'-&ZDPT'T"!:<.V3FUM*.O=^UD1"8WVX=;&.5RHF%H?E@:RO
MM/P+4$L#!!0    ( '5AID@9BML-I $  +$#   9    >&PO=V]R:W-H965T
M<R]S:&5E=#$S+GAM;(53VV[C(!#]%<0'%,=)MMG(L=2T6NT^5*KZL/M,[+&-
M"HP+.&[_?KDX;E)%[0O,#.><F6&@&-&\V [ D3<EM=W1SKE^RYBM.E#<WF /
MVI\T:!1WWC4ML[T!7D>2DBS/LA],<:%I6<38DRD+')P4&IX,L8-2W+SO0>*X
MHPMZ"CR+MG,AP,J"S;Q:*-!6H"8&FAV]6VSWJX"(@+\"1GMFDU#[ ?$E.'_J
M'<U""2"A<D&!^^T(]R!E$/*)7R?-CY2!>&Z?U'_%;GWU!V[A'N4_4;O.%YM1
M4D/#!^F><?P-4POK(%BAM'$EU6 =JA.%$L7?TBYTW,=TLLXFVG5"/A'RF;")
M!)82Q3(?N.-E87 DMN=A=HNMAYL@XI6)K\WZMJ.FB8V7Q;%<W/XLV#$(76 2
M<3]A9@3SZE=3Y/0:/8_T_'OZ\I*^3!4N4_9-]KW ZE)@E0167[68,/L)L_G<
M)#N[4P6FC4_'D@H'[=*5SM'Y==[E<28?\++H>0N/W+1"6W) YR<;!] @.O#I
MLYLU)9W_/[,CH7'!O/6V24\J.0[[TP>9?VGY'U!+ P04    " !U8:9(B8J-
M8Z,!  "Q P  &0   'AL+W=O<FMS:&5E=',O<VAE970Q-"YX;6R%4\MNVS 0
M_!6"'Q#*LE('ABP@3E&TAP)!#NV9EE82$9*KDI25_GWYD!0[,)J+N+N:F9WE
MHYS0O-H>P)$W);4]T-ZY8<^8K7M0W-[A -K_:=$H[GQJ.F8' [R))"59GF5?
MF.)"TZJ,M6=3E3@Z*30\&V)'I;CY>P2)TX%NZ%)X$5WO0H%5)5MYC5"@K4!-
M#+0'^KC9'XN B(!? B9[$9/@_83X&I(?S8%FP0)(J%U0X'XYPQ-(&81\XS^S
MYGO+0+R,%_5O<5KO_L0M/*'\+1K7>[,9)0VT?)3N!:?O,(]P'P1KE#9^23U:
MAVJA4*+X6UJ%CNN4_NQV,^TV(9\)^4IXR*+QU"C:_,H=KTJ#$[$##V>WV7NX
M"2)>F7AOUH\=-4T<O"K/U>8A+]DY"%UA$O$X8U8$\^HW6^3T%CV/]/QS^O::
MODT.M[/#[><"Q;5 D02*_XV8,,<%4WQHPB[V5('IXM6QI,91N[2E:W6]G8]Y
M/)-W>%4.O(.?W'1"6W)"YT\V'D"+Z,"WS^[N*>G]^UD3":T+X<[')EVIE#@<
ME@>ROM+J'U!+ P04    " !U8:9('&7MBZ,!  "Q P  &0   'AL+W=O<FMS
M:&5E=',O<VAE970Q-2YX;6R%4\MNVS 0_!6"'Q#*LAT'ABP@3E"TAP)!#NV9
MEE82$9*KD)25_GWYD!2[,)J+N+N:F9WEHQC1O-D.P)$/);4]T,ZY?L^8K3I0
MW-YA#]K_:= H[GQJ6F9[ [R.)"59GF7W3'&A:5G$VHLI"QR<%!I>#+&#4MS\
M.8+$\4!7="Z\BK9SH<#*@BV\6BC05J F!IH#?5SMCYN B(!? D9[$9/@_83X
M%I(?]8%FP0)(J%Q0X'XYPQ-(&81\X_=)\[-E(%[&L_JW.*UW?^(6GE#^%K7K
MO-F,DAH:/DCWBN-WF$;8!L$*I8U?4@W6H9HIE"C^D5:AXSJF/_ENHMTFY!,A
M7P@/632>&D6;S]SQLC X$MOS<':KO8>;(.*5B?=F_=A1T\3!R^)<KAZV!3L'
MH2M,(AXGS()@7OUFBYS>HN>1GG]-7U_3U\GA>G)X_[7 YEI@DP0V_QLQ88XS
M9O=/$W:QIPI,&Z^.)14.VJ4M7:K+[7S,XYE\PLNBYRW\Y*85VI(3.G^R\0 :
M1 >^?7:WI:3S[V=))#0NA#L?FW2E4N*PGQ_(\DK+OU!+ P04    " !U8:9(
M%9W'SJ,!  "Q P  &0   'AL+W=O<FMS:&5E=',O<VAE970Q-BYX;6R%4\MN
MVS 0_!6"'Q#*LI.ZABP@3E&TAP!!#NF9EE82$9*KDI25_'WXD!2[,)J+N+N:
MF9WEHQC1O-H.P)$W);7=T\ZY?L>8K3I0W-Y@#]K_:= H[GQJ6F9[ [R.)"59
MGF5W3'&A:5G$VI,I"QR<%!J>#+&#4MR\'T#BN*<K.A>>1=NY4&!EP19>+11H
M*U 3 \V>WJ]VATU 1,"+@-&>Q21X/R*^AN1WO:=9L  2*A<4N%].\ !2!B'?
M^.^D^=DR$,_C6?UGG-:[/W(+#RC_B-IUWFQ&20T-'Z1[QO$73"/<!L$*I8U?
M4@W6H9HIE"C^EE:AXSJF/^MLHETGY!,A7PC;2&"I4;3Y@SM>%@9'8GL>SFZU
M\W 31+PR\=ZL'SMJFCAX69S*U79;L%,0NL DXF'"+ CFU:^VR.DU>A[I^=?T
M]25]G1RN)X=W7PML+@4V26#SOQ$3YC!COO_3A)WMJ0+3QJMC286#=FE+E^IR
M.^_S>":?\++H>0N/W+1"6W)$YT\V'D"#Z,"WSVYN*>G\^UD2"8T+X3<?FW2E
M4N*PGQ_(\DK+#U!+ P04    " !U8:9(?W\9&J(!  "Q P  &0   'AL+W=O
M<FMS:&5E=',O<VAE970Q-RYX;6R%4\MNVS 0_!6"'Q#*LM*'(0N($Q3MH4"0
M0WNFI95$A.0J)&6E?U\^),5.W?8B[JYF9F?Y*"<TS[8'<.1526WWM'=NV#%F
MZQX4MS<X@/9_6C2*.Y^:CMG! &\B24F69]D'IKC0M"IC[=%4)8Y."@V/AMA1
M*6Y^'4#BM*<;NA2>1->[4&!5R59>(Q1H*U 3 ^V>WFUVAR(@(N"'@,F>Q21X
M/R(^A^1;LZ=9L  2:A<4N%].< ]2!B'?^&76?&L9B.?QHOXE3NO='[F%>Y0_
M1>-Z;S:CI(&6C](]X?05YA%N@V"-TL8OJ4?K4"T42A1_3:O0<9W2G[R8:=<)
M^4S(5\*G+!I/C:+-!^YX51J<B!UX.+O-SL--$/'*Q'NS?NRH:>+@57FJ-I^S
MDIV"T 4F$0\S9D4PKWZU14ZOT?-(S_]/WU[2M\GA]@^'?Q4H+@6*)%#\:\2$
M.2R8]T.RLSU58+IX=2RI<=0N;>E:76_G71[/Y U>E0/OX#LWG="6'-'YDXT'
MT"(Z\.VSFUM*>O]^UD1"ZT+XT<<F7:F4.!R6![*^TNHW4$L#!!0    ( '5A
MID@416Q[H@$  +$#   9    >&PO=V]R:W-H965T<R]S:&5E=#$X+GAM;(53
MVVZ<,!#]%<L?$+- >EFQ2-E45?M0*<I#^^R% :S8'FJ;)?W[^@)DMUHU+WAF
M..?,&5^J&<V+'0 <>552VP,=G!OWC-EF ,7M'8Z@_9\.C>+.IZ9G=C3 VTA2
MDN59]H$I+C2MJUA[,G6%DY-"PY,A=E**FS]'D#@?Z(ZNA6?1#RX46%VQC=<*
M!=H*U,1 =Z /N_VQ#(@(^"E@MA<Q"=Y/B"\A^=X>:!8L@(3&!07NES,\@I1!
MR#?^O6B^M0S$RWA5_QJG]>Y/W,(CRE^B=8,WFU'20L<GZ9YQ_@;+"/=!L$%I
MXY<TDW6H5@HEBK^F5>BXSNE/L=)N$_*%D&^$3UDTGAI%FU^XXW5E<"9VY.'L
M=GL/-T'$*Q/OS?JQHZ:)@]?5N=Y]SBMV#D)7F$0\+I@-P;SZS18YO47/(SU_
MGUY<TXODL%@<%N\+E-<"91(H_S=BPAQ73/E/$W:QIPI,'Z^.)0U.VJ4MW:K;
M[7S(XYF\P>MJY#W\X*87VI(3.G^R\0 Z1 >^?79W3\G@W\^62.A<"#_ZV*0K
ME1*'X_I ME=:_P502P,$%     @ =6&F2 #*'I&D 0  L0,  !D   !X;"]W
M;W)K<VAE971S+W-H965T,3DN>&ULA5/+;MLP$/P5@A\0RK(=MX8L($Y0M(<"
M00[MF996$A&2JY"4E?Y]^9 4NS":B[B[FIF=Y:,8T;S:#L"1=R6U/=#.N7[/
MF*TZ4-S>80_:_VG0*.Y\:EIF>P.\CB0E69YE]TQQH6E9Q-JS*0L<G!0:G@VQ
M@U+<_#F"Q/% 5W0NO(BV<Z' RH(MO%HHT%:@)@:: WU8[8^;@(B 7P)&>Q&3
MX/V$^!J2'_6!9L$"2*A<4.!^.<,C2!F$?..W2?.C92!>QK/ZMSBM=W_B%AY1
M_A:UZ[S9C)(:&CY(]X+C=YA&V ;!"J6-7U(-UJ&:*90H_IY6H>,ZIC_KW42[
M3<@G0KX0OF31>&H4;3YQQ\O"X$ALS\/9K?8>;H*(5R;>F_5C1TT3!R^+<[GZ
MNBW8.0A=81+Q.&$6!//J-UOD]!8]C_3\<_KZFKY.#M>3P_O/!3;7 ILDL/G?
MB ESG#&[?YJPBSU58-IX=2RI<- N;>E276[G0Q[/Y ->%CUOX2<WK="6G-#Y
MDXT'T" Z\.VSNRTEG7\_2R*A<2'<^=BD*Y42A_W\0)976OX%4$L#!!0    (
M '5AIDC3_N8]I0$  +$#   9    >&PO=V]R:W-H965T<R]S:&5E=#(P+GAM
M;(53VT[C,!#]%<L?@-.DL%"ED2@(P<-*B(?=9S>9)!:V)]A.P_[]^I*&=E4M
M+_',Y)PS9WPI)S3OM@=PY%-);;>T=V[8,&;K'A2W5SB ]G]:-(H[GYJ.V<$
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MPA\^-NE*I<3A<'P@RRNM_@)02P,$%     @ =6&F2&6U>:&A 0  L0,  !D
M  !X;"]W;W)K<VAE971S+W-H965T,C$N>&ULC5/+;MLP$/P5@A\0RK+=%(8L
M($X0M(<"00[)F996$A&2JY"4E?Q]^;!D.S#:7,3=U<SL+!_%B.;-=@".?"BI
M[99VSO4;QFS5@>+V!GO0_D^#1G'G4],RVQO@=20IR?(L^\$4%YJ61:P]F;+
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MR1Z=/]EX  VB ]\^NUE3TOGW,R<2&A?"6Q^;=*52XK"?'LC\2LN_4$L#!!0
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M.O=^UD1"8WUX[V(=KU1,+ [+ UE?:?D%4$L#!!0    ( '5AID@SRB0SHP$
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MDJN2E)7^??F0%#LPFHNXNYJ9G>6CG-"\VA[ D3<EM=W3WKEAQYBM>U#<WN
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M"8WUTT]NKN.]C0N+P_(*UU]!^0=02P,$%     @ =6&F2) $6C&C 0  L0,
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M+UKD]!(]3Q;_IJ_/Z>O4X3JYW_Z'?W$N4"2!8A[QQZ41$V97S";?NV0G>ZK
M=/'J6%+CJ%W:TJ6ZW,[[/)[)%[PJ!][!3VXZH2W9H_,G&P^@173@[;.K:TIZ
M_WZ61$+K0GCK8Y.N5$H<#L<'LKS2ZB]02P,$%     @ =6&F2(<MZ#&N 0
M%@0  !D   !X;"]W;W)K<VAE971S+W-H965T,S N>&ULC51;;YLP%/XKEG]
MS259IX@@-9VF[6%2U8?MV8$#6+4YS#:A^_?S!6A2H74O^/;=CHY-,:%^,1V
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M)[3N9,,!-(@6G'URMZ6D<^]G320TUH<[%^MXI6)B<5@>R/I*RT]02P,$%
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M7*SCE8J)Q7Y^(,LK+?X#4$L#!!0    ( '5AIDAGUK"#O@$  'L$   9
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M1\F7++A8H3M,Y# GC]DLB,"HKUI$>(T>>8N/#8H)$3]VV-X[^.1Q.S7Q];'
M[EY@YP5V7B -[XOD#I/X-CPF?6P1KUK$D\4GMC%9;3+Y?)/I:@7I5,'JG_"8
MTXS9?HPIWF-\(<'-^6,@&W<O%2K%P+4_?DMVN?K'R)W?*SS/>M+ +R*;CBMT
M%MK< G=8:R$T&/OP*<:H-8_3$E"HM9VF9B[]??6!%OW\^BQ/8/X?4$L#!!0
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M+-ML.#F'CJ#=^",P_8WD_P!02P,$%     @ =6&F2,BL =\; P  5PP  !D
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M?A!R%TUY]+]OG7]D6_P'4$L#!!0    ( '5AIDA%H[;QW@(  !L+   9
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M9"*?4#! 0:-Q>%"*K9"',.*$$Q1Q\B#@G,"4MQ0@+'7J?WE,"B:^&AZ<_&Y
MN!N";X=HRKS"_1#(A/I[Z/X#X,'I3T"X)P+U72A2V*6'OG" G..8E >%$ @F
M.(4;(_C.&.O3G@&)"<,04_(@0Q+E$[YEP,-.OCO2R+V6'@))*8-8-SF!C&#&
MICQ1X88+ODO28$W\)]9#7S#*\]@G]LQ9>?%)*;O8QNS+K?I9=MNJ[9-7;>R.
M:-RX;+0VRN9!#RQ-=G:G>KZHU<8,I\*>=V[OYBZ,WI^VHN?]\.(?4$L#!!0
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MZF1.)UNP<4B>()C"I<5R'(AQEF.$[POELT*YGQ^X8.28+X D!"\NV 3JKYE
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MG]O#WPXDZ\>[['*AEO\!4$L#!!0    ( '5AID@_UJ$(\P(  !,+   9
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M?6M[-ON@U6%L0:<^./L'4$L#!!0    ( '5AIDB62L:J7@(  "0(   9
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MB/[:<*7D7)LHYT E(U2=C"<WE2J+4QGGN(A.VNA&@XSFQ6K0?47E%.E%$BD
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MZ$1&^69/V8"%[+)#Q"=&\$Z3ACY*XCB/!MR-85WIL6=65_0H^FXDSRS@QV'
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MEH3!5N[R4ZE_J/-7Z6H0)N%&E6W_/]B<6JVJ(20,JOS5'HNZ/Y[M+PEQ87@
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MR=PV.R3+@C,77E(BX.@Y#,-"3)\\P F6!Q%"J9=1OVSKA"8VXP+R]C6%OAY
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MS/E]9$Q291*_I&%0J1O^VFGH4>IFIMK<WGFV(UD_7N'7_Q'E/U!+ P04
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M$-ESKI@6 :_:1Z'_2Y=)Q?;*#"?&H#NIW43Q]OSCN?S]\O]02P,$%     @
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M==^::W'/F*1*!+RH'*5Z:2^#FNZE[DYT0/OVV(%D7?^47M[SXC]02P,$%
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MSC"Y+48T+;!P5G,QOYH@=*:@MR?JN1Y!,]H.@#O.<-CR^R5=6] B#\,9YPU
M=Z3AQ#UHWMJ"LBB#Z9=(P=6UU:$3_H78J6ZYMZ-"WH#ZHCI2*K"4"9]E)I5\
M^\8%P4>AIIE*T;P&9B%H-SQNXPM;_@=02P,$%     @ =6&F2(7?XDS^ 0
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MQF),]<E!3SCIAH/0>!K+_P-02P,$%     @ =6&F2*<_[80Q!   CQ8  !D
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M9Z]SH#>8,/ Y8.0-D4W120J54L-5H)#B_0#Z;0 3<M1+ %OE[P<P;P/H$,!
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MXWQ93-=]."\--Z,_X_'O[0QZ\Q-02P,$%     @ =6&F2.UEFZ_T @  O@P
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MWS,FL3+FOR0>J-4G8#@0O)=ZFZD]MU/1'B3KSC-^^-"4_P%02P,$%     @
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MF<IVKV]'NB/8SE[VCC?.\C]02P,$%     @ =6&F2-,_OXMG80  H(@! !0
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M1ZV23!:B7.&Z*W;R60=2)01*F\>39Z[.%U=K+L-9*=JM78\TF#1#E8H;$?
M4,K%#0'2D3]W3;JGBD,?8\\7Z>6KLE,:0*(LQLS(J!+A=#5,(J+9$7OIM/V1
MN2DE<],Q_IATG'SG^;HSQE@P.Q')+K! GK?A*IE\\[A8W!SM6?7*7C@@S,%@
MH[P$W!%9VY17AMQD?@2,F4\#V'W0!7)O1=<+K:$:W[GSED19-[Q]C3(L93L#
M[D)UA34$L/1X=ZS#+O^!2_(.ZP4G);(C!#*1$H6U-4"JF5!MC1@$D4F.NE2Q
MNJ]$=="2,]?/R//'F5ML5@)9*@']#>YJ@-(+:-*7*L]JN02L5!6L%^4]^6U1
M9$2E&TBY\+6?HY1NEO?V0KCU4U#CL>A'!IJS @%F%PD3/HX"4E64F4]88?_:
M\QE@+DJ'P/8-1U<2D?(ZG< 5!YT5KC<:HC*0_J:@-%H"GJXTHCHU"I,$)$/,
M"AFADSC.0Y+ODDGB!RFJ<DF*<D] RM=YST@MTSO)8KBQ@:1_V.HL8M,IJ4M(
M;1U'X6LY;OVP?S:5UU>J3*AW7[,4DFGY]&BGZ&V<?A-K*YD>%S(@56!J+6K*
M=U -!W%4F#_^.C$>O^=!A#SP<5/=5Y0,:ZZ&JM@PBI\H)!_$,V\$V!E.I^32
M0Z?7A,U"F+R1D"X5 V*'H$G17HQED(5R8"43$#C)QQIB'&2Z!^.]41Z0.QCU
MF4E ;@):"FV(EA("W@ML?^4 ;4&AY*W T%N_V*+BRFW\@5P@5SU=)BDY_B :
MW#-@7S&C0V]//_)<R'SX<Y4/;ZX!@=:9PQY?%;N\6I3S^Y*J8ETH7NS)+IM7
MY&:1DJ7]W1O%^)7M[!,\A Y"LBPNGKC.P#57L4 GQGL4"=!VA7UP1_%ICWXV
M2DZ5/4O_;QARQ&G['?ZO)RQ\E)ZRK3!'HW'<?DY3+\+DI^^\-$PH&]<1/X[X
M&$VFVE_0(("^\-_<2\9 5;\CUW6&=V!BAK6-IJ=J?3PQ,(EH:GQGOI!U7HC\
M/,^-K^3V/NZV"^&%OGBH9L5]+:;(0"C/VL]HS!\'$UAE%$:\1L<0'ZKBOM@4
M\--BT7@_7I_S ""KH;5 ?IY.,B\>9SD,-@4RP8,MBOMF6]S=\09RWD#$L:/:
MQVR<([ #7 ^BGQ6CUP56F' %,6/SKNA]><1A&/G9)!&?8S\#0A*/PPD=4!"%
M+'7^L$'7V/D,95(Z8UHCDJ\P$Y\!Z.D$L",-Z-4XIJT&WA\YCY;"N92%6=@2
MR)2<1N1DX,^I'Q*.I;AM4*_#G+&,W(WW*"33XH,)KQ[>G4ZGZB/(#-$8U@P+
MB EB4^]C\1FX(O(E-DK')"3PYP2DH01V"WH +GD"$@,L.51VRY^J\I&/$0-C
M@UQ@U\0/Z$CA/W /THQ?^M,.0-3H.TM%V)K^.1K'.4V&IBAX+\'4IVV!MQ[0
M$<$T*]6Y)).\/1=,91WG_/)D$O.YP,LW(&C]5 $% CKV20;%::O M>=!H-:>
MPJ6+>,M))J![O:U71GX!.PH E4*!QP"K&*A',,X0,U+0"PFZUSN@ALV6*X-<
M8_74>PF"41"(,YJ"=!'+CU/8?S@.4\+JF,DLTR^%5T"ILG0B/Z+/+1['"&NX
M30SKF]VL(17'>[-"\V\Q+[PT]U.!C&BNRWG'@,I(:R)Y2C]5,\P]_0GF*JF@
M,E<NY+N*035)^QF."PZ9B$"&^PUC5QH++1,$ ^"]XC.@&"PT&@-NX6&!C,J!
M=#]C1C/&/5T57X#/"K]'$">@9X?B<TK!3S%CR93\)^0J"K! 7Y10.-8T"GU8
M('Z;(=;F%+ 5@PB1 $H(-T-?@(E0Y<S8G-U*NL5%'1K1<:CQ1JH2S.F869+K
MITY11Q%K-.*^N^5J]G2J&#)R">48I[FHH>:(_-BJJ"@6X04T-A_4NB5@L<]Z
MU]C]>D1,AMB+<+%WXP^^B'R?-KD1ZY.X(F(X-'A9K%;T"FKMZ_6F_D64(:'-
M*E;>5H:E)+4A>/6+*7L$C#X1V&VK;1U;>'G-X''RHT8@0![$V&(TP".69:E-
M+3!3?>JARI4-401 5[CP:40+RB<)(; ? QD]!%\+S=K505BC98Q5D^0_##K\
MN'_1C_ &:)Y 3;)0:*&ICUSBN=HC2I0(7;48,C2)>CMDEA,7MW?U^$*WXD@O
MC1 E+%Q[:T-QED+"I5%D%>/.0K3X^98<D.U+K N&B\5P4C"FW$\F$O+X%]BM
M=EMRJZIZW<8-W^T6U)>MW,RHB!T'[HAJC5:Y,GA3E(H2.]* T":^-IQ^RM9Y
M+*CHG-F<XS<-'<:FY$S59G?[9RI&U=:7P]AH)G"^5FFIK;:RJ$H,!WH$$0!#
M_P#9 #2@!.Q-= *(<SPYDVQ1-M0944Y6T8+*8YW$$RWT_!C3)O#2Q HU;Y/1
M*=H<\S)D82.MU%?K5 "A"*1;L;ZAYGIZEC69H\G3U74JT28>N102\18VI+;9
MWOO,PT,.M$YXEH+FU_FLX'1!= >*G(_SG@VITIO'[*K0&UV!KHQ5MPB@FM^*
MA;*+^DPL!_F.>@Y7-CWMR8AB[]ZO ?Y_N-,0MIF=[DEZ:5/S83RD->UVK4Q\
MU/Y@M _H3T=:KEOA*Z0_JS,52LL XU1YJG4K25]Y5\!UL4HLK<K[>ENQ^;*-
M'\1!!-W=J/1HI!^+ZC,WTZ" #[IY%.!1M6&$>IY);0_G48X-^T'*S=@C3>U&
M/F53BLMWKSY^\M8+D.5 *[#I@P[CZ=$NC*W9%9TH$:(;*HD\%7R:?&=SS2 X
M?-4X0&?5,I!&9?-\JX6CYL2SA>-@:B_\?=T*E4J@HDVH*&FN<5K0X5(MYB=1
M]P_T1CC4M='0<XC*2AYHSJKU_^FQY&U$%:$VND;/9M/*"3YQAH](>A+"O7$=
MOBJH7 ]?#R(],/RHV/SN&O0;J$K72F&$CD+<VLJLV[S"KB[;QW+Q1=K>?5*D
MUJW[7M(/TWJ$+%,P?R6@S DQ*+0& >VS+#)G.'X/PR%]HO "E0W85_R (@NH
M%BYF$=;(75:BAF=OBJ*]0*8QO80+7W(00 I.MPB@1>4>Z\WG?@JG*F7+DL.:
M6,-@DV6-17.)O43MQKR=JA9BZZ)D%TOH1S)J*/33,->/^RN<+)^,6/Z!:[8O
M.>']Y=AKF7M*O-"T5M_H98WUGHUJTX4,_1?=;A84F4%81>/C4<FZG7-=_1]=
M8E2+%^K51\E,T+>A PDH01Y-BH$_S3,1W8ZF(7^:=9W5V)NT87>Y+,ACT-Q&
MM<P!;1@70;L;LZV;MX'3:7U+=MQ$3>8EBH?:5C&4N:)3=:YM)'TRA;QT_)X6
M6:06NC4 :N08F!F@B+U<Y[,-%E"D1)-+B8;;+<M%SU;V5PQZ?;Q?EHN7S1K(
M]+^\H'W#O"]^YPT.T?[JRJSI-X]<"MIT06"RBV=A5!:2<E)1-B7V522MQB1I
M/6J+QM8+KUE3ZPAX*1A'V7=X@<(QR0K< JGBQH0FZ41; M'Y4I2LPP\+WTJP
MW=UCJ ;K9=D84PG;P]4(L3&*.R7(%_DF(I-&:%LK86R;<3%I1%)M<\$8Z^<<
MR2Z=%7-,N/K"?C&-.1V,@T1$X9[NS:..9@?8<3CF),QE!)"?IU,[V(AT3EDG
MT+QA,  (2P&+3<$X3VRQZ7@B96_^. (UC7*R$O.>XHD?IC:(U)UWTQ-):\3\
MYJX5^MZ5&EO3BE+H9(W%N*M-T: E'6_J2RTE/:>%1SV!3R@[1='$E %Z+EBB
M1'QJSBGD@+(5],5<Z=AAV1%0%V%)0L-5<@T%Q3_)T'4Q@+&FGJ@IJF<M2S'H
MD9:;LEK>HM#!H<PJR[!-BZNXKLGU;K/>5$VI2KA\HTBKS ]%P-=)3GU\O@W:
MTFQ'(6M&R3!R(6GVM5R4B/U_6"YZ +=\?O;J8R$:VF Q^+8K(=5#6\-7,PX>
M5%7G2 [%M!^,[+3#,MRF&+OWMOLQO.-M$7N^.I/\R/HUIKU&%?,H' 8JIR.:
M2WRDT^-*?*BAC"(VS&A[@AI$+9$@/ZZBF1RL+=!$Q]]-B]&Z4/( ;+W=8'"K
MSC%;.D(&954]A'X3]=COMN)A:H0*Z$%-HL1$TD2GNCX*BX&1B,-U,F6'82HD
M3L5>@"=LN>N()CCYWH/LCU<)>S?GB3-9=2Z2!] G;8V.1H5'DLE ,+VKMF=8
M*80N=HN#(DZX[5:BS>%;11]J(W.T8SI@]XVJ7E_7GZT6H1R3K-DYVX1XNIE8
M6A&^:1[$XFDM*ESH!$B?CTYKO_56M-K[ME-F1ZB+6M\C[9Z(^IO.A5!#<"!@
M1*K4*HSRU;+B>RT(UEDW=9O=,/H@<Z,@1.^;0POC5)B H\));HG\:9(^US?5
M)5(?S!K@,C#*KM+;\^! L%GOT&9JN C0:_3<P'J@$Z')3JQRU0ZSM&8 D'EW
M-P)[#IF/V1S?T:':YU4CVYJ4[FY[_35UFMY:[*;9A9FJJ&#?5[U]N*>D"!:@
M/!+N7]DV'Y%=63 #O]^\[S2ZL2#5W])]8$6'<W79%T=ZC*??.;NGML+OX4-3
MHWA*@@3NJKI,=:VKY2_EC$NR@XB/1BI9$AJ;;M38L,I\%40M9?QI?$WS-KTM
MZ BI-^KDD,E0RKXHZLW;EO^BAEAD=IPC3YNW'2MHMU0\G3I? V'T;<<G>T4E
M).>EJ(G&PAAU04.<$),)")+/TVA,0KJ!Z(TJ:'6)C$]5(Y:W44AWB[IA;QSU
MSE7=$RP ZQ7@?82/#-N=C"=!^R+ER*I&?8(4J$;GW/_CC=FGC!QI0*C(A# O
MGLC^IYD36BKIV&JGM==194)8_@ !A +I+)#7LM9UN3K32^JKXR;10&)F5ZH]
MR=*)GV.H M7O 'D.0T1=*DM'A12 IJ).G>KWN+7SBY]_[WN75Y22*/IX39(^
MQZ 6$"3W\W.U6-:4&K>6'D#)Y0Z;&-&#45P:(HEN+<3<8AHN#FGN$.\'OXF/
M+%D/(C.Z?D],O.-;TW-99($1=HW(%BX<)83=V(I5R?A?H8RA9[!U?Z4!:E&(
MRR:4C1YE-5A*#??;2:<6S<JI/Y(0@$7C/U(.#-0A6B\AU+>0LB)2I4"'(+*[
MW3M*=%JR@[..)]F_![K;NP865_O5[NFV@+]7F+E<+)TJ55<)_(UL+@EG_UK2
M:Z_8;1\ 3?]2JMZ?6D7XW1H!A06'A6G30AO]PG:Z8\CX)L%=!;&Q5HE6-6H_
M0!D#;=@)W&Z4U[?H>)!K4J1?-"O@ H\@1ZSD^^I)'TGM%T =D.VE.[HTNP3[
M7NNJ\JB+'+V!!-!\K(U" HT!+N!&"#-X$KJ:8KP$ S*GXS@L9B.DIE(-=082
M$8'=!AO7D6;V:;= ,GV;G 42UM=M9QA%T,^Y/4J01[$O!/U*".;X5]Q*T2/Q
M26\NLR@>]7PR3L\1%T2TG3*" L(#"LFO3+ \,.'2"E02CGJC%^?7GUZ<=G0[
M%=@SR FY^39QH-9Z@8_#D.;2"#,,%S/5NA*3X,Z5AD3F'&X:QHN>EUCCB!N;
MQSZFVDRS3!R567,W-\S@6!Z:*TLLUXMRJ^*Z]*"G=D[90QQ[E6D3YLBZL$6H
MF.Y&$R)4C4\<,_$QHR'*IQ*)6FC.-8U?+NIDFF'<LY(<>&3YJZ@S2CBD=,@>
M)M?V<J/ZF"(6QDT_I21GENWXV@@81QN1;@1,%S5QHR;&F4?P'Q?_PC#TX8;K
M^"<JI/X*V)>!@AU&R2'8-\DBRK\X&/O2_!#L.ZHU@G3MH])%UA]N5;,0$5!4
MC$ 90.P2Q.KI%F8*N1L#NUV2P==B<;?L-_?'L:O@Z$<X+T'J(H_*8\U=A*G5
MH1C@>]/,,GK1G0+K4)-:0Y4 ,+O 4$%T5&>>!+\*^9M/[*[:P*6V"I;C(7+,
MV:H5_;.V8)"KVQCY9H5V);^K[U3[2 ?W$<6OL7^=HP:_OH9NZ.DW7H)U<NQY
M_'HBVB. VA047_I5*J2@\^@,]B@S25G._(A^O(K;FDLF?O->_@L[#7Y4;N60
M$3<>IL="#= 1MNOD*K2.:USQO+BG77"I=6,!E!V-"AV#LT3#OB40^9K6<[!^
M+2SJ%,,F===:@D.11"$A2]<_K?#O?_M?N$9J4M=@!W>X\K0-04+;'T&U6"EQ
ME@H1[1%991P50E:7+DUY#X0\76AE& I;"7?8+5;4@IVU/1:=L9FTW%^G:T$C
MAJ!ELJD'>V -&QV$\5\V%JL],D+(DNQ"7%\6G\N-L@AQF%G1=ECOV/X03>:R
MQ#>1,PT]N*V]2#YGQ>^Q8.,!-8[%6^E[@'$BH([41.(=B_I13 \(_)T\I7M,
M=6ROLWUVU#5![HAZK^NK:7F8&]5[G'E^BTOVC$1LBB]%M9#65SA*6H;&>-O;
M@38;*OUZMR.;>M.#A,Z7.4J-8TX RRD: !7SDIW/=\5,&.PDEB%D$=C2'DEN
M]HY.IWQ&<^,2]<M=75%&JX^]PF/IFF#QO'7? 99Z*448]+X=6YJ]7BK)TNA?
MR>[6%WIWZWYMWAAL*#'8% 8"53!&)ZJMQ'7^\YOO;XI%U6"H^6_ZC-96?[%N
MF[>A!7%)F=S/L^DS^]PE"95#E&?9E%N81(_G5>$'*Q&1I5408A<8J&.A[)'P
M[?K'&9MIN9 B>[U%M0P/3.LV!RI,_E$12C$ 5!$YQ!2-KA<;E%=:&(EBH2I@
M@&8S4AF%B\6]2J>5EJG&20A"?))[K2 MW*B'U6FP7=%58S>_ZW'0T(E.4U"P
M SH^K!.Z::A+N]$8[Q_1-O+_:ST>OU%'Q(,:('Z]Q.E (DW:,==<WZ);J<26
ML,;9PHOFD0KE5;/(F]HQ(O:&ME>+0;M#XF "<:49LQ)MZ\>=UMH4*@Y'NBQ8
MCR:P&TYS^\YVL5SEWIYX.997">P*4#E6PNS4,/*G66BVZ%!W(9A,_7B2F%5-
M% *)R,B/?;<;VW# RXX&&")=*N$'WAJ[4I-3P3=>T @NEPE;*I/$Y?!U$J<%
M8:ETR,Y-4[$/O710,VT<?/4I"TRL?-S9D4I.=(R&.TNZ&Q-W795\42-I-VL$
MG"S%VJ _B*@1M+NJ:#D"I.RW$H;^),MMA!,6#&KF7AEXU@&9( ,.2-EG!6AH
MO@SGQ'2/B@,9F? C06Y.A[?*.]VW3['+KT2F?VPK5KO:G-82V:Y.A'G*2#'Q
MGFE5Z,E?2B_"X#^ 'K$>$B"-*3I(P19W:M9L-&>N[[1()6*G?]B!!-332Y0*
M(S_!&G_ >"VN?4(-)$33MY67Y<=U_KQ8%$\B5(Y41%^B9)LD5A*G(=Z))03/
MJM79HBIWI&/4L"=1T4D&[ZK&(EJ DY--CMM$.E8#5T/I6Y(-=5.59_7]BGQC
M,A=8A' Z<W]94O73$.5DPXN2]_=NO2I6-2@?1=M:+PKLGG2H$^VH[8C6-E2^
M*1J.&;VK27#)LS8$_HB><]/(G[H;<+FMJ=^HH9L=/0K:O-9V_$**N5AEVQ%K
M.O#T8;7!AB>T-$T9Z*+% JKB#UI"/>:1S5 C8*6]K2U_#S>>*N05C;2XBWII
MY2_KBE/VI2L<K5B-,C:$$SA9-0<LH<$0KAF]BT+-6D7;<9PZRYG 8)7V3Q.-
M55<@,2\E8<Y+$3>ME H*K18R;6-D![2E7&%<_(&>I20UC"HCQRY68UFU\6!B
MYA^TS?,$1N5K;&D1R!0V[%GV#8H$?JBM37%8-$6/SX_+DH/EB("L'C..?M%%
MU7DQ-:@6*%2I8JU85RGTZ!2V6V&)%K=&M0HB<XFF7'8"8? -&7:E]5K22TC2
MXT0[.D8356U"U'10 ABF/5HK(JN0GJ@MY<,GBZQV[XMI"=9LO#.]'+N6,"Q+
MH*")E_ZIITEPJ*GV;SQGH9Q^U&"@-!E=P^>2&!HVD ;.NC2I"9I,);(Q&[)-
M"R0&TH_.LQ5: =$E0+$PXK=V$E<^AJV'G:38C(400 ^FT,]1&&.W=MD--J6H
MN>UD7HNJ]B=:6B1U(">SGXB*E\Z^:OR7BC(--U @&VZY0N;/1.Y]L2I$70B&
M<56*A!_\GGW55C"WNA8_ZKC2!HL+LZ5S;):\1,;.7&6<M 5IT3&%-'EUUF L
M6 GH53^5>LE4X=S@>+":2#HO=].H>"Q>(='31[1G$MT"=J8EK&E%@N>@2:'1
MF6-99 ^3KNI*PD6)5BXA4,$R]W0I?"NH\/X>1T0<-8C11%A%+$^H!*H?!JCF
MFO=90H0>!KH/V@,U4*"^BCF5'@.=8A+U=;,S+2/R>!ZP)3 03.Q/UEHLN&2;
MNQPHVB:LYC)N?UXCYQ9L*YR&DFU-P_Q;L"T]FDX5=%?9R9S%0!J\ZE53:=EO
MIM%(K9;$O$1PV*\(IO=>8\PL];]34;ZM^73-];*ETVJWTFY*B[1TVC3&\&47
MZ>1]5_$9V5%ZHOH(5W J)QA>"9WU",AVFH@6"E,J168?G;))^#1)%U*'0EU+
M,;,*ON.0G]Z\_AYS_JD]V0OX%SI&]^5"&N5.]!3&=ZW)A'(#8(R5M'9S%H"0
MT@*921I$WZPSB>8*Z,R6842,3 <,D^<W, #X'-FH4.:WD,1C^DYT&420;RT)
MU)G\"?-CG1):I66C,I-!=7=AM^V""Z%$Y0H'BER6JU6Q@>O">I?RD0Y7F3$Q
MI4=*DJ+GLEI@&/^J[ U^T+?F]H]<%YADAP:79E9[1^ B=H7EH@M1].OC(E84
MC60ZTM0'A>S9V.@XF(.1DTH/K'JLG?NA:T4<D_,!EXV1,6=<'@![2+EM6D*A
M1J^6+O)(L4YT4*!!SUAKO))*Y$#4<_\:6OG,NZQ7]V<W6"X1V"/FPX&<@P\!
M];N\>7>EPIV*1PQXQO9*ZXH\>TV;02Z33%J-7$^AX8!\'H[S$%Z<#J;Q@/@H
MKT<]XX1D]@*V&@*E58KXLM9 P":4;=7<%2JR7TO*17,J1U>W7O1V4=Z(TS:Y
MJ5G#;05@4)D\<4HB$!I_EAQ8HF44"&&U=;:;KGA?YM#T907X; 6 "^^=(;AH
M0/H7>[&HE>A87ZP(1.115?2:Z4V57\NL&AG:)>A.WVKYQM)<&",N*W;>@D@L
MXA#.L'?O+WCTB!3B&%BY$^C)/\@B ,8[VB:^D M31K?+0I(BRET:V GOC'T)
M8PG02 ]N(!4.ZJ2)4BL=::01'12!\*X4DN@A;!P+Q3Z:3_08X.>Z[)RH#,9>
MB+!V'DA_B["-;%'D2EN76#K^S;L;5C:$R7[>R9HCJZMFS=>:^9E= [L*[SV9
M,^9>DE%74 VJ(O*+'F ;ONFV.,DF,I!4O25<.*@+?Q%$CW.PBM5J1U8H4*<7
M"Y%PB"=6=,]+9"5TR73F=0LYNG81IBFH)_D KHQ>$! ,(H(FPH%])E1*W+'/
M%N^.V<6-TP'4697,0A9A!O(F"D\*KU461T"MKT3'SZ+VKBMJ&(%4AZLDL %4
MN(F <57-9Q _2D=ME$#5PBM6HDP6O/*EQN$6HL)%.!E'P7>>UD I'L2J((G]
MU$0K G8'PM,<"\V[,*E4)5H1V"TDVM/J*M'L^E6-G0W=G]HYMY[T1G$V)):"
MY*R9LQVI6&L;I!ZS48[%N+&);IB).#Q!Y&"CTT1\Q2PM\B/042/J)LC?2WMQ
M#/]_]0 [!7&QT=Y()S','U /$SE51I7A=1.?7H;,N54+-JR&QGZ>Y+)>%G;-
M_0;"VX\KS77CGK?_-!R2G&R'/6<7SQ26G BQ6IV$CT6"L!0\?:_!S\=@&_U;
M59:7-,<X%8'#-N2[R,9)UQV4$X9/%7V _@:!O?KB&@TK?-=DS _;?[_4L8P1
MY9QQ2N((?ZD_P)_YOS_A?<.J\"+F3OV[\W/GGZ^$S V'T&4E2>I' 9;OGD;C
M,,;J'0&9AD*,W&T;C 01>I2Q+\TT'B?81(*I0YQ- /4#+TW&HCL"U[[WDRCV
M@+O$H9<E_B1./"00L?<3 W$DJ<JIQX1CQ!.?BHE'<.LB;-,#0V21-T+58((%
MSJ?!.(WQ9M^5%!"I]\9P_4_;>0?]HHP]@K!76.94VRLHPCDV'(:Y865!G%-F
M!NP\PS8 "$\";+?,M54SP,F.GH5^ L_6;4_31B9CCEY<GW\B#J@P35X%S?+]
MTL.G9/RY^/W9.!-C)Q1JJ9XDXX#ZN$9D2$RR,>"2Q(WN6;Q1%;HQUB'/L/E1
M$HZG;3N8ZTX.AE[N!R8)LL0#3@XOADD F(NO]A]P/ E@$CQ@?@<&2-*$^HCA
MBX>?HZPLSC$<EH+WCI7HF^(7AP>U_?$P=ZDQF.7MX:COXA?"&10H4>4!E;;"
MTY%)S%RB233#X,@+Z1963U-YUJT*$,>G_D0%9E"CHH&OM4=%=2HYOJ\5!)=\
MA:K:W);WU8HB!0V,$4W81, T/MF(ZG*T'SU5\UH8-[(D'2U.6UE^;D:M@[;D
MA@+N:_3BYM,UW0C39]R"@4OPR<(K"&KA#:(:M>RO%1%\W3)^^Z-8.NL$G*$P
M-ER34J#>%S.0,6%"R^;*=6W4[[),D52)T1@Y%DT Y.JU,K\"7C07<>)&4)KC
MI:$+4?U+[SRE(NA&6'L)R3.V,7G7KF0DS.6G@ JK\J["U]6S)_0T6?'*K68@
MH!B0&<8\ <2%%HF.1*DF>,WLH9SO%NQ,$6[\UFL?44%#A7D4[ N,9DR]Y.>.
MEH<H;8BVAR0LB-Z'A)"&*?"PCI'/-5$A('!5=!_PD4#;%#PO2R!A'C;MNUB*
MB'CIJ(:W<<=_WH%&,*]F*C[![BQ0-?(B]+BI65=HPP194V[+)>UTV0]7+<^7
M]$14<#9P#3#WC_-4-+?N >Y3I#6@8R*ZO2%KCIWJWWUBR-AEC:9E>49.78>"
MAJ@K*:A*;=!0DJ7'16;)$9QQ0Y&()O['!@#U9KBV 6IMABOED%)4=5U_-E)9
MS237;F+KC_V>?BN75T]MU<IV6RFP;+M8V0FSW>Q7O:D!MUYR%H8XU4 1NKMH
M%*L5(#Q5*%<BB)$%2M-/QFFFS=XU^!V<#HG^H:2M*;_H3SV5@0EDM:-H370%
MB!+>''PHQ[$O@XJBOJ[@_MY5V&.+ZLZ(>/,K8&<<BS62'T_M"L*@J>$85RPH
M$1DZZ*&7(FY\QB 6-M=A%MHUX;5)9>3[W+1N6SUQ7-R!Q1,53E@30K>[%(UG
M%J5* <6#@6>NM^3C&;WXX?S\"H0&51B[6FJ+JU:J1!]'34KG2]5&V1#M?8OV
M[V!R]B>15+JM9E1\ O?TJ;R7AIWKL_].A.!)UE>1DH$0VWAH<TXD/S*11P3R
M B/ 9:L(";S';I#B  1'#DK"TGZ[>252&REGGK/2.(KK'O5RG&"]NP64T %Y
M5VV6+IMDYR;-:SH!#<^N414A[O[CFG2B$:9T7O^(N9S$\<XFH8\)E!<*/W#G
MHYMZ#2O(@LGI2^\<-C/G#:G */WA<R!.3X"%/N9=,ALD$5/UWR'N1"^3#1M'
MP&A KBFK>CRIVJ3T>TW+IR_U!%!M+%0EZ,00?'3%)+&P!@=,(]>\#&%!S^2,
MA3>1MKEI[9 LB6Y.?6K]Y%XLSHA]:%[\].X-H"_**L 4 7T;0#VA"CC+F>%$
M\/4"Y'8Q!NX8^SHQ/V*QE?G\C!0,F4]0M*6^5#85ZK8JFPI["S7BN$5,F9F)
ML*J5H%!HZ"QBTG1LJS=]>R:]Y/>RV&5K$<0P,IDKUEV,K]^O'J'>#$OH=LMR
M>JE $*P?O266]6*'[!V5H!#W=H;UJF +*(W#(356)8FJZ05Y+8KIP7M=Q0)6
M#$*"1M-)*"5GG)EV-%PF;S7GLIXR5!M5*8#6EL4Y)[AD8LS*3' Q^P;V/%0/
ME$0T8CL&ULRY!D96E![YB#!F8!&TE4B_-0.UG.OK[TLM\SE4&!1+_R=>E$[\
M-$WI4^@'86YF%$U3'_01;\JM7(W,HA,OCE(_2S/Q*9S$WJ6Q%G?WA!,08S,J
M(HV?L)/O5,RI0SH+_#R"B3''-';D'7'+[$E*#>L#S(4*2 BA6S93B8 B-HIP
M5@]6;)ERB=1E5?25I^Q7DG<KR8,DP]TO&H#4S8U;/"J)SB$1?P:AS8R)T)!5
M3+%_:-PB QIA66[-P!!SU'/VA7VB6H'4)47P_3^:%A&VL+M*3KX37FU0(02O
M6"I; ).IUO8%3$,8RX6#<X6" 7HR44DF;&Z?/06\Q):=2#Z8^I/Q<:T)95J.
MZQZ8R,W( V+7F'[ZR%]%$B<)9VJ"_8/SX:&04\F^="3-"'[0:!#A<-//;9UO
MT2%4)7[*- $R3-&251U'&9#6YF-TB1(7V]1C+[0HYKYWMH8[[S!P2LKO6ALF
M[*YV8C4J[%"+G^>71- Z>89%)0(FW8THP3"OL-Z$U"/K1H/9>(\P;E:HY$1G
M&W=55C.5=M-SAN1=<^X=2QDH>X,N[K:0MR5;1Z0U)63I^LNF9JV-ICGV^9=X
M$5$3:XNLO%6K=TJO7.X/A=>WY]>O2'H5T2\@S-(P9Y.<!-E/?*+>6X0/YKV@
M9-9X/R.B7\!UK9<8?MR*JO5NR^'O5'0#KM,#MIS\(HOE4Q55(?E06#''SW:D
M)8%&'@A-'/:+D\_4Y-S]24X^UM?,AR4N$A8R64G!4-E^&C4\S \*0R7NFFRZ
M)'+CEF3DOZ^I0-^F#?9'(ZR<FI:^DB8F45*2Z@0WZC*U2?>&54NL2K6!HMQ[
M^E)$[9=FC5:\ ]9BQ@CWGQ\P<L2  <<5S4CZH4*B)76L[8.@CQ%C&!N#P45/
M>J]/85[7>2;5,RF:UKQ#UQX0K230X_(0_]<<F_@.=?O%DU:W"A$.]1$6E<D^
MR0!1YGA)CO0MW3Y1_!#RHT[!6?TID!MMJ[Z44'L,^T'F,SBXK1PI?12?W];-
MZ7EQNL\.6;:CR21VI5' WHG_%(;X6\%0,^+%AV6;(GQE#5H#P.9M!K4THMM\
M76&;A[LG28ZO.@R5&D2_:]"5,2M%G%Y[MQ5/(TSG_L/R67:?:XDYA9XD2<^V
M"4&WI=>F; NYQ*+;A2@H!"_/10J0(M(SF5W<6G?;-:EY?.6>EP6DZ'?5'5A6
M>J9E*E5'#U]2>AA5K'=LF#L 2IY=SKL*CHX VF'H%<FDQ7VC-YA=Z5Y#Y0+K
M9W-;!X_3JI9+'=(0H'0^Q0Y:QDW"JK8:ZQ[,0JO)BRY>G9OT_'T+TK,K#DPZ
M;X4]_T47OW2I$:W'TC>DS/D-&YT!4K>RVLY,K[:C21QV-)H@MAIZ5BNG<(+?
MMQ1;.Q"Y""[-*,T" +<M=P77+DK9$<I($%6W7-I?D-XKH1"^QV!FK%5#O;V4
MO]R7K<-;>QH3:!D"34AH>>_ZB9 #"V6Y$R9.JV=1)%69I;6I.5 G)5O9BTO.
M,)4FLC@\M?$!6W.5S'NEZ5DIU6155*7S1+YJT:O@UTYJ0RE&38-UJ]@]Q_T3
MS;[M+/-Q64Y!FF1>DF@HKNWL>;PHMUI)"J.4Q&9Y''=[V,M1YR5:7>TY+) '
M7^CAW&<<B&%$>(M3G 99>XK%DD)YMT)JU\A"HP6 RRSBKJU*<Q'C9L@G-D/#
MA:PUWMHIM>C=[H\K2>"VJL@$N1[NT*VLG]LS98CI/_S<OL9'<I0_Y89J;5G>
ME&OASR9CE31NJIR,-T+$[[[U3X/6\0:M+@S?"-Y [CM.BAB]>'-UC34W^T[K
MDU449K5;(@6M96N>54WV+TS&$YP5U;==*QJ6^K1T<^VPG\.+//4OE:OFE7-9
M:&&.I'BN0J2ND6"34C]<1(H\EP1^F77RKG5%_3IS[D'347#JPM3<#^.4*AE@
M+FL4Q7X<=PHZI6$ R)QYR63J VGMXFN.V.JG040C  ?U@W2BXRQG$ OC\V]D
M/"ZM1R%S*TP8:(T^&\RMS</43Y.8$G536$:290[LAI7#_*D7)8F?1K&C-F/H
MQU'BQUD$A#/)$G^:IYB&1$T?K!7"TY,4YH,[%?AA'OE!'+J*3[EVUPN7#I;N
MR6NV=W"B[>%$VP5[CELA$9U0HS2 ^YYB2.AHBM&? 840!7X61C[FI=$ D\R?
MY(G DK__[7\>LT(>+8[])$AYM"CTDR34CQ^&?&VXXMFZ@$*S49;I@-E&0)QR
M6"OL)P1$3:8#^QEQR_JFS::5!C/-M4)Q3'Z89'B^(I3)#[,(8!62&[X@2P8J
MJLN*+O.V &T7TUF/ZC33Z<YJ.W1.X*"0WJ8B=P_I-+:9#'ZM58S)']J3KS[<
MX9T4T4Z'+>%3P*_,--1;\E&(JK"J2!+;[;5*$D(RD0K\,[I*ZNWKN1C4P:O_
MBOZ55+"07?]+*H/4%NOD%-@..&3"+H4S<84PL7554D5:M,T,^^4>2GE0@W,L
MG/6(T>-8/&M'AN_+Z@X9^(?WER]..>TAP5@^<1EBD&,RK!SP?#3#Z@;')36[
M(=;U2R%05(RGL;-SV8(=2<^K35W,L;?FU:+X2^$HGZ *$&@E6CF5UH]2WN1)
MAE3E6^1_(%76)779[5FJZG?"6 HPV3ZB?X#-N(TRPAQ%+J6K!'L_FFE66@-7
M44>3DC-ESSUT!F-D( 9QGU&\'*5,6O8L' KCVQK'N'I?3,-N()4.;;<$;R;H
MC';AY!M ^T QZ]H(FOIH5&$9%+A^[?%?#A%^9&\L 74D3Q90]D<H"\\*BHW5
MJEKNEE1YBFJA3$"J(.EB G=@2I] $\F3U+MJ"VOQT],D!YX[32(/*V.!>$2-
M>8G:?BDIE!Q%D&D*N@P(EI$'DED<2&T(ZPM13D$$$D. F5\3L7SER /9-(!Y
M VRS"0P^1.8^G7IOA&\/E,E.""F11V6=43[ G-(Z$V#N>>:!4#<!]<<B!9BG
M%L1>B#GTF0<"6P[K>JU9P-AAJB-SF-%020J23^1E,<A[4[$'QRH2GCC T.D4
M )>#E@B@NQ05_-B? :2.NK-1P*IRN+*\CI&9(Y)_\#\8G3W"T.]3>7-/0.8#
M0&4D%X6<MD:)> CT5IA4=YX&M88(J+\UB58 @PF*W0&J ).]:)4,H!7'P*>P
M]3!L/U@81;E/?AI&XK\V1N$3(&9&:23_,#KA]QB3/A'_[: 2#3S)03C,U-^C
M\0@'04E^FLD_%A;A(R"G1G"%Q)]A%*+G<^SX+/_TX@]E5H5^& 7RSX>V4ZJ$
M<)!247/UH>_8.Z^!M#F-U=__\6W_SR&-@PJ@I''I?:^-WJLD0)F&KH3[VNL8
M1^G@ X02><OC0[U8/)UQKT9EG"^,_'"[S8T6TR7YF]GSQ.PQW<QV#05DWP*B
M^ON6Q'41MM+U;ZR01;<AWF[Q-EFJF<C$H'5C7:\D+Y*5N@<'DTQ?\7AE+NLU
M.%P2$\?["[)DG+)FF.6Q/P7B^&I7+>:JG5&U1.^*8(] 1'/0W/,0+O T":G"
MEKC^QG/)- +,CH".3X%U)!2=WA;KNMMM5E7S0%,@W\CR /Z"-@[*U(5>T8]+
M9(*\#M0W3$'\@/L41K&?)0&:11(DGY28EV9P+X$+4<'A8C;;47(YJ2G:Q0:R
M.076D>:H98^H/I@_%704:1U:,$*Z8*"O@[876J5+9++,A98LPZ3MO.4!A]E$
M#TN\Z5W!<+J.P(@C$$+X*="\"%"=D'DQ!D!,<J2?Q>J^(A5&V%/?K<[6"Q#M
M115.DESA+!.@V2 A!@@]X)Z7RODAFZL(RRVU#F3G"3):.+B$TU3/\6:>B>8?
MPE43POE.@76CW1-3F%X[LIU$II-(<FJ!9-33PR(O[?-9D.&?"'#.+(X>$<.:
M3D", 3X%ZA7*NAE@'R:#6@BF,PHDH:,0!*@PP9S?432!E_.0\"N9)'Z04OHH
M#!7"8O'I\YZ1VD)H)R"Q)"*W\ 298@SBB%Z=LW(=A:\YGOIA_]RDKG-]I4I+
MN_N:I8@R77AZ7 ,/2-/T6RAT5C,5T3)]+I$6Y3<'UN%XMR7<&O-[E[^B^+HA
MC[^L?$M$MRWA'OVXJ>XK\G^;JR$W 5^@$W6%!K'8&P'NA],IV231:C=A03,&
M9$Z(4\1P;4+@$[078QFD\PRL9!+"&#&M9(JFVWTKR0.R9R.UG@1DYZ"ET(9H
M*2'<*G&77CE 6W2R'?O;DG0/UEW>L9^TNYT^ASUU\$7LQQ153?]<Q;N8.T (
M=>:PQU?M)*X6Y1SK>A;8I$@6H?/,JJNF\T3_[HURCRK1^Q,\A.9,4DP63QQ'
M=,U1:FAR>8]UXE#T?8T/QJ<]G>I&R:F1JRO_&P*]"/)8^P[_!UQZ-5_ @F0]
M,S%(>LJJ1HXZ9]Q^!CDHPJ3Y[SQL!([>=EC.ZG8'PBWU&*"4242^:#+5_@;
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M8,-Y%^PO;,J>F:UZKPB]3<G!R7J9(IFKKI6FM2NZ6$TKEMA&#Y6 CW;#;JL
M!TH;<T&R158A-74R:_T_J<[1( Z=Q$*2H0=[JEQCRI#")%F4$GBI71R][4")
M:P3^[:O 92V47_2'HD"7!*1;V2F*TDW<_:*Z)48++Z9Z&6T)9W+\RA96DK=0
MKRRM:V1?L6W5V8F&==>([CB3%32_MK,CBNY D?-QWK,AE9EWS*XPV>Q,!BQH
M#3KTLBHLE%W49V(YR'?4<[BRJ8%W05M1%.#4M]JO!'\^!/[WYQ?>[\MJBPU\
M6Y_'5Q] =MI63777XN7"RG=H\2-:TVZW<[=@M/S4;&BF!>E07?35F0K\88!Q
M-C^EPDK25]X5<%VL$&K9Z1SQKXUVP$$$W=W(^T;T8U%]YC+6;0LB\@]51A]$
MB<<B ,D8SJ-,8U&*>C/V2%.[D4\-U\-W-T]H88R=W^RF/T,13AQ-9?(^1+=(
MU<>%3W!_+:X9!(>O&@?HK%KZX<*LK>OS31:.FA//%HZ#J;5PVQ?2QZ?KOGBY
MPX?XIPRKR[##+<D/<7?IR52B@ R!SNP^:^6?,^5T6=W_V4CWZQOI#N2(R$:/
M5N]5)4NU@6[=8?XC]L+=AYO?M"/N7GS=/ORS#^\>7!QJ\78(P3FJ/]GP@?WG
M;7=V3(N4H8B4XPO3#T/T_]>U[P>HKEX2^QG5V#MUV(?/X)\EX?]9$OX?61+^
M0+2G$NZ#9=Z_ 5K_L]3\?Y92\P?Q>BT'7)9LAF^Q0+@+5_Z3%A7O;N7CYKY8
MB4@9 --KBEX%S?5,E YR58P61?1ALY>B6.:EJKFB.D)OU(]Z/<)_N\0LDW?;
M<ME8Q:@_J+*$6C&SF>IT.ZI6JJ:3=8YX(BI+R"@W>3FV*V-]=!K#W'W81A0>
M+)IG6?/F$1#N[YZ?)6] W%W"\0P4\]?>Z 0/$%9Y\U#O&B ?%E+VI,<_#<+\
MHVO//7'",IO8&J.;H'M4*KFV_W:?W\O*UF1JY!XV@YO_(//,K1_:"/ABR\FI
M,DL1I!(J5047E#5147:V)]BOFZ!.]<:Q:'&U9@@V6&+0"0"U.@I%Q!RKF2BD
MM]CA#;&3WN&VK_I7[JBA;=ND5*K]P$_:>IQKL(BNWC2=U\#GI'<.QXO*7UO7
MA6.ZR/^ 6T?71PLUNY+]WBY.W"]I8,+N7@<A_JUW>\&Q_Q3SC"*PB2[KC:3F
M3C'['"ZO M*U A*P:Q&(>,>E\HSJ">JF7:F;-G3[M6%+8]C7 DQP28<V>-7I
M5_DUI1K@_G] EPKMMZ4*=]O_Y_\V;OX^2O >2[=)H[*@*,YG)H'Q#$[4?0XD
MK+'RT.Q[;I+N?>XC-I60B2<#SYVO-]9S<-GM6AAOR]LQZJ#[!J0-1\$@4(ZJ
M6-!]V6G<\?=GNED8I2?>6#^:ABFN"R[Z@+3E354LC*@W)B22 V0 :FTQS._C
MB8O?7QD=*7#3PT^\KJBIZE84ZWHEBHMA*XSF81 DWE^]R^*S;I7O2^I!^;/@
MRRM:<I3E]A3>=^&'-4>-QOP-G%K=],W3>>4:B.(#6H&J%<<_[GOAYX*2=[;H
M/Z 56K? Z>QX)F3/#?Q CXUU1UQ^4.O\<]?YNUVH?S4],8>^9,6O'OKB#3H]
MG[P/@,\/H%."EN$@R)K#PH)WV[3$8617EMCA"Y*X+XAQ<_?<Z[L=*46W3UP\
M2X6YK/10-J</#JLJ5Y:?YYI\DY="AG,)9X+)$XEM )).6ML2C'6;RRJA8K-^
M$/1! [A8[&XYL-<M"EEA1'O BRJS!=TCV:S*7W]^V2.WU#[$ED4-K>[7>\L'
M66]8I7*L<^JK\V/IC(>5^''W;FE-(.Z='EE@9P NWZZNSE?BC8$DWEO58N5X
M9.A)8*%(J8.KN=B[D;59T/'8K;)BG5*G5(6C)H>JQZ&!B;*OC#(;5HD-B[[T
M5F/Y\/[RP P@2A66)5[LC=NE3K0B)\07C4HLMAC?F\+\;^\I^,#1>_%K2<ZS
MRV4\ ]^Z$')3 CL1WV5,,*HH]!.G@=(+AX/?;6D9KD[2S1 _&EB8U6W1O-YD
M;@N4=AZWQ?GZTK@=^K,SB]M:\5"^]G#2NUOI/!14AGXXJ!3VKP+]I@R)%BY#
M.KM19*(/42DS'_40FP^WIGLR)*G>#481>6L\4;GD6NAS/Z,^=_9:Z'/GSG %
MW=N,I+0'4_0*BA@11W;Z?N1U:K9" XY=U[$M@[!M)^0,SDUG0I?A[[&MRUWO
M;K=WNX5J]&)O6-ASR&[?#B[+=)F5EN@AK0*U-;D(YUEW"J<XGN-"&^V$W4?2
M<?(=QW)^ZGWF@^B6-O2[]K-_E-0*"[!U@H/+(!Q/P3BNP<$%.A4(["<<J><]
MHP\EHEMG9.=Q]T*CK4?0^TA?08+^%WK+/-RCCKF7GNKIU [\<Z==B^Z )L@'
MQ3 IOQSTYF'H SC3YNK_Q(GUSU!>'+GY[F-T)-5;3+PGLWW/I"X"Y<B==S[B
MZ8_X6$RH5^PT$M4!0+J#M.>AKY#_,7:X%7+)?JA:?%C$?%]RNF^FD3_C?4*?
M[GM.@P8E:MC;LM/2K56XL\EM/7\ZM2EF-XW<,KZ,D\A!9_5PX(\K1_BR_L#-
MHV7TZL\,[SZ)">'6 @X)/+;AF^7V0$9&>/=7S -WO3)L3',F?MNK">UM=?.]
M[2-, ^LE+=/;\;R]?O9K8X>S;9O?;;\9A=:;%+7O&@ZSO>T-!K%MM--2O!WX
M;]NAC/1N>SVQ?:)V8K>-4;GSM8&4;GMFQ^:LX'9)"[H/8CJWP\'?&_UN;R!,
MK?<I,\'60F6*MPWMV(:V(\';@;<V/9#YW$::M^-\[5W;F=TVJ!.;+%HYW8[M
MV6?<RY&N9*(%)8?(7(MG<*'>M(V>FEG:T\X?U0 ';^5K;&C[,V7[E+BAE$#G
MUGML4IP4Y;37[351"=LJKMYF%WH ^&$9.&]1:&^;-,T=[AVM "5*;W5AI/[I
M^73#NLP[0^]IUM1;D_*CN7;N\-N4P&5_Z2#5F+MH?_NJ6'W6)-UN6:$#]>60
MV]M;@=UD=D#N#KAD>_,_E5_JQ1=*@!7/S9S/F1 BJ%@387*8)1AK416:_;(-
MXAZ>]M+XU5=!',<HJD"7;9X=C'/[S$PLU0-"AE=YM2D:+,6!)^=0A@0"%ZTK
M3D%B&,Q8FA*)T![OG O]7M.]GQD9'.YGVCA<F[:LYK $6M,MXNA',J?/J623
M-Z+S1N?S,(8%+CO!\X8F)_8C5GFCW!S,P+5GBVRN^NS9?E_=/PQ.%[I8JCM/
M^.77!,!<EVL9/#+)!V)"7I<S%1.2]%"+BS;=N:WB#YL].4B,Y@+9ARD\'\Q@
M/(G<S3>+$#S?W2M#H562\]+1]%W1#1'4^YSPT*GKS%N'\W93$,F8%T^BU1S:
M9(O%C.PIP$WGI8A98$J#T1SXK#5/,*'O;8K=&:!#JC[*7 HJX$ U:8>#9JZU
MB,/?D,$:^:4\( OD&,84"@MX>V3.QP)F2:G[$8IS"L.A1]@6GW<G<S_\H?XR
MQAIH1H"5\TDC9$L&P!^XEWVKH"6'DZ%=N0*W^F?7P\'ZPKR,:]\_E$9%>JD#
M72FQ_GCH&7GM^J>[P$YJ%"]-N1!##I#SW?:AWI#<NRE5HJ,0_ARD27M>/$2M
MOF>S<H$7NI3Y&=I@Y&@JEL[1]/>8 K4OSGTM9%3\JG[S1B**$@-,W,@C)!81
MWB8C4SG0C3K9=18ZW[L5#HZ=8V+Y1@MVM8ZII4D2QS'5<P9OP:!_55]:R"0S
M0M2SATWWOOB%:L;S3K7X6LZH^0+D1+J];TO9(]!Q&A?*!D\.%G1X>06YLX;I
M,F8Q4(\_T$B^N&(X])I97^<C-$(TW=0E<'NO!@HR_M4[E]$ <Q'F/[ %&VJ'
M>?VT(?J"Y0?B8!P!E@7G<RQ*U4M1FV'XQ(*)TP[;.2@S5)]D=$XFTL_-S-H_
MXO1Z2-Q53WGUKOO%MO<X,OX'=>\^];<WP7]8:SDPN7H/S#\9^=P4"'S\+1G*
M'Q_>Q+[" $,[.6:D(>2T(-+-R5<1CE=$\)[CTNSDWMN4N%G7;2V-YZL/+!KE
M>T/*_[!;'13+KDLP?3>(K'A(DY#,MZ% =I3YII1V< JF0AWCKY[C6]N4O:J!
MH1?\2E]0$^,NA^IPJP< J1T 2$Q'BP=3Y%2T,CT>^5MZ?-F?1=6F:K%WF@((
M>@*:M!$WCAND_=QV2V<["]!F0/FFWX"A6VGTSF[\^DP/V5$]TAR*R4!9AJ/A
M]\EH,Z9UZ]@;".8/!\;I U=<Y\X,@OCTYC7UFE"A:K^O.4[*=X5OJ=DY#FS/
MY/L;C]Z0T9)AR+4?YEKG3_LB&M4A;&[57QS"YHI'E+$0=0-AJ6=\0$NQU'7O
M4BUSL>![7P,QF^.@60((/@B<5_2D0ZB"[]C$.APX,Q W<Z@]Z5LMI[\V1X\<
M^PQ3"J=/Q4<HN3+7:M_#P^INCZ9Z</60B];IX"X(8E40:5Q*QW5_;0S.^"-]
M1)9T="]:)N-KR75[U4)G080>A0O7W:ML_[C2ZFC955/DHITP=0&D+<IA$="J
M^>S=8;[[ <;WP.7&_JG&)B7$H/:8[B?CR+;=&T56+*G KCCBW!K7(J'H]"\B
M5QR41RH^!ZQPL1!1S.@#*E2Q5FXYA19AI*+=(G8IFI![P<;A.F<8T?Z+K)GR
M#U]$=]:V)*PHY2*J-&IH.33<(&$RJ@-=(!(^1XIRE_\YO+J07KSG.+I:KP1,
MA$E45*7IM8P:=&X?@6,3[4 :KE9LX[:\KU94GQFK O/I'T)C9&&9 QYMJ\<<
M\K2V-N$<.695 Q3N&4 XDDSJ-/K(5S5P'OFF"=TC7QX$]I%C#2(\E:WIQ6[\
MU?7=8&6 M@K- 8@Q5)'F6[Q_+*R, CX'[_+(63H5;9Z1!=.M;V.14*XYTV?(
M<E'<-KP>C4CS_5','PY[3+/0OD%-PMBQ4V8]VM+!OIIH;]:^X2PZP$LT@"<=
ML[-;0@6)Q[138';U'H.UG8%N"FK?-\WV=_\'4$L! A0#%     @ =6&F2!8=
M(U0A @  1BD  !,              ( !     %M#;VYT96YT7U1Y<&5S72YX
M;6Q02P$"% ,4    " !U8:9(2'4%[L4    K @  "P              @ %2
M @  7W)E;',O+G)E;'-02P$"% ,4    " !U8:9(&-L78D4"  "<*0  &@
M            @ %  P  >&PO7W)E;',O=V]R:V)O;VLN>&UL+G)E;'-02P$"
M% ,4    " !U8:9($#/EH=L#  ",$   $               @ &]!0  9&]C
M4')O<',O87!P+GAM;%!+ 0(4 Q0    ( '5AIDB_X#:L/@$  &D#   1
M          "  <8)  !D;V-0<F]P<R]C;W)E+GAM;%!+ 0(4 Q0    ( '5A
MIDB97)PC$ 8  )PG   3              "  3,+  !X;"]T:&5M92]T:&5M
M93$N>&UL4$L! A0#%     @ =6&F2"L<XL0Y @  @@D   T
M ( !=!$  'AL+W-T>6QE<RYX;6Q02P$"% ,4    " !U8:9(?5:5P'X%  #E
M%0  #P              @ '8$P  >&PO=V]R:V)O;VLN>&UL4$L! A0#%
M  @ =6&F2+<:N&I0 @  ] <  !@              ( !@QD  'AL+W=O<FMS
M:&5E=',O<VAE970Q+GAM;%!+ 0(4 Q0    ( '5AID@YA:L8#@0  %\2   8
M              "  0D<  !X;"]W;W)K<VAE971S+W-H965T,BYX;6Q02P$"
M% ,4    " !U8:9((6OID^0!  !J!0  &               @ %-(   >&PO
M=V]R:W-H965T<R]S:&5E=#,N>&UL4$L! A0#%     @ =6&F2&<_*SEF!
M[A0  !@              ( !9R(  'AL+W=O<FMS:&5E=',O<VAE970T+GAM
M;%!+ 0(4 Q0    ( '5AIDB <-0#F0,  -,/   8              "  0,G
M  !X;"]W;W)K<VAE971S+W-H965T-2YX;6Q02P$"% ,4    " !U8:9(- V+
MU*L!  "T P  &               @ '2*@  >&PO=V]R:W-H965T<R]S:&5E
M=#8N>&UL4$L! A0#%     @ =6&F2/><9RC\!0  0"   !@
M ( !LRP  'AL+W=O<FMS:&5E=',O<VAE970W+GAM;%!+ 0(4 Q0    ( '5A
MIDBJ/'P=H $  +$#   8              "  >4R  !X;"]W;W)K<VAE971S
M+W-H965T."YX;6Q02P$"% ,4    " !U8:9([?C)TZ,!  "Q P  &
M        @ &[-   >&PO=V]R:W-H965T<R]S:&5E=#DN>&UL4$L! A0#%
M  @ =6&F2.361J:B 0  L0,  !D              ( !E#8  'AL+W=O<FMS
M:&5E=',O<VAE970Q,"YX;6Q02P$"% ,4    " !U8:9(L^^!OZ,!  "Q P
M&0              @ %M.   >&PO=V]R:W-H965T<R]S:&5E=#$Q+GAM;%!+
M 0(4 Q0    ( '5AIDB3':;EHP$  +$#   9              "  4<Z  !X
M;"]W;W)K<VAE971S+W-H965T,3(N>&UL4$L! A0#%     @ =6&F2!F*VPVD
M 0  L0,  !D              ( !(3P  'AL+W=O<FMS:&5E=',O<VAE970Q
M,RYX;6Q02P$"% ,4    " !U8:9(B8J-8Z,!  "Q P  &0
M@ '\/0  >&PO=V]R:W-H965T<R]S:&5E=#$T+GAM;%!+ 0(4 Q0    ( '5A
MID@<9>V+HP$  +$#   9              "  =8_  !X;"]W;W)K<VAE971S
M+W-H965T,34N>&UL4$L! A0#%     @ =6&F2!6=Q\ZC 0  L0,  !D
M         ( !L$$  'AL+W=O<FMS:&5E=',O<VAE970Q-BYX;6Q02P$"% ,4
M    " !U8:9(?W\9&J(!  "Q P  &0              @ &*0P  >&PO=V]R
M:W-H965T<R]S:&5E=#$W+GAM;%!+ 0(4 Q0    ( '5AID@416Q[H@$  +$#
M   9              "  6-%  !X;"]W;W)K<VAE971S+W-H965T,3@N>&UL
M4$L! A0#%     @ =6&F2 #*'I&D 0  L0,  !D              ( !/$<
M 'AL+W=O<FMS:&5E=',O<VAE970Q.2YX;6Q02P$"% ,4    " !U8:9(T_[F
M/:4!  "Q P  &0              @ $720  >&PO=V]R:W-H965T<R]S:&5E
M=#(P+GAM;%!+ 0(4 Q0    ( '5AIDAEM7FAH0$  +$#   9
M  "  ?-*  !X;"]W;W)K<VAE971S+W-H965T,C$N>&UL4$L! A0#%     @
M=6&F2#' J*^C 0  L0,  !D              ( !RTP  'AL+W=O<FMS:&5E
M=',O<VAE970R,BYX;6Q02P$"% ,4    " !U8:9(-TZ"'Z<!  "Q P  &0
M            @ &E3@  >&PO=V]R:W-H965T<R]S:&5E=#(S+GAM;%!+ 0(4
M Q0    ( '5AIDBW\XM&H@$  +$#   9              "  8-0  !X;"]W
M;W)K<VAE971S+W-H965T,C0N>&UL4$L! A0#%     @ =6&F2#/*)#.C 0
ML0,  !D              ( !7%(  'AL+W=O<FMS:&5E=',O<VAE970R-2YX
M;6Q02P$"% ,4    " !U8:9(2G*G@Z0!  "Q P  &0              @ $V
M5   >&PO=V]R:W-H965T<R]S:&5E=#(V+GAM;%!+ 0(4 Q0    ( '5AIDCB
MZPEGL $  !8$   9              "  1%6  !X;"]W;W)K<VAE971S+W-H
M965T,C<N>&UL4$L! A0#%     @ =6&F2) $6C&C 0  L0,  !D
M     ( !^%<  'AL+W=O<FMS:&5E=',O<VAE970R."YX;6Q02P$"% ,4
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M+GAM;%!+ 0(4 Q0    ( '5AIDB^.LC8L0$  !8$   9              "
M 55A  !X;"]W;W)K<VAE971S+W-H965T,S,N>&UL4$L! A0#%     @ =6&F
M2/FT1(+  0  >P0  !D              ( !/6,  'AL+W=O<FMS:&5E=',O
M<VAE970S-"YX;6Q02P$"% ,4    " !U8:9(ALIL;J8!  "Q P  &0
M        @ $T90  >&PO=V]R:W-H965T<R]S:&5E=#,U+GAM;%!+ 0(4 Q0
M   ( '5AIDAGUK"#O@$  'L$   9              "  1%G  !X;"]W;W)K
M<VAE971S+W-H965T,S8N>&UL4$L! A0#%     @ =6&F2"^TVW2F 0  L0,
M !D              ( !!FD  'AL+W=O<FMS:&5E=',O<VAE970S-RYX;6Q0
M2P$"% ,4    " !U8:9(3O_E"MP!   .!0  &0              @ 'C:@
M>&PO=V]R:W-H965T<R]S:&5E=#,X+GAM;%!+ 0(4 Q0    ( '5AID@%H<HF
M5@(  )D(   9              "  ?9L  !X;"]W;W)K<VAE971S+W-H965T
M,SDN>&UL4$L! A0#%     @ =6&F2,BL =\; P  5PP  !D
M ( !@V\  'AL+W=O<FMS:&5E=',O<VAE970T,"YX;6Q02P$"% ,4    " !U
M8:9(\2_=X[@$  !P&P  &0              @ '5<@  >&PO=V]R:W-H965T
M<R]S:&5E=#0Q+GAM;%!+ 0(4 Q0    ( '5AIDA%H[;QW@(  !L+   9
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M970T-BYX;6Q02P$"% ,4    " !U8:9(W.6=O#$"  !<!P  &0
M    @ '1AP  >&PO=V]R:W-H965T<R]S:&5E=#0W+GAM;%!+ 0(4 Q0    (
M '5AID@_UJ$(\P(  !,+   9              "  3F*  !X;"]W;W)K<VAE
M971S+W-H965T-#@N>&UL4$L! A0#%     @ =6&F2)9*QJI> @  ) @  !D
M             ( !8XT  'AL+W=O<FMS:&5E=',O<VAE970T.2YX;6Q02P$"
M% ,4    " !U8:9(+W$.TAT)   P0P  &0              @ 'XCP  >&PO
M=V]R:W-H965T<R]S:&5E=#4P+GAM;%!+ 0(4 Q0    ( '5AID@?M$5L6 (
M  ()   9              "  4R9  !X;"]W;W)K<VAE971S+W-H965T-3$N
M>&UL4$L! A0#%     @ =6&F2%@KNNH5 P  / X  !D              ( !
MVYL  'AL+W=O<FMS:&5E=',O<VAE970U,BYX;6Q02P$"% ,4    " !U8:9(
M,)Q#9_P"  #]#   &0              @ $GGP  >&PO=V]R:W-H965T<R]S
M:&5E=#4S+GAM;%!+ 0(4 Q0    ( '5AIDCR6B=?)P(  #4'   9
M      "  5JB  !X;"]W;W)K<VAE971S+W-H965T-30N>&UL4$L! A0#%
M  @ =6&F2-TUX6<W @  ,0<  !D              ( !N*0  'AL+W=O<FMS
M:&5E=',O<VAE970U-2YX;6Q02P$"% ,4    " !U8:9(#;[&13L#  !*#@
M&0              @ $FIP  >&PO=V]R:W-H965T<R]S:&5E=#4V+GAM;%!+
M 0(4 Q0    ( '5AIDC<;Y)B3@(  %,(   9              "  9BJ  !X
M;"]W;W)K<VAE971S+W-H965T-3<N>&UL4$L! A0#%     @ =6&F2 ]X@[#Z
M 0  #08  !D              ( !':T  'AL+W=O<FMS:&5E=',O<VAE970U
M."YX;6Q02P$"% ,4    " !U8:9(>7#&1"@"   )!P  &0
M@ %.KP  >&PO=V]R:W-H965T<R]S:&5E=#4Y+GAM;%!+ 0(4 Q0    ( '5A
MID@M8P@Q0@(  -L'   9              "  :VQ  !X;"]W;W)K<VAE971S
M+W-H965T-C N>&UL4$L! A0#%     @ =6&F2&(5&,HP @  ;0<  !D
M         ( !)K0  'AL+W=O<FMS:&5E=',O<VAE970V,2YX;6Q02P$"% ,4
M    " !U8:9(A=_B3/X!  "6!0  &0              @ &-M@  >&PO=V]R
M:W-H965T<R]S:&5E=#8R+GAM;%!+ 0(4 Q0    ( '5AIDB-8>I#2 ,  #,.
M   9              "  <*X  !X;"]W;W)K<VAE971S+W-H965T-C,N>&UL
M4$L! A0#%     @ =6&F2)<'/QE- P  .A   !D              ( !0;P
M 'AL+W=O<FMS:&5E=',O<VAE970V-"YX;6Q02P$"% ,4    " !U8:9(;'\!
MMG\"  "9"0  &0              @ '%OP  >&PO=V]R:W-H965T<R]S:&5E
M=#8U+GAM;%!+ 0(4 Q0    ( '5AIDBG/^V$,00  (\6   9
M  "  7O"  !X;"]W;W)K<VAE971S+W-H965T-C8N>&UL4$L! A0#%     @
M=6&F2.UEFZ_T @  O@P  !D              ( !X\8  'AL+W=O<FMS:&5E
M=',O<VAE970V-RYX;6Q02P$"% ,4    " !U8:9(EVLP'B "  !T!@  &0
M            @ $.R@  >&PO=V]R:W-H965T<R]S:&5E=#8X+GAM;%!+ 0(4
M Q0    ( '5AIDAI]%K.M (  'T*   9              "  67,  !X;"]W
M;W)K<VAE971S+W-H965T-CDN>&UL4$L! A0#%     @ =6&F2-,_OXMG80
MH(@! !0              ( !4,\  'AL+W-H87)E9%-T<FEN9W,N>&UL4$L%
3!@    !. $X 5!4  .DP 0    $!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>83
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}

	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};

Show.toggleNext = function( link ){
	var ref = link;

	do{
		ref = ref.nextSibling;
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='UTF-8'?>
<FilingSummary>
  <Version>3.4.0.3</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>232</ContextCount>
  <ElementCount>326</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>88</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>8</UnitCount>
  <MyReports>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>0001000 - Document - Document and Entity Information</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DocumentAndEntityInformation</Role>
      <ShortName>Document and Entity Information</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>1001000 - Statement - CONSOLIDATED BALANCE SHEETS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedBalanceSheets</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>1001501 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedBalanceSheetsParenthetical</Role>
      <ShortName>CONSOLIDATED BALANCE SHEETS (Parenthetical)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R4.htm</HtmlFileName>
      <LongName>1002000 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedStatementsOfOperations</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF OPERATIONS</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>4</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R5.htm</HtmlFileName>
      <LongName>1004000 - Statement - CONSOLIDATED STATEMENT OF EQUITY</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedStatementOfEquity</Role>
      <ShortName>CONSOLIDATED STATEMENT OF EQUITY</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>5</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R6.htm</HtmlFileName>
      <LongName>1004501 - Statement - CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedStatementOfEquityParenthetical</Role>
      <ShortName>CONSOLIDATED STATEMENT OF EQUITY (Parenthetical)</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>6</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R7.htm</HtmlFileName>
      <LongName>1005000 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ConsolidatedStatementsOfCashFlows</Role>
      <ShortName>CONSOLIDATED STATEMENTS OF CASH FLOWS</ShortName>
      <MenuCategory>Statements</MenuCategory>
      <Position>7</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R8.htm</HtmlFileName>
      <LongName>2101100 - Disclosure - Organization:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/Organization</Role>
      <ShortName>Organization:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>8</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R9.htm</HtmlFileName>
      <LongName>2102100 - Disclosure - Summary of Significant Accounting Policies:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies</Role>
      <ShortName>Summary of Significant Accounting Policies:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>9</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R10.htm</HtmlFileName>
      <LongName>2103100 - Disclosure - Earnings per Share ("EPS"):</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/EarningsPerShareEps</Role>
      <ShortName>Earnings per Share ("EPS"):</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>10</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R11.htm</HtmlFileName>
      <LongName>2104100 - Disclosure - Investments in Unconsolidated Joint Ventures:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>11</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R12.htm</HtmlFileName>
      <LongName>2106100 - Disclosure - Property, net:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/PropertyNet</Role>
      <ShortName>Property, net:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>12</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R13.htm</HtmlFileName>
      <LongName>2107100 - Disclosure - Tenant and Other Receivables, net:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/TenantAndOtherReceivablesNet</Role>
      <ShortName>Tenant and Other Receivables, net:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>13</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R14.htm</HtmlFileName>
      <LongName>2108100 - Disclosure - Deferred Charges and Other Assets, net:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet</Role>
      <ShortName>Deferred Charges and Other Assets, net:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>14</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R15.htm</HtmlFileName>
      <LongName>2109100 - Disclosure - Mortgage Notes Payable:</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/MortgageNotesPayable</Role>
      <ShortName>Mortgage Notes Payable:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>15</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R16.htm</HtmlFileName>
      <LongName>2110100 - Disclosure - Bank and Other Notes Payable:</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/BankAndOtherNotesPayable</Role>
      <ShortName>Bank and Other Notes Payable:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>16</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R17.htm</HtmlFileName>
      <LongName>2111100 - Disclosure - Co-Venture Arrangement:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/CoVentureArrangement</Role>
      <ShortName>Co-Venture Arrangement:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>17</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R18.htm</HtmlFileName>
      <LongName>2112100 - Disclosure - Noncontrolling Interests:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/NoncontrollingInterests</Role>
      <ShortName>Noncontrolling Interests:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>18</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R19.htm</HtmlFileName>
      <LongName>2113100 - Disclosure - Stockholders' Equity:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/StockholdersEquity</Role>
      <ShortName>Stockholders' Equity:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>19</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R20.htm</HtmlFileName>
      <LongName>2114100 - Disclosure - Acquisitions:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/Acquisitions</Role>
      <ShortName>Acquisitions:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>20</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R21.htm</HtmlFileName>
      <LongName>2115100 - Disclosure - Dispositions:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/Dispositions</Role>
      <ShortName>Dispositions:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>21</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R22.htm</HtmlFileName>
      <LongName>2116100 - Disclosure - Commitments and Contingencies:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/CommitmentsAndContingencies</Role>
      <ShortName>Commitments and Contingencies:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>22</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R23.htm</HtmlFileName>
      <LongName>2117100 - Disclosure - Related Party Transactions:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/RelatedPartyTransactions</Role>
      <ShortName>Related Party Transactions:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>23</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R24.htm</HtmlFileName>
      <LongName>2118100 - Disclosure - Share and Unit-Based Plans:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlans</Role>
      <ShortName>Share and Unit-Based Plans:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>24</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R25.htm</HtmlFileName>
      <LongName>2119100 - Disclosure - Income Taxes:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/IncomeTaxes</Role>
      <ShortName>Income Taxes:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>25</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R26.htm</HtmlFileName>
      <LongName>2120100 - Disclosure - Subsequent Events:</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SubsequentEvents</Role>
      <ShortName>Subsequent Events:</ShortName>
      <MenuCategory>Notes</MenuCategory>
      <Position>26</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R27.htm</HtmlFileName>
      <LongName>2202201 - Disclosure - Summary of Significant Accounting Policies: (Policies)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesPolicies</Role>
      <ShortName>Summary of Significant Accounting Policies: (Policies)</ShortName>
      <MenuCategory>Policies</MenuCategory>
      <ParentRole>http://www.macerich.com/role/SummaryOfSignificantAccountingPolicies</ParentRole>
      <Position>27</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R28.htm</HtmlFileName>
      <LongName>2302302 - Disclosure - Summary of Significant Accounting Policies: Summary of Significant Accounting Policies: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables</Role>
      <ShortName>Summary of Significant Accounting Policies: Summary of Significant Accounting Policies: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <Position>28</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R29.htm</HtmlFileName>
      <LongName>2303301 - Disclosure - Earnings per Share ("EPS"): (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/EarningsPerShareEpsTables</Role>
      <ShortName>Earnings per Share ("EPS"): (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/EarningsPerShareEps</ParentRole>
      <Position>29</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R30.htm</HtmlFileName>
      <LongName>2304301 - Disclosure - Investments in Unconsolidated Joint Ventures: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesTables</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVentures</ParentRole>
      <Position>30</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R31.htm</HtmlFileName>
      <LongName>2306301 - Disclosure - Property, net: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/PropertyNetTables</Role>
      <ShortName>Property, net: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/PropertyNet</ParentRole>
      <Position>31</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R32.htm</HtmlFileName>
      <LongName>2308301 - Disclosure - Deferred Charges and Other Assets, net: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables</Role>
      <ShortName>Deferred Charges and Other Assets, net: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNet</ParentRole>
      <Position>32</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R33.htm</HtmlFileName>
      <LongName>2309301 - Disclosure - Mortgage Notes Payable: (Tables)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/MortgageNotesPayableTables</Role>
      <ShortName>Mortgage Notes Payable: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/MortgageNotesPayable</ParentRole>
      <Position>33</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R34.htm</HtmlFileName>
      <LongName>2314301 - Disclosure - Acquisitions: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/AcquisitionsTables</Role>
      <ShortName>Acquisitions: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/Acquisitions</ParentRole>
      <Position>34</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R35.htm</HtmlFileName>
      <LongName>2317301 - Disclosure - Related Party Transactions: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/RelatedPartyTransactionsTables</Role>
      <ShortName>Related Party Transactions: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/RelatedPartyTransactions</ParentRole>
      <Position>35</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R36.htm</HtmlFileName>
      <LongName>2318301 - Disclosure - Share and Unit-Based Plans: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlansTables</Role>
      <ShortName>Share and Unit-Based Plans: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/ShareAndUnitBasedPlans</ParentRole>
      <Position>36</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R37.htm</HtmlFileName>
      <LongName>2319301 - Disclosure - Income Taxes: (Tables)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/IncomeTaxesTables</Role>
      <ShortName>Income Taxes: (Tables)</ShortName>
      <MenuCategory>Tables</MenuCategory>
      <ParentRole>http://www.macerich.com/role/IncomeTaxes</ParentRole>
      <Position>37</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R38.htm</HtmlFileName>
      <LongName>2401401 - Disclosure - Organization: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/OrganizationDetails</Role>
      <ShortName>Organization: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/Organization</ParentRole>
      <Position>38</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R39.htm</HtmlFileName>
      <LongName>2402403 - Disclosure - Summary of Significant Accounting Policies (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesDetails</Role>
      <ShortName>Summary of Significant Accounting Policies (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/SummaryOfSignificantAccountingPoliciesSummaryOfSignificantAccountingPoliciesTables</ParentRole>
      <Position>39</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R40.htm</HtmlFileName>
      <LongName>2403402 - Disclosure - Earnings per Share ("EPS"): (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/EarningsPerShareEpsDetails</Role>
      <ShortName>Earnings per Share ("EPS"): (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/EarningsPerShareEpsTables</ParentRole>
      <Position>40</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R41.htm</HtmlFileName>
      <LongName>2404402 - Disclosure - Investments in Unconsolidated Joint Ventures - Narrative (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesNarrativeDetails</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures - Narrative (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>41</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R42.htm</HtmlFileName>
      <LongName>2404403 - Disclosure - Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedBalanceSheetsOfUnconsolidatedJointVenturesDetails</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures - Combined Condensed Balance Sheets of Unconsolidated Joint Ventures (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>42</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R43.htm</HtmlFileName>
      <LongName>2404404 - Disclosure - Investments in Unconsolidated Joint Ventures - Balance Sheet Footnotes (Details)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesBalanceSheetFootnotesDetails</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures - Balance Sheet Footnotes (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>43</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R44.htm</HtmlFileName>
      <LongName>2404405 - Disclosure - Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/InvestmentsInUnconsolidatedJointVenturesCombinedCondensedStatementsOfOperationsOfUnconsolidatedJointVenturesDetails</Role>
      <ShortName>Investments in Unconsolidated Joint Ventures - Combined Condensed Statements of Operations of Unconsolidated Joint Ventures (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>44</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R45.htm</HtmlFileName>
      <LongName>2406402 - Disclosure - Property, net: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/PropertyNetDetails</Role>
      <ShortName>Property, net: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/PropertyNetTables</ParentRole>
      <Position>45</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R46.htm</HtmlFileName>
      <LongName>2406403 - Disclosure - Property, net - Narrative (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/PropertyNetNarrativeDetails</Role>
      <ShortName>Property, net - Narrative (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>46</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R47.htm</HtmlFileName>
      <LongName>2407401 - Disclosure - Tenant and Other Receivables, net: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/TenantAndOtherReceivablesNetDetails</Role>
      <ShortName>Tenant and Other Receivables, net: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/TenantAndOtherReceivablesNet</ParentRole>
      <Position>47</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R48.htm</HtmlFileName>
      <LongName>2408402 - Disclosure - Deferred Charges and Other Assets, net: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetDetails</Role>
      <ShortName>Deferred Charges and Other Assets, net: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetTables</ParentRole>
      <Position>48</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R49.htm</HtmlFileName>
      <LongName>2408403 - Disclosure - Deferred Charges and Other Assets, net - Allocated Values (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DeferredChargesAndOtherAssetsNetAllocatedValuesDetails</Role>
      <ShortName>Deferred Charges and Other Assets, net - Allocated Values (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>49</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R50.htm</HtmlFileName>
      <LongName>2409402 - Disclosure - Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/MortgageNotesPayableScheduleOfMortgageNotesPayableDetails</Role>
      <ShortName>Mortgage Notes Payable - Schedule of Mortgage Notes Payable (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>50</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R51.htm</HtmlFileName>
      <LongName>2409403 - Disclosure - Mortgage Notes Payable - Premiums and Discounts (Details)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/MortgageNotesPayablePremiumsAndDiscountsDetails</Role>
      <ShortName>Mortgage Notes Payable - Premiums and Discounts (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>51</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R52.htm</HtmlFileName>
      <LongName>2409404 - Disclosure - Mortgage Notes Payable - Footnotes (Details)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/MortgageNotesPayableFootnotesDetails</Role>
      <ShortName>Mortgage Notes Payable - Footnotes (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>52</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R53.htm</HtmlFileName>
      <LongName>2410401 - Disclosure - Bank and Other Notes Payable: (Details)</LongName>
      <ReportType>Notes</ReportType>
      <Role>http://www.macerich.com/role/BankAndOtherNotesPayableDetails</Role>
      <ShortName>Bank and Other Notes Payable: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/BankAndOtherNotesPayable</ParentRole>
      <Position>53</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R54.htm</HtmlFileName>
      <LongName>2411401 - Disclosure - Co-Venture Arrangement: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/CoVentureArrangementDetails</Role>
      <ShortName>Co-Venture Arrangement: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/CoVentureArrangement</ParentRole>
      <Position>54</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R55.htm</HtmlFileName>
      <LongName>2412401 - Disclosure - Noncontrolling Interests: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/NoncontrollingInterestsDetails</Role>
      <ShortName>Noncontrolling Interests: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/NoncontrollingInterests</ParentRole>
      <Position>55</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R56.htm</HtmlFileName>
      <LongName>2413401 - Disclosure - Stockholders' Equity (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/StockholdersEquityDetails</Role>
      <ShortName>Stockholders' Equity (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/StockholdersEquity</ParentRole>
      <Position>56</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R57.htm</HtmlFileName>
      <LongName>2414402 - Disclosure - Acquisitions - Narrative (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/AcquisitionsNarrativeDetails</Role>
      <ShortName>Acquisitions - Narrative (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>57</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R58.htm</HtmlFileName>
      <LongName>2414403 - Disclosure - Acquisitions - Allocation of Fair Value (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/AcquisitionsAllocationOfFairValueDetails</Role>
      <ShortName>Acquisitions - Allocation of Fair Value (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>58</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R59.htm</HtmlFileName>
      <LongName>2414404 - Disclosure - Acquisitions - Remeasurement Gain (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/AcquisitionsRemeasurementGainDetails</Role>
      <ShortName>Acquisitions - Remeasurement Gain (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>59</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R60.htm</HtmlFileName>
      <LongName>2414405 - Disclosure - Acquisitions - Reconciliation of Purchase Price (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/AcquisitionsReconciliationOfPurchasePriceDetails</Role>
      <ShortName>Acquisitions - Reconciliation of Purchase Price (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>60</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R61.htm</HtmlFileName>
      <LongName>2415401 - Disclosure - Dispositions: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/DispositionsDetails</Role>
      <ShortName>Dispositions: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/Dispositions</ParentRole>
      <Position>61</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R62.htm</HtmlFileName>
      <LongName>2416401 - Disclosure - Commitments and Contingencies: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/CommitmentsAndContingenciesDetails</Role>
      <ShortName>Commitments and Contingencies: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/CommitmentsAndContingencies</ParentRole>
      <Position>62</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R63.htm</HtmlFileName>
      <LongName>2417402 - Disclosure - Related Party Transactions: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/RelatedPartyTransactionsDetails</Role>
      <ShortName>Related Party Transactions: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/RelatedPartyTransactionsTables</ParentRole>
      <Position>63</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R64.htm</HtmlFileName>
      <LongName>2418402 - Disclosure - Share and Unit-Based Plans - Narrative (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlansNarrativeDetails</Role>
      <ShortName>Share and Unit-Based Plans - Narrative (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>64</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R65.htm</HtmlFileName>
      <LongName>2418403 - Disclosure - Share and Unit-Based Plans - Compensation Cost (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlansCompensationCostDetails</Role>
      <ShortName>Share and Unit-Based Plans - Compensation Cost (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>65</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R66.htm</HtmlFileName>
      <LongName>2418404 - Disclosure - Share and Unit-Based Plans - Nonvested Equity Awards (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlansNonvestedEquityAwardsDetails</Role>
      <ShortName>Share and Unit-Based Plans - Nonvested Equity Awards (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>66</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R67.htm</HtmlFileName>
      <LongName>2418405 - Disclosure - Share and Unit-Based Plans - SARs (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/ShareAndUnitBasedPlansSarsDetails</Role>
      <ShortName>Share and Unit-Based Plans - SARs (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <Position>67</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R68.htm</HtmlFileName>
      <LongName>2419402 - Disclosure - Income Taxes: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/IncomeTaxesDetails</Role>
      <ShortName>Income Taxes: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/IncomeTaxesTables</ParentRole>
      <Position>68</Position>
    </Report>
    <Report instance="mac-20160331.xml">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R69.htm</HtmlFileName>
      <LongName>2420401 - Disclosure - Subsequent Events: (Details)</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://www.macerich.com/role/SubsequentEventsDetails</Role>
      <ShortName>Subsequent Events: (Details)</ShortName>
      <MenuCategory>Details</MenuCategory>
      <ParentRole>http://www.macerich.com/role/SubsequentEvents</ParentRole>
      <Position>69</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File>mac-20160331.xml</File>
    <File>mac-20160331.xsd</File>
    <File>mac-20160331_cal.xml</File>
    <File>mac-20160331_def.xml</File>
    <File>mac-20160331_lab.xml</File>
    <File>mac-20160331_pre.xml</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies/>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>true</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>88
<FILENAME>0000912242-16-000022-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0000912242-16-000022-xbrl.zip
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MO=JTDM?!D\\YXJ*)XSUMVY^:8$UO_+#]S[AOY:25DQ<@)TT#M/[L[IG;MS)
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MQ/"'@%$"W6#F@4H( 18_/5#3&0B]&%3E@>N<(B& AD#.:I?LK\?$,B. PG-
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M7>0\,!2PAL"&<U"GUEG.8A)WZX*G@M'FMJH2IX;Q>@5 J@VHN:H;6W;%M8/
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MA7[5.-Y*BI%RX%'BU'DQ93*Q)E+CR*T$U1GE5!/*^Y+T7:NC]HOF!<V-5E9
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M^UP("6MM^I]44H+QH<Q<O9)R_YGR$ V7DH8@ L@86#BFE96:.:*M-,V,X[%
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M05.R']% M>3&214Y4IQ&X&/")98-?&"*];D@9*U13C/5+)(& 4YV:@=,C-'
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MB@DHY<1D)8&KM(+%!+4<=-Y)X _CB]E[@?G#"*&S\;Y4'2#KC&RNI9+;>AU
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MP+S/1F)RD@+$IODK)(\@<JRJ"U/<1_CK<9O/WL77KQE+\T':TYEE-FB14(:
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MS?'YMU0C8$YLC3R1 NM+RFR5W)^'?T^U[V3\D\[,]1M0I8B&E4[%@FLM1AW
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M FT_/J^RX%VBVH*4EP;>X\:>O7GG# U3&585FVIF7@K6JF+%NG;5PL8LP7J
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M<R!G96*N12;&*0UAQQ:=3YI2EZZP9#6$;=#MCZ/5W=VQ8V8M?9YMY*/)=S9
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MT\O9Q>1L<C4^YV]E@_+B]>OQ/,\N#[GX6I$+A:Q5'G4SP?,1H%:- 04>N]R
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MB_1\'/3_S]Z;-3>.(VVCUS._ N'3_8TK@J7F+JIZB9"W?JN_6CQE=[]GKD[
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MW ,>C_=]XK,L,"_^X6<^"3A7*2\&!0_UT\<4N,H6"M[I$%'+;'FT^5&XYW/
M;:[2LE)RCRJ*A+ G$6_/E"]_2%W1'TJ>Q2T;=(<#FB6)9SNDWQK>:9=5/L5
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M6>Z3Y"@0BQ@P-\P*>7W@_+?V[LK*.RJ[K([08'"PA:R^[K#R6L-.:\&;HUO
M;^.;H[9F2KPYJG>E7!W5G%[#;UZ:^P[0]*NGYJG?O44"-!T">^_@L>^_'YT
MQ]Y!:Z-X -Y_E^)YBD]+EV#K<8.I95&BV72M>M>:J_Z2];1X7U]4 ^?>P=2G
M$\ZQC.+GR'G+EGX%:35[W>='0=9D=GJK? 2R$[(32B>9[(2F*D+RD)#L'L%2
MW?Q@ZMAF[*:G ,B(R(A'*%JU37$JY$6T4U#'HA>%[-1T=D+I5-'-H\/7PJR/
MER6M("["6))6.,'2K-^8+]H^WE+@1.0YY+D#\-S79'3<2K3(:R?#:RC?D.=0
MOK6$UX[13[#FO'8]'#(W\9X8^9@WC7V5L$<3PR"$SW7,/T$!?) S)/AVY+^N
M[H]WK/!03XC>L>C)<]FY@2A%U768D]XDA=_6%*9<89E8D[:B/C3GEC0I4R,J
MUD[\2!?/V #C!!I@8 \?+ R&(@Q%&(HP%&$HPE"$H0A#$88B#$48BC 485L1
M2M<U1<->BBB^:BV^JJLH?1K& P(, 8;V =H']992:".@"*L)X4X0?6T!V"G7
MBA"/78YH,/!91(I>L_EYOHU90T?(&MI;^C1>XK1%L" J3A856J^G=.6U64-$
M("(:C@C4$X@*1,5*/6%+JX2%B#@91%2+@N-%,(Q.5UI'].4MKXX.DGWR[Q$J
MJ#S>X!%;EU:V#A7'R:"AK8I#5[4>PF%^G7B%;1VW7-'@(8U>R WU(O*9^M)J
M<]6(>K43/9O?G&U)0WA-4Q5#E6;/MOXH#L&%X$)P(;@07,<'EZ:H77E=MA%<
M""X$UQRXI'FK""X$5PT(5Y,XD-6QC(/1YY1/%A!UJ-)F*DVQ#+06$5JHT"HX
MV-!51-:&!#CY9/XK-DF&8300AQKG74SAQSP"3,W$? )$!:("48&H0%0@*A 5
M\M/X#<4PI!U%(R).!A%MS<9$/8&H0#V!J$!4H*Y 5& "?\5Q;@=;S]1)+;?E
M5!O+:>'9-@(, 88 0X AP!!@"# $V&+HWU!Z/4SE1VQAYB,J+P18HP%V<LH+
M 88 0PV& *L5P$X^A;\HP_\U37R6Q"0<DLL1+/DQE,5#*(HPQ>#T#E,1%2>+
M"JWG*+8C[8(J(@(1T7!$H)Y 5" J5NH)>?5#$!$G@XBV)F?J'4U:]8'E+:^.
M#G6MFH-0::WR,'14'(@&5!RYXI!8MJ8M<,!T_BUBWE\\^D@C2FZH[\?D][N^
M+&ZJ$4%K)XWP"+Q"_FJ+&$. (<"V*';<57IJ]259$5P(KI,#%VHO!!@"K&+M
MU56QLC&""[,CI8/+[#C5WYS!0P=$':JTTF-='7NF(;!0G=7ZQ*/UR,(L?Y\^
MQ@D=#K,*1CVLU(\9!IBTB9D&B(JM\VZZBJIBK@$" @&!:@)1@:A -8& P S-
M-P'A='K2(H$894>HM%AW:'@G#-& BF,:Z-8LA,/\.C&U_Y5 =_(Q"@-R&85Q
M##.4V)6V1@2LG?0YN8-M3(;$ VX$& (, 88 0X AP!!@"+!%S]4R%;4KS7E%
M<"&X:D"XFH2%4'LAP%![(< 08"T!&&HP!!@F\K]YOA$Q-@K] ?E&7?9,7[)\
M?AOS^3&M !,U,;T 4;%UD$8W%$?%# -$!"("]02B E&Q3D^8BF/8B A$!"9F
MBL?,CKP*!)C1CU!IL?+0%,W0474@'E!U9,:4JF%[O(5U8D[_.F[Y-6(L('TW
M8K$(=\OBG!H1KW:2!X^[*^2OMH@L!!@";/.*"*JNF#H6-T9P(;A0>R' $&!-
M IBA&DK/QHJK""[,A)0/KHZM'8P^IWS$@*A#E58ZE#!-+,Z/T$*%5D5Q_NH5
M6EN0=?(Y_?\7)A636Y_^EY*[43B9P&=RR8*$1;*8"(50:W,+,%T348&H6$I.
MLPVE9V'.#2("$8%Z E&!J%BG)VQ%MS&M'Q&!N9G38#P6ZL>T?E0>&X3Y%%V7
MUE,:5<?)X*&MJD-7-83#PCHQK7\=MWP)HV3T2!.6U;#15"S47R==W)9C;DR-
MQ,-N!%B% +,-I=O%1!+$%F(+E1<"# '6)(!QY>5(:[>(V$)LU8!P-0D'&1UY
M14\PK1]1AQIMH[1^$]49 @O5616G&QCEV)0 )Y_4_Y7^&2OD?L1DL0R*G-;F
M$6!J)J("4;&L;TW%[&$*/R("$8%Z E&!J%BG)RS%LK"#"R("\S#S2RT=S91-
MAE..KR-46JL\-$6UI6$%5<?)X*&MJD-7=?2X%]:)*?SKN.66NM[0<\D?'GN6
MQ34U(ESMI,[)'69C_B,>:B/ JK1_]9YBRKNUA^!"<"&X4'LAP!!@A]!>AJIH
M*O:407!AOF,%IP@'0!8>+R#J4*65+Z39J,X06*C.:GVRT7IDG7SZ_C]3QH(8
MJ_!C'L'10CUMD26(BI-%A:VJBJI*ZYJ(B$!$-!P1J"<0%8@*U!.(",S#?+UV
MCBDM*0-C[ B5%BL/3>F:F,*/>$#5,0UTXV7(A75B"O\Z;KFC04+)YS" ]?,>
MM*ZT@C4U(E_M9,_)'6MC*B0>;R/ JM3ZNJ%8*B;R([@07*B]$& (L"8!3-=-
MQ=&DN:T(+@17#0A7EX!0IU>]78B'#(@Z5&GSE854:<<2J- 06C4@7%T4FJKA
M)9E-"7#RJ?QW-+BG ?G#\WWZR,@W]NB% ?4QMQ\3#(X6_6F+<$%4G"PJ>.6@
MGJ8A(A 1B C4$X@*1,5J/6&HBFU(\]<0$2>#B+8F:!I8GI\_AKG]J#S>XA'+
MD79RA8KC9-#05L6AJ_(J];8%#IC9OS;NG0 QG\-P(#G272/BU4[RG-PI-V9&
MXEDW JS*\(EJ*JIN(+@07 @NU%X(, 18@P"FJ99B]C -$L&%:9#RP=5QI)7,
MPKQ^1!VJM(UJU9G5@P[5&0+KY-29KFI=1-:&!,"L_G3"HCCQ$B\,R-TD@CD6
MY?K/->V=+$9"0=3:W ),UT14("J6S-NN8G>QG"8" @&!:@)1@:A8JR:Z)B:C
M(2 P-S./7G1T6S893CGFCE!IK>[0+/0O$ VH.*9A;VF*HRUPP*3^==QR'SX'
MC'RFOB^+9VI$MMK)G),[W,:$2#SD1H!5J>TUQ;$Q@02QA=A"Y84 0X U"6"@
MO'J6-&<5L878J@'A:A(&,CMF]36-\6 !48<:K7P4@2G']93*+0/6R:DS7=5U
M1-:&!#CY9/[[U(W#@'RBY#IP>4/B 97%/"A\6IM'8/<46\?"L@@(! 2F*B,J
M$!5KU42OAWTJ$! ("%03B K,PUP7@)=791'C[ B5%BL0PT:O&]& BD-^J+LM
M<, $_G7<\H?G)F%$_J"^SUX4D<E/PJ$L_JD1"6LG?T[N<!OS(?&0&P%6:?:(
MJ5B:A>!"<"&X4'LAP!!@#0*8T%XJWD5#<&'^8P6G"0= %AXS(.I0I94/)@[0
M$ /5&0+KY-29KNK8Q&E3 IQ\.O\?7I#01T9NJ!?)+5:$LJ>U2068E8:H0%0L
M*=ZNH6BZM",&1 0BHN&(0#V!J$!4+.L)4S'E%3- 1)P,(MJ:EFET+&EF$P;:
M$2HM5AZ:HLO#"JJ.D\%#6U6'KLKKY=(6.&!&_SIN^5\6)[$W8.26/GF^%P:R
M6*=&U*N=Z#FYHVU,A\0C;@18E4:P:2D]$XO6(;@07*B]$& (L"8!3#-MQ38P
M^Q'!A=F/5=3FE];J&I/Y$76HTC;AJJXCK1X7JC,$5@T(5Q-UAK7YMT!60Y+Y
MFX4JI,\;J JC 8N*U1N3O\@@3!]\1OX?5?QO)P+F@_)?:#!B'/K>8#I@/0S)
M[PY.P /32[K;W^TI/4->!9JWR'8 'CJ^R$?IA=(+I=<A4C25KJ$KFB;O:BG*
M+Y1?*+]0?AW(^G(T1;7EA891>J'T0NF%TNM IUJ*J7<52Y/7=AKE%\JO4[XW
M()\8"(J3 45;+Y<A*! 4J"D0%!NNLW3>^D-"P7I<^?O2OTOK\KV O1\QP?J:
MKG[_8VFA+@L2%AU_J6)-Q&6^GW/GSV?JF?@,&^86GU?,Y-X;LYA\8<_D6SBF
MP8]DW916'5,_>X-D],%6-T' /--M_N/M3LH!H]NP[-+6SH-J3A088IE[H/-<
M>[<W+&%]6V'RC07NLYS[$2/C,$H>>4V^($R C2;T1?#A _5IX,(77N#ZZ8"1
M!'Z;!I3_',88D %[2,@D8F,O'<?D?.#%;I@&2?RN0Z[6_8E$#+Z. 7!B./87
MO(#_@ T]UV.!^_*.A$/QIR'U(O)$_93Q;\2[N HBYVD CN([\9M)!'/S)M1?
M^"&-XW0,,_0"^$/DA6E,J/N?U(N]Q L#^! ,"(T8F:W%"Y*0_X?!Y!*8UH0%
M,<M>R%\$*Z%> %Q$X!?C8HH1\VE2$ +>10F +Q"/4)C$9!*%?WECRHDJ%CL<
M,C?QGMCL16.6C,+!:_1R8;X>_+*@2NB##H:)?-A;:,H1CJ51YH#&<29&\6"[
M@NQS^35!&(VI/Z>6M3EL2A.&"S,?T^C1"[))TC0)BR\RJTA\DTE$L^O,HC4
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ME S!-@ZES!N=#'0R4 %6KP =5( KQ-I\[I'$U*/YT.^$>@-0&4,.>W[:-%-
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M&<(U]?T_Q>_[7"F J"O]A:_R&WM,?3'J["]W[__?#@&BO9!!2((P@5>X?CH
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MLIMT=D/1AJ(-15MC1!M>B%]Q(?XW&J0T>B&R;\2?6JZ8J765[@&:9F J6+U
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M-65)R[JP$+I*]0G0-A 3CF(8TO)\VH()-/#7T_9Z.&1N5O&0AT>])U8ZK_S
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M>P'/$V/M9?.LS;874.(>5M47YQBF_%<X3>YI3'ECD'S(6-UG;JYW!NP\K?J
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MZDSIC$?GD855_C%]R LZ&%0=C +LU(\5!EBTB94&B(JMZVX\3=>QU@ !@8!
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ME";DVSB#-4[:]9\9QEM9C(2"J+.U!5BNB:A 5"R9MY[F>MA.$P&!@$ U@:A
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MHIRH8K.# 0N+Z#N;_="(%<.T_Q*]0EAO!)^<4"6-00?#0M[O+33E",>YIRP
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M]'RW=VU=6^UNWUW3B@ABD7EJM;F7]R6P#4=VN6C__"[LG^^U_4.&]#L#R?=
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M"8V?>^#'M'=4H8VTVX/-[;F!]BJ&KGDK,C@[;EV5LUQG0J%=?QCEC7*@;7+
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MERI7\_<.MIGGGM<X9W5%S2&TVI"B4T2G-6 N(L 08*B[$&"8$=J=:[Z->;^
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MA1)TK2><JFXFW[1"2_W ]P%]'+D3-,?(13; K&?++6,(S\?$0TWN7:Y)3;]
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M6QDR=S6L2'0ZI2B1)UBAG/ 7"2X%BM3G,GR*\(X5"L_K^CT4V_2&8M'KZ5L
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M()#3,#>G@MI<Z=X1?:D!&F?@CS[P*RBY?+!?5GALU3T^K#$WM*R4=49H+9#
MEJ#$LO%)Y4+PQDDBDQ<D='M6'#YBHX@4TQ]N107<F^S;4P,(-^6DL3[GX88
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M61,TD02T<TH("LH*%*/:%'^RTJO4I)R=-4GH>52.<^)?A@MS_H&K=&=6[/\
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M(^N7&^4<3@.%F;; 6>D 5H'SB(OPR\#_4@O]RT4Y&ZV0=8IZ$#0E02@G#E>
M8".B$AW[C'*NS=!3HYR; ?7ZHYP!-8P*Z%Q0M8! P7!CK,*#6A3E"!E:E'-M
MGM>,<FZ&V<7'L"(2S# BG-,062,U4YYLX/-<#_:*[63^-0YFC8/JU4O(T"[?
MAB<8YXQRML@(#J!T#"LE .#6;6@SP/=T!+06Y5P;ZL-1SLU0>:57:!XY!X->
M)I"GDE*IC-V  )3HJ59K&]9AK(+9(5RO\LI$06.4#NN/2>$U5!@ N5E]+*[B
MRGDNUF(EICNT>A"8M2/MUVQQEX^W'KP](!Q[>B02*4ZYL,QBJ1!2R@.SGAH"
MVG$2(PCGN3N+%81VD#G/R?*5I_6E?_7-YLA]'\S>=+XL5M;O+P'IJ^+MX9OY
MUK^5*(V)(=! HY35Q"I$; 4G-P;&"-IY[MA:/*-ZQ?1[+9$#E2^@P9PZ+S2G
MUH;]7C'E*BBQ%A=T_=>B>/:(Z%_H+@=@AQ$RBF!)-9'"*+L!QG"@+N>^\%11
MZQ2X7NYROMJ77]G]36E,(XN(H0P1!L)/4#T!SH S?[TJ-<P)C)R'B'%"RVJT
MH'):(,:<Z2E6-?[^IC9#3[V_:0;4Z[^_H0IA@[QV@%+.*"0(BPH/2N*BBX9V
M?U.;YS7O;YIA=O'>>2 M=F4XIN8,>1/4><DVTX4 7MS]36W^-7;3QT'UZB7D
M4NYOSB<8Y[R_\0@SCVTX>1&AR$L-(:]HT\Q%J?UGO+^I#?7A^YMFJ S:R[9Y
M4[/AO4[CX1.#!!#4R& #460%\,+X"K1PZEY0RE2L0GH&&"_*K:^0(U)2126S
M);B>N,T6"SV**HEUGON=6 EI!YE!;SA#<.MK9\K*P%Q9(BT'0,GRTN1I_W8P
M*G7F//='_6]%[6 Z:!$]F(G1YO")-=2P,M5><RBYY,KQC3[BE(FRL,]SO]2_
M($;#V(./=>5;Z.AU=)W._E"S]3-3Y8LI\Z^>P>GG:V=T&I=1#F]F\T6QO%\]
ML''<7[RG1R*=(Q8C11PT$@==WFA,/8; ,V@1/;;\^IC>,6_PCM:)D$$_T 9B
M39"$9;(]ID_3 D%OZ*E@Q4&'[\D<R=N&8:CNW-_38G6!^;XL%7;8C_MUT[ O
M0F ALL'8A3[\Q,OR'T\(8 )[\KTT<N">Q,B\53QZT%&V*3SJ:_NV<>*%=A1+
MR3RSC"/$O96;"7D]W(*<\:PYP..30'D%W!Z:*_6<3.Z=N6_SV3B?K=343T%G
MNKJY"?KJN*3X[1M]]?YH\:E:_1,&I,828N^19IH+KKVOIJTH'E8\_2ELR[M'
MIP>A>'F:'3F^OVV<."EI,*20P%H0QKD%0E03(J0OC]C9#O"3$>F=Q67)UJ-;
M^[XN"0MZ;QDI9!03&!J*/-&5]LL$&^YQ?@JC#O+\9'!>F00,[8@? N/[/^J#
MN7IU8\(!-%D</]>_:9P@0 #44"@ !"$>8@EL-2$!XNH-=W:(G\Z6KX_R4P%I
M?@-^7:3S=)R6_JN#%^#?M$N@,I *$+06 H -<]5\0YDG(LJ"[NQ*JC56M8%%
M#^OP?3J[/>83V;1) %%2$^V5PU)9&3011RKR@3)1H0P=5_EN4Y>*!:(O/A[=
M2+=:)8@Q;HE18<)<0&$<-AN!MIZ1P2I*$5S8Q<>38+A(C@Y-\>F7D;TS\->
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M5!80ZRT!0@D(2#5O8.,JL'4627$VD3D!LH$&_^T7JQ9&3<JWQK11$NBP(3,
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M$TK-?46U=W$W#CW=4I[*S5:1Z5T?_FV6W@<!++VE3ZZHVGKQMUT3Q R7QD(
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MJ[:@=);LU0SGUY7LA8G4A@?T*9; ..8Y=AOTJ7O=CVO59OS!9*]F$ Y!C;R
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MGH/9%^$VB5F%0R4UX8X#8[BFG%@MG#+>![V'_?_M75EO&SD2?M\_L[P/8+$
MST& S-A(!OO:4.2V(T!6>]72['I__;+;:MEQ=+1:38KRS$L2.\VCOBJ2=;&H
M#>&>2_G7C8[AB_&#\#SG\W.#Q9OH7^2$BH,#%EXAR0@W7/KV'7IO2>>I0]Z
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M@%>W"7=D4 :7S)^QHR,3*RC]HZ\K5B#ZW2B7?,KNQZGTB1#O:U(8%)CGK6'
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M67.CN=UH;*!:1UCK>*9&:W5P9PMJ%.D\,Z1-.689H]J8=<4TW7MH,'0"3UO
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M+K1=,3P7FA8OR*GVU Y04^8675%:1_"NK!:@U2&\LG[--UG%Z>>63/S<1H+
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M@*732P]NP/0^9ITMJ 9F=<CD)6DX;9<5?1+&%(^<7R%K@) /9TU>Q"=A;[2
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MH1(SVF\\78B:)\PKTX>4#[Y\E]RE*T8A]2/@VR2P48 "' 5^!RW"%$XC1@J
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M4-:%1H5H\?!8Y.+8IT[!:$>8(1"&(08!CFQ*44R[-A&"2DD/Q[5D6#7:N?@
M:E"2W9%D*FJ)<1[5I$690K,*\QH[,H(SBM6%Z<\X6T[)D0:&U(KU]4VU*0H#
M!C &-+"9%T+7=R AI&N+ *9T.C*LA8G5:&"6U8'LR<F0>>+&R<],Z5%?I>6,
M[HRC<1EZ,]*&5^L9CF-$.O-24O(F^N1.L6U#/V(NIM1Q&88V[)J@GJU4ZD7I
MBPVKR>=BEVQ?W7M0S)ZD1):<BACC24T\&AC*^=<TI3TZXN",4@RB:AD",0SZ
M\Z1%P^V7E0-:/]*O1TK;#K,I0Y[CP(@@)[;%#9!>=J@+E31!_=L-"T,#J%$&
M-2D80)2<'ICE2$T4CNF921I>T'%&'X93MPR1&(&_T-6)U.3B4.GB0Y)MWN8T
M><SX5-NVZ6/'C\.0> BX./9BX-C=/JYO!Y[2WLFXE@S+R &<)="]R7*KQ:<F
M*B/IE!.8Z9A4$YO3),XD/6>).B-#>@A>AB1ILJ4PT075I.ICNN.KJ'03)66>
MY7=5VYBX^Q@'Q&6^AX. !B&#=M<8"*E2/;:!39@6I_5Z_[#?)B*)$DMOLW4F
M^0ID+'-R<C0!:6HZU &R.D0SR<_KQ)S1G9%,+D-PQAI1:.U=:A+SGIM8Y#MN
M+O_079=0JFN2V;Z#?!NYV D#%$*;^EV3#HX=%:$9U9!AN7F*K4_%IYCD=1R5
M<LHS&8MJ^G."P)E4Z!Q)9[1("[?+4"0]IA0&^M[ <^YWAQ37 8X0 R"R0V!3
MPML$K(^T "6##K?EOWZJ>S #C[ 5>%(\MS9#D9K,'-V#>3=7NON7A,B<3ZNS
MMPPA&6/ J9/HH5PH7*\OTZ1*6=K\]VW^\M[>1RYB<5%^3<K-"B,W]GT.PR=^
MP'Q,0-BC8+Z/%6_<:VW;L-QT<*T?.\!_%AFPQI\Z:?>!G%K-2;^:E"DP;_U=
M0+9:S--?\%=A](P6FO+-,H32F'4O7P889'' D=NG^X1W\[=5M4\WJQ#YB"LZ
MA"[QB,U8C*/NMJ,?PM!=-9DF^%10[I2/WY1:4AFYST%)#^*VAK;U(Q^Y58U.
M,J7^:!Z5S^6,D3?\=.[*:D!=60VLV0[ICKF1.ZH;Q.8RA&JT%:>/[4:P(K\@
M?"YV?8UD4?5-)##<[<KL9K\3MZ\_%Z^O65<A"*(P IZ-8X282V',HC[PC&-?
M7:<F C:EK$V]KM)!X-FUV*0>6L9HG]KH%VN^&3A7*.!XF^U$0KP5I@&,:!A
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MV)@/9L'49U6^5*6+/L I 41@'J68I2!,.6B_W\<4F\10^M_JF DK009M^A@
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M0BW'7)301^$2)0Q":R&4,$SVEY0P H%A9[IJ-_;=(7\L5RGG@$4A!CR@<D0
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M][.&4SI/[HW%=8GL,T"+B\0S%!5=SL%EF1]*?"O'R^X.*XY3E HFH!]#.5:
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MF_CF]7F(+K";#6"706-6-'EY[=H:.H.)">_6+/^>;XNGWM@184&(?1*&/F0
M\%3 ]A4]"L+4L$C1SICN#[)KD>HK3OM\W?]K_N,IVY5M5^-]OBN^=]U>&E(S
M3JLMF6(@P;FS@36J4U W,BZ(]MX"SH0 1P&_4"H<I],U4K2 F#D]OAJQJ2M*
MDS#Q(4E9&D&!TS2-8=NPA\I_,'S,9/QXSFGQ4Q.S>9M'M:V87V[6YPI54Y9S
M"N=HAGN#U68I8+R*EQ:QC<5Z::0V6I^SA&8'*8,N8-5U[OI:X7:;W]7=R#ZH
MSN^]ZO#01U&(4(Q #!"-TQ@EJ!O=1Z8-P:R,Z7B?[_2F>]T*?W_]PH1;F#4Y
M;@:$#9GN!-RCC"I8KJ2<[6Z*)G:76,\R^@OA/MM:O6XOY@"UX>4T++_/]S+%
M4TT8-[L'D>?E*A8)A:F(2,SE?R(1)C3H DKHT['75(:,.4'.6PM5]8%5N^MW
M13G^OLH@>(?6T#C#U6;]3(=S(Z6GQ)R[=N8-Y(SJ9L8@OPS>LZS3U7J9\8CI
M-$(Y:;3R\;ZY_*RX]V\GK93X[E"?A>S652'/*N!49M($ A%@FD(!".RV'&$0
M<)U T*D CJ/"TS94MII/N37)9=I<C#7,6/15/["VN4-EDU.QO5;N:K^PDGP)
M=ED7=\\JZZO?Y5B\?4[$-2N7V.QZ!1,OUDO>MTUU]_^OH[H0#<7J#;\V"?3S
M]RQRKV(QX50>>=CU;B>]0EX>WNW^CR+RO]<\ODI\&,,0^'X0Q"1%)$IYM_V"
M!3"\LVEK5.?!/RUV/98]%#8[+5J#?N#QEDO,K1UPM4*J#*$2TVODG/F(ZVWP
M3 ZY1L*_C.S NE;7#KJLH*:3(?3W8[YDV_SC_:=L?]C)B/G;YJF5HJRK^ZL=
M:G4$IYXX5,]9/^?K8V^Z#_EAQ1CT(XYH&H<T)G'$$[_+8& (@6[:,*U4D^XP
MEU*=JE&<03^0&0QU/9E8KHW&[%%_:<S3TZ4CY[*]_'1L =A7R#MJ=.-)G19K
M6_V$9+DVMI6E2-&[)?G4L_FF5>ZF:516K]>;MJ?CT>I%I^.XA,8JUF>RG'GL
M.7_J,Y/>Q=PK:>SIR.=<97%W,@50*V?% T*YSQ@F,OR@G*40M]TG*(5D9$<;
MX^&<IT5'>:K+=&,/0TS1''H.X@)&FT<@/5CI)5@G.OPXA<OHW&,@TLM(:NRI
M<_6T8Q1.]J^XK7 ($^9S#$' @S "L1!MRWD:"0$L7 H>,JQ1(F+I4O OS^W%
MJK=NN+FZX';= GKD-Q/X9C0XX$+;4F^Q76!'!Z98!D^Z4&SP;35#[$9RI]CL
MLMW=V]?E4)#X21(PA 2)(J9>2NHVZGT_I!:N!X\9WO&FSLOKP?>MJ-:O!X^R
MP2@6G0I^JVS:";W@Z\$7@#4G6!M66C316E%0CW#M83FD,OM=63[+X?./]^^+
MW</7?/_(\ML#WJV;T],O^=WSOA)*[0'@B"81""(_P*$ @1\%@'6.(&"#:[7M
M2C'IWKIZ:?LA>U#/L=QFNW_VGAFHZ[J;+HW#B[HM6TCS1',1QAFSJ=Y*K399
ME=R_2DL_>DKRRD1M2<]1^,O[Y\X+PHU0UBP1=V.Y91#W!'I>*"-WB:PNC7_.
MGYHCW.M2K+ /8AR'<0IH&"<0$Q^T;\[0!!/#BX-6AW:^I=H5/Q0[-W1MUQ)Z
M##V]"0:1\E',UT1\T_M[R\?OJ[W;C[?;S4-[K/DV74_+U"9H7R!G)T9;!A^[
M4:V88-(/J^K[>-\%[E3=6EGYE$8 IP&(0LXYA +%W?E8Y+-X6!F?\3#.V;2[
M3'+<?AAP;6<XC)H!K%/\QM7@22(\[AC0B]@YK;A[B8U&B=U@.)=!4N/5.%-$
M-Q(7<_+Y<BCN_ME&H?60$-(8Q0G!D9_Z-!:"(MP.&82,#"6@ 4--%=*II50J
M\;Q-F^Z-XJ(AJ)KRD2LX1W-2)=@Q;YZ5F%Z#I$5.([!=&D&-4>4L28W&QY2H
M1+&7,9N<?-]D6/_QGA:/C\6NDF*5<)_'),&4"@$P A&*VX%9FH*!7;Y&#.B<
MM.H%MN_$&TA38S U(RO78(ZCK/MB[QW%J^[I50+61#8/<YU'3(._+,"]+!:S
MH= 9+K.&E?EMKM\VNT*FF#^_?,OV^;=B*\$L5U'$ 20D#E+,?1BQE >P'93$
M='#/PD&#35"DN,X?G]JN*KM"W=PZR*_;JHRF*V,>>F=K&,!FU.82V=$WM#Z<
M OKN*J".+V:]!94&GXW$>%E<-E:9L[>O+&!DGCZRC3J#WJW+/G%R$2=10"CC
M"4T%PS2).N($/AW8&GK@8.[WL5JIVNL5Q]NH0]/'8:B:)I#NX!R=0G[<KS>[
M;/_3ZV2\64!0]C9D6@GE**R716!CE3F;5%K R+BOS->"%LT%U>9.RRHDC%,
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M06%O*NE?Y)+)L\JCB[VZ-]!DTM43A.6F#K1:A[[9G;[;>O(L(:&QP"*A<0H
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MW;=\_:P>5<7-X5"U6_.^R'9E_SCP<WZ7;[ZK/86OZC^K2,01P#&!$42,I""
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M$Y"*@# 4^HR%:3N0#(&TFMN/^'K7P>11*J\22_^482A>UX^()H#*,#I\B=*
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M4V#U.^6F'J^="OVE5[T]Z\HYOK*5L3L<;NTE.\ 16FFYO+&HF9Z&?LU^U/N
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M(Z(=-J3(*"\:/=@\/N+&4R)Z_ZB%M.(K3  >0_B.L+7"VKJP3LC>1[B,*7@
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MCOA3CADF8FEV@I\N6.G:[RY.]?+$4"&J*0#K#\N;1E=OPP3P,.,AH1$E((@
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M\ZC>'7_V>5SSJXF,LG'RA[2X+U;B'YG(>;X5]2V1R7_$0@3DM!$CA#+>H8U
MHO0VY=@871=K6SC>K,4S3I31=MRPR85+GTTBQ]CU O:N>L$X*8?+WC"IS$.Y
M5PR=@;SRP ")2%^?_USY2&\6'*4E9EX9.CMI-@.T/W=+$.$AP!SX.&9)$F89
M8KL\BJ;*N^#&PN=ZJ:K9/9,W6,:)15K.&C8;<>6G260BK>?)>_'\.!F(JQXP
MJ>Q#J2<,G7D<,#] UM''SS]7QM&+ 4?91G]OJ"XG]T1+CJ'= HW"C J0*08T
MS6@<H"2F'5!">'R[KM;Y0FWQ>01X6GG&SA+UC<;R5[9YAI=O\>JM18_A,[65
MZXF[:Q+IAEYXL;,N;M\O9U;11^P$TUAS'Y. :C(#<IR*][=JM?Z6?ROD#OCM
M!OA;/XT9R+* I)P3%/@IIKA#G"5TE,JW#T['%7 'J3E"TAU%&:<@ZN7%84MB
MUPZ<1*S:=0EI97= [1UUB7%J9===8U(ULUX7&;IX/N** 8IHDP[P<Q731DPX
M*JK-O3-&<<TVJY7XA8-_:"8';@E F"&400+"-!496!SM%R!HQ'2V>D\![S#3
M_+/9:B-4;;%'-UX)WMNSP]?D0SAU$HG/UM##?]Q.#[_?POV$\P:JY$V[SL]7
MVALSXK#6M^.M,>+DP7=N,4A1&+,DBUGL)RD2Z(,.+8+1:#/1.A@'F8X^B(-R
M:EIB'"\>:GEP^!CHRGF3B'L'WWR_@>[@.P,%MSY]XN<+:+U8<!C$^GMEC,#U
MJ5C?^A'T64!H[*> @QCXF.S"*V,A'2M@J6!S'*B:9X:^-P\_5_>[A5-O6:R[
MQ=1?\K4'?/]_>]6/I2@,'\JG@:]DM,SX0-JEX]N?3[.TK'>H5?I>4-:HO"[K
MZ_L;,;:Z.6.!X$LI8-Z7LWRY)K-9M1%8E]]NJD4Y$YCV]Z"D:<:Y'T0@@XC
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M16(DTB..L"^B=Y2BJ!N6?@ 3'?4[\O$9H< 729<P)80)]S$DE&1)"& L[ +
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M;Q9 \\6^R*WIL_C+4U7GB[^MJLU3_:%+)AOD\JKI33&_%EEE,\1:,VY#C**
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M,@L$;GRL%S2'7UN25GN-V3_=.L/.H:.N->AWJW^5]88>S R^YM#7>ZHAEXA
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MV&1)5;A.M18R/TX)#VF<<C]% 6 BR]NVQ@''.\&JUOE"3;#Z-M5'J':H^E3
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MT50C35JGJT>ZAB@H4B]N5,ZL?"[R1=9LH_^P_"YRL.;8ZG8_O:A/NPME I
M$D' $,>,(ME<URZ 6/D8BYW6'"O4%E IKWU8%HK;7BQR>5Z8QJ%13Y\D/J\%
MZ.T1>AW$[7RR]GD82_RJ'Y$9GN>^IV9L\*UR#D:)D2.Z;Y_-\4_+6+:G<M7O
M]!+4YJ*;=JIRVTX@[X3T 6-I $C,0L"R8!=T(JAU)EK_TQV+?0.HUQIA#Z+4
M4DZW'.DI>4M/"T9;0>SDEV_H.)-6]J=N&MFD ?[*5B?27&G87\C4M9,0#AF+
MN0]0D )*15ZZF[=+B-)SG?T_W;%<O+A4L^YNU=1<)="G3'$]P"E;FC/_+9;V
MPJAQA.,-'>>F\GM3-PWA,,#_>GK>D FM/.-@,;1K#,0XQ9B$/(AC2&B:H)U*
M)9!I;5KJV<0@&<=B#ZM'VM&#-XW<PRUE?1*0 T1C9B%OB+F4BO1G<AJR8FK$
ML:3$E!-5@3FUNDB?V4+D^^5]V4ZM7=\W__+<3/HG(4_$'RA?ND)QS#,8QQT4
M% &MY,4) ,?B=&Z1OL<JH1L?J$G9Z/3K"5U_YIWH71_VSJBA4V=,0RO=FE@-
MV+DU#\V^:O HM.?M @8(24I"!BAG5*ZJ0IK #D(6$:WTSFK#X^BJO*3HA14]
MUT'M^D!-7T>CWXJN]F#>S:E<#1;/Z*L39TQ#5]V8]OK\KCO^C/+5YYM5^9BO
MGMMC1+-2?-DES3 +PB +D1^Q%.!4_FV_/45M2=91TZX+Z/8ZB.6WYN6,I?B
MA_+)0EYJP+5!1CH,S;8T<PO6.T [4D&N1Z9N:FKNE6F(IROC5-)16QR:">C'
MW7U@(  A2"%C((LBWR<13-FN59$ FRNF>ELCI9MJ-]ZY8==$(]T0:T<41[Q%
M\ )9VJ*G3_.45:Z'-4JRUI<E,QUCU;*N%N5<WC30O5?4/E?4KO+>BN(^Q"QC
M$2.ICWP2DHAT8,*$ 7-Y,X8P6&+X9#<Q-.?>1/P&I=U:<7T 6M[$_.*!K:OM
MCI(IJ.4E=K5%U)J[IJRM]HQ4DES+G+I2XH.EK5N<09_!%(8^"BA+* %@%QL
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MHL*>+XH5S^L'.7M:R$[3G28,@X 3E+&01>(/CZ($;S%D$8N5MO*Y:=EQ0.@
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M>)*?,WIGSNDTE,R"'97MWO9:?0Y[PT?QU7_\6_<=\1\96__CW_X?4$L#!!0
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M'LRSG[[-Q_\V']YG#X.W^7"P6+WV?K'X\F^__OKGGW_^[=OGV>1O^>SN5P0
M_G7;ZN 3Z4^_%(_]DG[U"T2_8/BW;_/1SS_%R4WG)?K?//EOW](OGCS_)UX]
M#:64OZ[^=OOH?+SOP=@M_/7_O'O[<37%7\;3^6(P'68__Z__\=-/_S[+)]F'
M[/:G]-_?/[QYTOYA,,QFX^']WX;YPZ_I@5_5\+^7X_DX032/;TTO_[?[67;[
M'S_'9^-4(0-X/='_N>_1Q?<OV7_\/!\_?)G$^?UZY@#49+(1U\VM'XQG_QA,
MEIG-%H/QI,K@RG33[,!_&\QF\85?:PSV4--F!_@A&^;3X7@RWL#R?CD;WD=.
MOH]-:@RZ2G=-3^0A&\R7LRQIA[\/QM,Z@S_>1;,#_C3X/,FJ#.]I@_,'HP?3
M/]1T=+.XSV:_Y8ML_G[P/;WBQ)!.-6MO8.4D6K+U^<,T^3\B3R)=5/Q0IW<K
MUIP8V[$F[0RH'&8E6C8QO(>'\2)U/8_R,?ET$9?YN-R/3WX%)5JV.KRR();M
MH(G!3N?Y9#Q*)I >3-(B__$^RQ:GQWBB78M#>S^816SNL\5X.)C4'>?>3IH=
M],=%_'<2X\VMB]IW\;W"6 ^V;7F(=;$MUU%+@Y_?W)K!_-Y/\C^K\/9H^_:&
M>O,EFPW*F,/E.SA_L#:[S6:S;&3N![.[;%ZL>VH^C]_*;]FI]:AL\_8'NC'-
ML]'*)B^I<<_KM/U)-3.+SH==RC*MUDD#@Q[/O^3E_-%]CS8[@)*"/=RB@>%L
M-D(B\"Y:&HOO;Z:W^>QAI6!.C:M$T_,'Z :S:32 YN^SV<?(D<Q].877D1:M
M#*><%$\W;&5PI3["D^W.']J;:?PQ^S3X=G(P>YYL]/7EQ'6X0:.#*26>@\\W
M,92OV7SM;+R9_A[?\VAS_&<^GBXV_MSI$5;KIKN![UK]/L\7T^3*EZ5 <Z_H
M;L+1??P\GF;)<1QET_DSO^?F]DC39F%I;B 7!&^_X7U)%,\?47=P5MRV/K?;
M[B964FW7Z>S\2;S+9XN[P5U683/V6)-V!E11%U?IHIT!OY]E#^/E0_)0HD$^
MS)=1K/7'7J*W=J:10GJCY22[N=WWM_4G5*G?=J96ZJ,\W?#\P?V6IX]]$7^.
M'=Z]F2ZR^)6?W%,]T:JU8963>;G&YP_R9G8WF([_5<;_W/=HLP,H!\V1%N</
MY_TLCXO\XOOI3;@]3S;Z^G)@'&[0Z& J6A8E6C8ZO%*JZ.#SYP_E0S9)9L;[
M0>S^TVPPG0^&97:\3C5K;V#EQ%BR=7O#+"77<HW/'^1JJR8:$+]/QPL]B*[!
M^^A?G1K<\49M#2IZ,5^B][)2D2:?E]0EM?IJ:PH5-4ZU3EH;=+[R0;+1.BJG
M_AS,1B6_M?H=MC69CX/966/?T[ZMH9;2$V6:-C# 13[\XSZ?C++9O%0<^G"#
M-@934J"GVC4PM.7G>?;?R^B3NZ_)93\UH@./-S^0D@@=;]7$L!X>!K/O-[<?
MQW?3\>UX.)@NU'#EN4:'X'T^&9?(P*G625>#+HMPC;ZZFD*C^%]*#N6>*J=;
M6WOA^6!\RJ:#5=1T%>G^D VS\=?5*T[[>&6:MCO <M]*A1ZJ#G<W]UVNQSO-
M[I+!_7;P.7N6M+2OW60V>](LY=O+E&\/V6KL^WIK;I 1@&;'^;S#YH;Z/M(B
M'[EIP\#N[[;I87]<1/>KC8&_[+BYH7^*YDW6[*!?=MG@<//%8-+P<%]TV<AP
M:S!A\7*$I\7^99;-H_6U\DW?QH<VCZ8N:YR36;\A^[;(IJ-LM#I]$]\QR8?[
MYK&:P^U@_GDUD>7\E[O!X$L$ =)?L\EB7OPFZ6GZ"X";TT7_<_/KH)?S\32;
M;^*-ZZ"B^CQ?S ;#[<HR2=/_CY_C $*99@$QK)D2PC!,*"124"$D UY3@XG2
M[.D\5SEV^6P#99<331&829Y.;'R*8.OXWC^J37E/!P$3PIT13#*GJ090 B.T
MY,9(!P#"Z,3D=YFD9L.?\EGT??[C9_CS3_%OUBES;]=C.W@N;,6KQ8OO?S ;
MON#CTX:;)W[]LDKB_65X/YZ,BM;I<%P;%,@[ #G.J_A0?WW^I3;X^98_'O9Z
M/VU/!02,<BZ41D(JI[5D!%ICO:>$F(M\VH\QR&+LNV+1WW?^]&DWPKUG\E6[
M"A1Y'*EM(&3,4V^U@+X 1!%Q"I K^=Q+TR+O%.['#[_UCVQGI.K;>%[B^WK6
M(GAK*9(<<:V8\=PKA,!J:E&E&0[DU3"I/:$?6$S.0_I")$H_SK+,Y@^#\;0B
MG9ZT#=H2@CS5V#-,B>4&6E5,ET(JKH989\N[!'_.@?8HDU[LI<1?A#?3R6 Z
M,EE*NWB7/7S.9GN8L/_! *)QQ!64R%H,C9>>FNW8M$;^JL5>4TQY@XA>1F]$
M\S5[L\@>*JY VV;!0J&LC\LWYLPC[#&EKI@DC C6HPWJ'VTNN0S5A;NZ!MEC
MMJ4B"W?3\;^RT9M1Q&E\.T[36Y^\VGPXHTC]M_'7XTD<;C:/?[=\R$9%XLH!
M'=3&JT+T\I"DTE#E/?10<@H>/UW/K\^=/H\E>:_$<5FZ/CMBV %KG[TQ*&2!
M)09S2%$$32EM?($6@=)=C2[M-7G/D\IE.;QS*+8#_NZ\+2BN/(;"0R"8D1([
MQ\WV2]?6UN,N_HN['4FD0_.SXD35OHD>Y'A[+PL$.QW!M )JZS1#7#)= *J4
M/Q6G.$!Q4IGB+V)?O:9X;P1R6<V\>Z#DV<FI%C7TGK<&8)F!SB&5_!".@!5:
M%*@YJ6MJ:OJ7INY8,J],8YOE+ EMYR]6BU5'*OS VX."7!C.'5406QNU!B./
MQIT^&: Z\#&P*_\8^BNA5_91[/RFHP]AYS=!0,MQM T=,PQ(RR/4J("64U+3
MH.%_&30=2N65$7XG ;5EHL<W!4 H,$AI!BSTD$5;46UUAS%8UR.X^(O@'4BC
MHRR<XT>M7F_FC7'&><6TP5X[[N)2B<@&;(JA43]>YHV5$$:_4,2O0 ,. +6%
M<4TELO3J(@/GT>+LS)M*<+^JS!MBH^X"1EN"N%(2 ^RV4P,:7D^,J3VAE\R\
MJ8;TJ\^\D10") FF4FC"F;"$%/M9E#EQ/<0Z6]Z5,V^J0=MMY@VQEL4O1D@9
M=;) VEL'MSK9Z^L6>TTQ'<^\J89H!WKC0S:8N'DJR1:M8S4<+A^6J^(/-HLR
M&HXW-6'FP]GXRSHAO(B@GUBBSNHW0 .@HX0@9K0R7&,![!9M:<'5Q)L[6\BZ
ME$=/:/O;X"%[G,?)5;!NEX$[SP SCCJIC>. &[,5"4.\)EE[J"4[XE -YC8@
ME^HKJQ_,[],TEXO)JAZHN1\/!W?YT47V:)N@XA)# 9'&>F>(%-"P(K^7&8AJ
M;GN^4B:=)].\'<P[46W[JR_I[[M_<W+Y+=M)B,ZV%!;$+U,@B3T0RK(" (AX
MS>V''N;'=+C6M@1^Q^PKL60^?S@8(1V%29\3'&=#B9+;S\D*<SW)^FT(^0B/
M:L'; 5_4[>WJEKML<X7"P=7O>(. @11<0>!)!(<H0)C<8F2!QE?)FZI"S5N
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M&]&;R4$FV/6L1><(]BA':H/9Q9JTX_Z>7H!>/!P0( !J*!0 @A /L02VF)
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M:*JE'2/"C-0%Y2T1L.8!O1X>;FE<D32#:"=[<9.4K9%2GKY_F@VF\\$J+[@
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MQ7J[XG*-:A*CAQO$31&C#5@[4S.?!M\VFE!GT^QV?/H PXL601))@4/02JD
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MNF*>#?]VEW_]=92-DYH@Z8<T0;*C'>*OPGIP'[*[<1K3>F-ASY0./1J0,<I
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M.D"4+@!RT%Y/8>HV2%-JF[T%,?24ISNI!@V3=:?G !Q#*$J$Q^7?8^PQ,:B
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M\YNG\\*/J]ER_2@^?(!5;5Y3!(X9DURQ$!"5/'@DZBP9;?R$ZEP,P+0>@1^
M?>]F#X]J1O6TVM;#*=?_6!U.M3[6M @$-!.&!%)1I7PL;'P]6!-P[GIVB4K<
MZ2SK&.Q!SE._//7YZM:7?QZNU?[MHX5U%*/( HK.@A6EK(KA:3 6Q]STQA%Z
MHP9@SHG@#L"4M]7R>K;^?+5Z-UMMGO[P0CU,G3;K]?W=X0VPQ5L*9CVA7$1&
MJ+%@5C$3ZX!]HQG*#&-L[> :67I]+L/Z0WX(\MTGC\O5[0>0\*M%G5Y_L#"1
M@A;)HO$<.R*0M:RV1"RA(G-S&Z%#; @"G0)M>T_$R\SQJZ]+0/#S_,NSD?GN
M?G7]>;8N;UXA0YOFA0##0B*F)17$&.\M<[5GUZ#@,G<Q]5-1I$? NRK<M7[N
MRM7MKG^U$^-#M=A'I-S7%=[Y5/R$ XQ4(^Y@=L1ZG%:&S+5'_W3$&D@ 0YAQ
MJ^JZ+&^V]6W\/(UDOITMM\]FPB%+[GCK(D8LI75:>BX%U80SN\/7298;6H9^
M*M+U!WA7B]EE5B$,3 50%!QSA!!ML!&B-FF,-R+75W_IEWMUMR:>04H9B6U/
ML^KVVUE5[6:5 \-D#SD;M2V0D$I2A2(L_E@JHWW81?!X[W.O!/^Y7/1]P=T#
M8;9FZS;RO-KGP\IZ3R&EPI0'AZ(D6@C,I J[D:&@,HGT<WG@AX!^B,QQZ-5O
MR_5F=9_PJ/7,][--&6YOR^M4X._@R7?6>XI(N$%&!Z&]X)Q1!4I%;61[E7V!
M_,_IG>\3^F<&GJW0Y#8&Y2<K+RD)Y9A*+VS$/&X3L2UVV$6" XOV6 SD*?Z$
MP\K6RS('6\%\!%%8^-Y?[=P,N5\I>-26.DMM8)+##]:F0/?(!<<"*YYY[]4(
M V-ZH\QQ%\1 PNG,!7:XO[L2'5>WSVG0_7&WP>? %M&<1 __HXIK# L_]S+"
MHFPC+,>Y%N,(%?G1DKA[*?6X4_Y>K3:?8.]^6VW*];O9P\LJOD/NATG1>"YG
MTV#;>[T!6%8B<B:TBI1SS[P50@=,K6.&:HR/'4WT,[C70'[N^Z&EHN4;"J%L
M--)HT/X1CX)HHK4#/BEG)/R:F>TRPBWL5/%70^ [\+R-5;59IC^?L6QZ5_.8
M4Q553&$;@0EBH_-(RN")=0Y^$<>(/(1!>ZSB^2M/%Z#$*". .YQ8JIV!'4#4
MP\+>9&:;7,[\;"S6@W9H#I8#^#M^EHJ21DK#D>6*&B1) )5<ZQIX6':GM<ED
ML^X\Y2/;R68()^!HRD<RA@VVL%G[R)"2)@;E=Y(+9#I72XR-:AV5CVPGO_.6
M#F0(>[\MJADL==!10F/=UW3STV2XUKLPFY4.;(?W2(IN#5\A#G&D DYU7' 4
M#MB/E*EA2D5=)N,<ZG+G'A+RD3!SJ')PA' <9+0()C]F7)/(ZE4@@&SX9);)
M@3C453FX=G+)J.6Q*LO/U>+F_>RZ_#I[.%K79>_SA;%,1RD%#\Y+$9!//MZG
MGDJ,?A6&:R[+JGN\!P\R.+)[_OAPH3"/AAG-';,.!62#8?6 ++'3*9K:Y99X
M,HZ#$Z.99;FG2<$<"]ICY4*@7N%(GW$*E,OIK#*G"/8@1[+![,B.>W*7M[?G
MOFE8:"*H=<KA:(-E0=G@\&/?/96.3,BN.UEZQPRW4X#-*!;UN4R[F-F\A>]^
M_@0[9R-*'&M6V(BBU<1ZV FIX,H+RNI^F^ S$RY';U&=2(B.86U/AP_WH"*E
MD,IT7O]E-5]^:E*,]DBK0KIH#$4>$6DU=9PRK>I>,^$G="U EV3H%M7!-8LW
M#0J$[6E1:*FIMTAB%2+C1M,82#TTQ4.F/Z9UJ.H0V1W]J9^Y< ["E$<I/(8)
ME:Y:;]9OR\/'X:^V*%)%3>FD,D19#9!)%4,]-.IS+R4<O>*1(=L?N-(%H(.O
M*A$L;W.7KE)LO*P\-RF,882IH*/B,469@<ZN=]J445/52KI@2R>(3C:Y E;I
M=..S$U81DV[UL='5, 0F,Z_$&KV&TS6QNH5Y +:E1,AURH0LUU?+\*\-*&GW
M\_7GQRC7(T60CK8%4#VVC$K&L4)&D&CL3L.+0F1N;B/,V.F:55U#FY%I^**D
MP)MJMGRJAV,?/GZ>KVY2W9S7*D8V;%FH2*..G! %ZZX(V+M@ZMYS+*93+JLK
M8O0#[.46%)$642^XDX(:3H14%O&G<3++<B_J&V'!]RX)-!#:@RM)=K:>KS^
MY&8W5\L_9JMY,D+3%GRH^EK35Q34!!Z-X5;PH!!F/C*Z&[QWF=ECK>MF#6_+
M=ZT<=89Q^V7KM:CZ=ZOJSVT/RNOJ'J;Q7JNLW0L*XZ3S*B!!J8#Q*.?Y;K(@
MF7NF-,(B6ETN3;WA.TAX^.-2N75!N-F7^6:V2#ED!P.Z7V]22",0,SP0SJ1W
M5B/E=X.#"9*YKXVP4%;72TU'B Y EV\R>V;SU1^SQ?V+G*0#K#G2LK <T^ -
M4[!38Q41B;X^:V,NB-QB+R.L>-4U>[I%=N#TL'>K\FY^?Y<R9+?AN;!(3B%3
MS(%=BPF*44HK&=562\,CQ1@CKXQI6\]@+)EB'.SS8*5443MM$-51B7I8$NM,
M%^Y('?ZGB+5!IE@[+"\@:,TZ$8E!RG$> PH<1\V?!A2,RR[7-4YR9$OS>-!:
M.QPO+&@M"NM8)%+2@*5RE,">5P].JMPK<D=/DG:";1JTU@[,<06M12MB5$%[
M$XPE 6QHZ^J^VRBFM96<)KUV06OM@&U/BF]NV7SZ]-7R,!\.MBFP-9I$0 !3
M&6,D!'M5]SB0F+EQC/Y@^$0J=(EI1K)$NG2W6E[=;Q;E9FTV;^>S3[/5K-'J
MT*AM83R*SJ=;>ZQ!SN# A=UA8GCF C'Z4]T36=$'MAF1C)MJ67ZMJIL6>\;!
M-@4C/,*6R:11SBI@L[ [/A-G,]DP^M/8$]G0):9CB6<526DRBE 9-(H$:RMC
MW>L8<H\T1G_\>BH3.D7UHN)9*0[14QA4%,Y*;+D1LAZ:USXS/*BU>G&N>-9N
M+--<. =GRG\N9W>PS"7W^9-OL3%E?FQ:$.&D=AXC3*3201EC=ALE#WRJYFJ&
MM ^RYV1DSTFCVB^=PZ.Z;8&8\QY+C;A2V#GBGC6N2#GMO0*F?B32LDQY+3?3
MH%(FN&/@TM,L.!9VW_@M!=AX+.@(NKN1D:H(X-:K?!0F]\*8T5M+ [ K&^2!
M3]*>"Z^_6C?R\L_4.,5<(>M]#-*B=-VJ-#(09>%WY(]><#O6,S4C#<66"IJJ
M=4J%M62Z'E8P./=RBG'.W%/$VN!,K1V6%W"FYJE30EM8=A2B$A-&P_. G)A.
M+9J3I'G\3*T=CA=VIL:\A<U.:24=9PYI[1BN!Z>%FNK!:SO!-BX$T0K,<9VI
M:84TCUX8APRQ1$I$=F#$2*9:$21'>BT+0;0"MCTIW.?9\F91KIZ\]RU8T:!E
MD7(GF)<69H;Q0K(84M#I8^^ITU,ML'<B+;I'-N.L=;;\\W[UD*+Z7A[S'3YK
M/=2F<.E>-X:0=$%Q[P6G9-=C$FSF7C%Z._%$+G2)Z1A.W*70E#)& M*$>X2$
M $B>>LQDS#Q#N:33M"P6=(AI-RSX^+5JS8)=F\(Q)3AACD?G5!",6F=WNYHE
MF?O")9VD=<6"7$Q/C;NXNG6?Y]>S3U5&W,6>MH5-$6K(:R,4QBI(3O!N-;.:
M97JJ1Y^=>"(K^L!VC%$YC&BPJ[1ER&)O%&C"=,=O%EEF9<K6"847S8YNL,U@
MQV+V:;V9W=XVUB4/M"BXP:#L@%'DM(@H$HKDL^Z+^513!4]E0F>(9LE_\]L*
M3)E5M5[/EY^:4N! HX)3JQ#80%$@9"RBVA%6]UDY>\PI?ZDY?Z>SH#M0,XCP
M2B7E1EPXUJ[@T5"+#>.2>TN#<,CNG/D8-KY,#]3HL_A.Y4/'P+:GQ#^@!TMS
M#?@W9L.A)H66@BMFHR*I4J82&M3B9PKG5IW$4_=%=HAI>P[\GQ05^&XQ^W<S
MA7'?XP4HMU1XQ8A5Q'/&D?)NI\=PF9O:,76'8T=XMI=[7V6(L?<HQ9F'*'B@
M(2"C_>YD5[A,2Q)/W=G8,:Y9?+B:_;5.KJV&/'CU\0*9$#F%A<EZ2IP#BU?3
MIWY:'&CN<=0%5)(]G0%=(-I>\N]FU_/;^?4?\_)K(]'O?;ZPUA.<.FN3+HNP
M5![5/=6&Y%['.'7G8E> MA?]_W</FD>3_(P?'RR"-RAH0K"E.-77$E'6&Y05
M4>4N]%/W&9Z,9$9*S@QP_KU:SJ]GH&E<-UO@#S<J(HTDNHAMP%(JD5Q7;-=G
M''*OL)RZ3[!35+.8\'&V_&.^6, WWY>?MI=OMDG7:]J^0-PQ3U#<!OH;Z#^5
M]<&8M<+F!CA.W5/8%\!CR.;4'C-AA/4VPOBYX*FBRE./N929Y\]XZF[#+D$=
M2SJGET0(SY7UT?* L>9DU^NH<@-2R-0]AMW"FF$CIEBYQJ["/4\7RB@1H@&F
M6A9D-(:PW<HEJ,D\/2!3]Q)V V>&T.^OU]7RS2PLKY/R<M/,3WBD5:$<D2A@
MQ1TH.\@BR46H>^THS705DZF["[N%M3T9$O^N;O^87X,T_H"?RX=&;#C6#/JM
M=3".<*LT#S2"KNMW/@YK,LT),G6O8<>XMN?#'_-M&>X4(]E\8SC<J(B(1N.8
M #/8:\2%DZB.N[84D=RE8>J!BIVBVIX)_RS7F_7\IGPW^WN^ .@;,>%PH\)X
MV,"4QR980IEA3+"=/D,5R[T\:.K^Q$Y1O:BJ'T%K*WETW N)I7"4Q?K W(9@
M:29AQG_VT&7N7"Z< S#E97+S^W)[ZWBZ161>KMW]*J%FEC=OJ^7UXQ\.$*C=
MBXJ "*A21H.-38(-*M7\KX$P7@V5D7G.&Q4:<^% H>K.D<[P9Y3PI717_9\;
M^.KJN4/[+@?:WR %_W-L0.%F,7)+I1-A9WEA%H=*L;HD5G2*Z.!;TU!WVQD3
ME#=$Q4"5 VM."%7'_%BF<PL0C=X8.GVQZ1/FP=D&/9U7-_-K6#SO#N]F!]L5
MT5GL4YDWCH1C,*7"\S"IS56*1F].=<VFTV!]9L\@=6&V^N!%%WYA/%VT'8T/
M&',=F'+6,N)M=)02$8Z%%S13!@Y6S]EB^!%0L_"RO_:I!RU>443)?0Q&,FHU
M6.#$@E+.M, <,2)D;LWCD3J^3Y%I-0C &=KCP<[4UYKL[C3I@$%'WEG L@-[
ME=5:"\F1@Q\8-9A39[TS@H>!=- )4:I;Q'M<]Y/55"TW\#.T^%0K.V=9]%_O
M2H/%_W## I U#G2TX#CCT:;_&)*I6"2-$:GSW*CS^WQ9K>:;A[JWSZP\--5;
MM"Z"\-XK#-PBCEM)C"<2.VVH%)&@.)T"4%V)O^H;X^&G\1EK]_4UFQ&6#E$A
M/9.$6V*4,L0XZ8G#8(;18P% _0SV>3/X</_G>GXSGZT>KF[?S._FJ63J?/;G
M? %,<M7=E]GRX6KU] _)7?%T[^RQ\G_=?* PG&MO21"@RW IA5:22+!?X6\#
MD1,J2MP5B:H1B*&QSV!=7O_W3]7?_^.FG"?JLO1#8BQ[P5CXJ^)-^6FV",L-
M='5/7<%7GBHDP;!Z*H!*"&YA4?66*6X,$2@BK*93(FQH(5==8=XY41Y[LK>\
MX/>/%$X@F$%2JT CUSH:9P*#OXF8$JOEY:L<)\FHZ@2US"2]1X7A!4G?O#N>
MHK>W4<$4&,-4I"IF@7M!E/(Z:.L<C<S3W!(.(Y-TGI2^S\?K"L0!7,>9ZUV3
MP_937UU00K5GS"EC$(=E5&.JG2%12RI@.$.=RD]V^SF3H 9@]?>&W-77ISX_
MG^+8AW>S(X?]+=Y2P'3&2E!*X#? FVHL0*M4#!')-,.Y66TCY.I@9#EBG'<G
MC;$0\EL+YO&14^GYVCL+)26SBLI@/>:>.:U)"A)CU >JJ!G*^3M$ ,*XZ=J!
M= 8@+^!T5RT_;*KKOP"BJ]6'38J\V-X<#X/Y\!D$<8"F#5K#?$U7W"I,>##;
M\Q<B+&Q=7#*8QMYDWKHUPL"%L]&Q>RED) %\-R7>ES?EW9<DM&T_[&P]7[^]
M3WKRU>W'U>P&IH2?/;RV!)[PMB(P$U+VHXX$\6U"O$9<\Y"*P7N<>TO"",,:
M!N?:<%+IG'MY'"N$B(1ZG@*M,6<&*8:U=Q$A;SDHX].Y7G*,7&J)?H]',5>K
M3[/E_-_;EN<X>'GY?5<MU]5B?O-(JF6Z0F\WJJO;.%_.EM?SV6*[_J=XI'6#
M\YE.WI_JT6"0C19"P,3FUA"BC:)$"T8%$^<YQGD[V]ROP/"^^E*NMF,XI''_
M^'#A')&&B:B0P9S(J)53C&%F'6,HY&HN([3[!N; ]]'@IR(_T.P_X^GK92P"
MH$@**F((L!UP0ZQ1)ACB/7(6?J7'3,^?^RS7@F5HA HT'3<(KPU.E=UX<("<
M-#2W3M94%YO&7.OGR+>=M$9RY O*-Q?<.6."Y@9Z+H-G-.6$$Q<=S2W'.3Z*
M#2WD T>^[3 __Y&O=4K*B+E% OY/#?0;?G5&8FR\R:W',QZ*G"2CO4>^K5 ;
MQY$O)DY3Q9%,UVTCHA2&KX:HHM+(P*(Z"4GG2:GYD6\[$'_R(U]M*>!O.>;1
M<D*UXB80[8Q'A'"DIA.6?J;MYTR"&LL)6Z='OC$H%HER+$:P904U6"M)K3/4
MVQAP9CVJ$:V.PY/EA"/?=M)HO[_63NOW)>@%ZV1L_#Y;0@>2R?$(PKS<=U31
MJ&T1B;.!*^.5U=P98DQ4TF$?923!Z<Q(W3&N?4/SJ2\9].A4>K>JOI2KS</;
M<O/M-X=Q)M6??[>8;2LMA/^ZGW_9WJ-\W%%TM&V!+,5.&:DB 9012 Q$:6'[
MPK!OH:-5NP8><KL\G3:O22>NTM*$@$5<2ZV=9H@CJHA0WM#I;"$=<J(:#.]A
MIO<97<8]SW+*;%#8R$ UQT@J#+8RP<$A+;D2QUQ)_0SYS6QY<V!4Z9\+Z+44
ML*LHQQ$WD1D8">(1:4.(<3SW7JJ+G)5-95B=C., -L)OR[]!BTP#M/< S'SY
M"09=__C;W9=5]?>C"_D 0QJ_ [##VV*)''0*3I0QU$87'*.$*N%R4R-&J,_U
M1Z.^P!Z :Q_+):#1D%0_/EP$8S%R4<"8*-<1@8YK3= 4<P$#Q)GI%B,,B>N/
M/2>C.@!-XOQ?Z61[_7+@_T@7/1Y@R]XVH$2!C6(4%@'4)^NPC4QH#T8PY]IY
MG%D.=X2Q;?V1IBMP!RG[]'>YJ+X\EJP"1*[+@[1Y[?&",-"V"8)]&2:$P=((
MSY2@#/XSH(UGYMB,,(*M/\9T@.L 9'GV>SQOJC4F9N.J]2%E_WCC(GJ&C:-8
M(^UXE-B*X&%FL*BH=SQ7VVE_JU.UF2TNE$B=HWQN6EU?W]_=;\LT^A+$>#W_
M)D*R+<]>?UNA/,8B>D\0:'[,1B.$)5X[)*P*VF6Z39M?**4?B;<LT^6+-U.D
M7B? GYF++_RH+7D'+8M N)'6<R8C!TM6*2IX,C5@]Z?&R<S J_:74DUT<6L/
M\3"NN;>S58HV_;N<K(\N%3 *4:7BN5@A(QE G8I1*LP<54>O8.\[''/O )H'
M7!Y^1>&$"30J2Z5 QG$BD \U %*%Z916[) +>\,E.\5Z$'\@S/IR%SEJ9]#O
MZ_+#Y[),O3<W-]L;LV:+YZ.$M7V /WRIUK,%&(7W7];PBL7]-HLIE?U;;N;+
M^_+F.4I]3^3EL!THD!("-$1# \5@LBH6'*F!#[!W3X;DW5/Q!X?D" 4VA*NA
MS1">KR$YY(W(>V/AF,56$^]-]"189[2IH?&:X.G4,QL;U;[W>@PBO_9Q.F:U
MJKY^+F<WVWOO&MPYN;]!H21"Q"F* D8L>B? QJG[:J.>3KY%[\*L>L [(PG8
MN/\HYYN[V?)=M=K<5HMY=?CZN7W/%R%02464PLH8.5'<6E/WU#F9>Q'IS\V,
MKN >8#_<JUZ\:1 E?;QQ@2-'U$B*O'2"\! 4P?6 D3>9IW\CY%?O&EOG8 ]R
ML//L9GM;+;^LJIO[ZR.NT[UM"D>PQH%$"_,'18V5C[$>GC3Z\DLT]B'J'\YX
MND&W_9Z5!K%Y^+W<?*YNGCUG'^[O[F:K^;_+FUT"Y&_+VVIUM^WA/V %?E.M
MUU?+#[-%"4B\!Q5REE3$U/;JUJS7Y:OQ"/U^L+":&^JXYQ@43BR]=H366"DF
MIQ/AW ,31R6:KFB\?@[DO[K=1??7X?X?JL5KL7JGO*[06G(A!#&*,QZL0BE1
MYFF<3.K,B-M+"JOI@X*= ]^>8,\\3[&'B>O[%KA7GBP<$D([)JFCSGF"O>:[
M59S2W!MV+BEPYC1:G([I &J5O5_#(-=K5]W]"2OE4W$!,&(^;7- ENGNV]63
M#%>SY6-NR-I]3C_^MC1WZ5:7J]L]3789+/B DC90#PKG*"*6<BU0JANH$4A@
M"SVU&LRQS#3*2XKJ.5WE&Z>LVB^,:5I6V\V_6OUS-=^ A?YU61W6 0^V*:PP
M0BO%J"(:- :*;=A-; =#&"K4YQ+9U36Z[?FP_>+5[>W5[8O M3WQ7P>?+XC5
MSB*'$8-^<>)X5+5)[K&EF;&#S2-O+IT'72&;KRRU71>.MBNB--PZY[B*,&YN
M#3=^9PXKF[GSM(^4N51.=(WP,($RY[LVM-_PF.!A"HK(*4&68TVM9\PJS1!(
M$_398P= ?8?'/,=4/0UE7AZ_.S+G-04/,':G#,:2<P>L<Y&2 (M48"CHJ*;O
M0VS/B;UA,IWCW>,D?__BFO6/H.:N9]??5,D<<J[OZTN#J7ZL:2%@H<8>"XFU
MXF"YIC1DK!CLO$Q[*X_5\1QVP.TRTEN\I9"@< HIG,:$<\*U2A>'@ +*,';,
MN.F4,^V.$#_$N?:%]AEF^1GC7ON<[$QI;X(4AL<0HZ?IPISM%>S2V6CD,2=P
M_]OZZ_VW#]_\2^,0V!;O*YP!/BKN620VW26$L2=/T#A!^70."[LCR8%]OB_<
M!W"6_C%;S5//WD-'CT2Q?O]HP:7@C#!!C)%!QN3),O5@G"13+"+:BZRK3G$>
MF#1'(T!_?+C@2!$:G8;-D!DC) ]QAXS6:CK1^/FB/,")+! '8,6;:GE3+;>G
M@7_.EG]=W8(HRIO4XS>_V:OW>T/P6K4O2*3*:D0B6$H"5FIG!*Z''6AN[OO(
MN=-6Y-^7:>D!V4$3_5(D].OIB;Y<7Z_F7QZKA.]2&0]O9">]MQ!$*L6YI18'
M))R 5=WOEO7(,FVG$4:W#+OK#2F4D7 WQ=$^C^/H1IK[RH)3F68T4RBJ2,'H
M));MP+&3LO8'X5 &<SN02_OC'S=;WBS*]69^_=>[:K[<' R"?_WAPB!C=+I.
M,V+K%4'>$UWWD1HTG=R(_J58=0SV(*M8DX7_Z';;]"5%" 'T8XFC$3R"LJ.%
ML#L51$<SF;"]H??6GB0P, 4;;)'?/UPH$HU&VDHBHU!1<(1WT].0"55Y[$/(
M!WB4!6_[/>P_T\VY3Q<#E3?_.RV6?P 83Z6[/GZ>KQZ[\UCE^>;YI.W@9G?B
M6PNEA'16><D,4<1)+%RL1\UPG$Y!WU,D7IT+[_8L>UNM-I^_PH9<KI:_WV_N
M9XLW\]OR((4.-2D<H^F*2N6"HAHL=6UTJ/LK \J\.V>4-V]WQ) .X>QTD<E=
M1NI;88)76AL,^ER@)B!.Y,ZF .TP,W9NA I-_PM%%J(#*"CF]G:^F*?NANT5
M0T?]G*\W*(0SD>%@!<*P)QN!*>/UP%*)I,GD)G1 E4ZA'((CU]<I3GS]MMJ4
MZS<5*&>P[3VE<2T_O2^OR_G?2<-/NEK]\T?HW!'+ZI37%D(CV$V-IS9PK; A
MVN%G9S+.C/4:(=^&M;4&E,D@UM?+/C:POWY\O*":**.C)2R8="L#)6Z'I/>Y
M):Y'J"P/(_H?;+*3(6^O,+V8+J"DI_$^=^-]>>->[.'_46VKN*_?+*X/ZE*G
MO+) ,@1-D0[$!>X<LISN%$3%U.7?8-B-M*NSP#W ,K6=<<\#.*J"O?I\0:TC
M7E@N;!0D59O@4CX-RQ,B,GW=(SS9ZX1%76(YA KV=;:Z::)3O7PN:0$X,"N1
M,(A3JQ2WHAZ&YBPSQ&F$&98#*TDG@#P 5SY\!LSL;)W6P;LO)4#P??ZG?7A^
MYMWL89LYD,;T/+#E3<HM:%0CKX_/%=90ZH@1+" <C%)(T-IEYJ.>D-\[DTO?
MAW.>7P;MU; /F^KZK_]<SC>'W53?/U9H[A3RRE/GJ3+!.!KJ*#3/'9^.^_J\
M4JTZ$T%..OCRT\=R=??;,A7LF/]=ID$<9,F!%@7Q$D4P0PAGS(-EPA2I%3[8
MY'6FKV"$FM%H"-.=-#*7E>UX&JPK+Y\K(I?118Q<4,**& U6>L=J0C/5I1&Z
MNT?#DU-E,( V%>Z^+*J'LMQV]6H;>7740-O;I@!;TT@*-@1/.1L<:2UW"V>
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MAV/.\3LY7SY76(&IH3$ (LPC8HRG[&D8ED0Y'9TI2W:ORS\+NO.9D5O>P]2
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M>E]X@K0GZ7(XC)1WB@@F1?* /PD"V#!41-.%W"_3F+;G39%N)]0QSRX8WN-
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MEGKFC;1": 7#W&W9RMC,!4G^1'3J"-KVN]+OLW_-[^[OS*=/JZW-\J)/5[>
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M2P$"% ,4    " !U8:9(SK1X(RX7  !:%@$ $               @ $-=0$
M;6%C+3(P,38P,S,Q+GAS9%!+ 0(4 Q0    ( '5AIDA6F(?@J28  '.? 0 4
M              "  6F, 0!M86,M,C Q-C S,S%?8V%L+GAM;%!+ 0(4 Q0
M   ( '5AIDA'/Y)&CUX  $&E!  4              "  42S 0!M86,M,C Q
M-C S,S%?9&5F+GAM;%!+ 0(4 Q0    ( '5AIDCGCQWPPOH  )% #  4
M          "  042 @!M86,M,C Q-C S,S%?;&%B+GAM;%!+ 0(4 Q0    (
M '5AIDCI;A<P\9,  *!@!P 4              "  ?D, P!M86,M,C Q-C S
@,S%?<')E+GAM;%!+!08     !@ & (0!   <H0,    !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
