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Acquisitions
 9 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Acquisitions
Acquisitions:
Fashion Outlets of Chicago:
On October 31, 2014, the Company purchased AWE/Talisman's ownership interest in its consolidated joint venture in Fashion Outlets of Chicago for $69,987. The purchase price was funded by a cash payment of $55,867 and the settlement of the balance on notes receivables of $14,120. The cash payment was funded by borrowings under the Company's line of credit. The purchase agreement included contingent consideration based on the financial performance of Fashion Outlets of Chicago at an agreed upon date in 2016. On August 19, 2016, the Company paid $23,800 in full settlement of the contingent consideration obligation.
Inland Center:
On February 17, 2015, the Company acquired the remaining 50% ownership interest in Inland Center that it did not previously own for $51,250. The purchase price was funded by a cash payment of $26,250 and the assumption of the third party's share of the mortgage note payable on the property of $25,000. Prior to the acquisition, the Company had accounted for its investment under the equity method of accounting (See Note 4—Investments in Unconsolidated Joint Ventures). As a result of this transaction, the Company obtained 100% ownership of Inland Center. The acquisition was completed in order to obtain 100% ownership and control over this asset.
The following is a summary of the allocation of the fair value of Inland Center:
Property
$
91,871

Deferred charges
9,752

Other assets
5,782

Total assets acquired
107,405

Mortgage note payable
50,000

Other accrued liabilities
4,905

Total liabilities assumed
54,905

Fair value of acquired net assets (at 100% ownership)
$
52,500


The Company determined that the purchase price represented the fair value of the additional ownership interest in Inland Center that was acquired.
Fair value of existing ownership interest (at 50% ownership)
$
26,250

Carrying value of investment
(4,161
)
Gain on remeasurement of assets
$
22,089


The following is the reconciliation of the purchase price to the fair value of the acquired net assets:
Purchase price
$
51,250

Less debt assumed
(25,000
)
Carrying value of investment
4,161

Gain on remeasurement of assets
22,089

Fair value of acquired net assets (at 100% ownership)
$
52,500


Since the date of acquisition, the Company has included Inland Center in its consolidated financial statements.