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Property, net | 9 Months Ended
--- | ---
Sep. 30, 2016
Real Estate [Abstract] |
Property, net | Property, net: Property, net consists of the following:
| September 30, 2016 |  | December 31, 2015
Land | $ | 1,635,074 |  |  | $ | 1,894,717 |
Buildings and improvements | 6,502,900 |  |  | 7,752,892 |
Tenant improvements | 593,970 |  |  | 637,355 |
Equipment and furnishings | 170,647 |  |  | 169,841 |
Construction in progress | 282,223 |  |  | 234,851 |
| 9,184,814 |  |  | 10,689,656 |
Less accumulated depreciation | (1,808,046 | ) |  | (1,892,744 | )
| $ | 7,376,768 |  |  | $ | 8,796,912 |
Depreciation expense was $68,792 and $90,540 for the three months ended September 30, 2016 and 2015, respectively, and $206,870 and $271,861 for the nine months ended September 30, 2016 and 2015, respectively. The (loss) gain on sale or write down of assets, net was $(19,321) and $(3,342) for the three months ended September 30, 2016 and 2015, respectively, and $426,050 and $(7,078) for the nine months ended September 30, 2016 and 2015, respectively. The (loss) gain on sale or write down of assets, net for the nine months ended September 30, 2016 includes a gain of $24,897 on the sale of Capitola Mall and a loss of $3,066 on the sale of a former Mervyns' store (See Note 14—Dispositions). The (loss) gain on sale or write down of assets, net for the nine months ended September 30, 2016 includes a gain of $104,259 on the sale of a 40% ownership interest in Arrowhead Towne Center (See Note 4—Investments in Unconsolidated Joint Ventures) and $340,745 on the sale of a 49% ownership interest in the MAC Heitman Portfolio (See Note 4—Investments in Unconsolidated Joint Ventures). The (loss) gain on sale or write down of assets, net for the three and nine months ended September 30, 2016 includes an impairment loss of $23,335 on Promenade at Casa Grande. The (loss) gain on sale or write down of assets, net for the nine months ended September 30, 2016 also includes an impairment loss of $7,188 on The Marketplace at Flagstaff. The gain (loss) on sale or write down of assets, net for the three and nine months ended September 30, 2015 includes an impairment loss of $4,078 on Flagstaff Mall. The (loss) gain on sale or write down of assets, net for the nine months ended September 30, 2015 also includes an impairment loss of $4,566 on a freestanding store. The above impairment losses were due to to the reduction of the estimated holding period of the respective properties. In addition, the Company recorded a gain (loss) of $2,570 and $(12,180) for the three and nine months ended September 30, 2016, respectively, for adjustments to a contingent consideration obligation (See Note 13—Acquisitions).

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 210 -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-06(1)) -URI http://asc.fasb.org/extlink&oid=6488278&loc=d3e604059-122996 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(1)(d)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule III)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(10)(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 235 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-24) -URI http://asc.fasb.org/extlink&oid=34714203&loc=d3e608456-123001 + Details
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