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Investments in Unconsolidated Joint Ventures (Tables) | 9 Months Ended
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Sep. 30, 2018
Equity Method Investments and Joint Ventures [Abstract] |
Combined and condensed balance sheets of unconsolidated joint ventures | Combined and Condensed Balance Sheets of Unconsolidated Joint Ventures:
| September 30, 2018 |  | December 31, 2017
Assets(1): |  |  |
Property, net | $ | 9,212,359 |  |  | $ | 9,052,105 |
Other assets | 717,509 |  |  | 635,838 |
Total assets | $ | 9,929,868 |  |  | $ | 9,687,943 |
Liabilities and partners' capital(1): |  |  |
Mortgage and other notes payable(2) | $ | 6,064,931 |  |  | $ | 5,296,594 |
Other liabilities | 390,211 |  |  | 405,052 |
Company's capital | 1,893,278 |  |  | 2,188,057 |
Outside partners' capital | 1,581,448 |  |  | 1,798,240 |
Total liabilities and partners' capital | $ | 9,929,868 |  |  | $ | 9,687,943 |
Investments in unconsolidated joint ventures: |  |  |
Company's capital | $ | 1,893,278 |  |  | $ | 2,188,057 |
Basis adjustment(3) | (543,403 | ) |  | (562,021 | )
| $ | 1,349,875 |  |  | $ | 1,626,036 |
Assets—Investments in unconsolidated joint ventures | $ | 1,465,174 |  |  | $ | 1,709,522 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | (115,299 | ) |  | (83,486 | )
| $ | 1,349,875 |  |  | $ | 1,626,036 |
(1) | These amounts include the assets of $3,047,915 and $3,106,105 of Pacific Premier Retail LLC (the "PPR Portfolio") as of September 30, 2018 and December 31, 2017, respectively, and liabilities of $1,856,185 and $1,872,227 of the PPR Portfolio as of September 30, 2018 and December 31, 2017, respectively.
(2) | Included in mortgage and other notes payable are amounts due to an affiliate of Northwestern Mutual Life ("NML") of $699,437 and $482,332 as of September 30, 2018 and December 31, 2017, respectively. NML is considered a related party because it was a joint venture partner with the Company in Macerich Northwestern Associates—Broadway Plaza until October 12, 2018. Interest expense on these borrowings was $7,148 and $4,903 for the three months ended September 30, 2018 and 2017, respectively, and $19,264 and $12,992 for the nine months ended September 30, 2018 and 2017, respectively.
(3) | 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 $1,160 and $4,227 for the three months ended September 30, 2018 and 2017, respectively, and $8,787 and $12,451 for the nine months ended September 30, 2018 and 2017, respectively.
Combined and condensed statements of operations of unconsolidated joint ventures | Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures:
| PPR Portfolio |  | Other Joint Ventures |  | Total
Three Months Ended September 30, 2018 |  |  |  |  |
Revenues: |  |  |  |  |
Minimum rents | $ | 32,999 |  |  | $ | 123,799 |  |  | $ | 156,798 |
Percentage rents | 1,012 |  |  | 4,591 |  |  | 5,603 |
Tenant recoveries | 11,884 |  |  | 47,286 |  |  | 59,170 |
Other | 991 |  |  | 13,081 |  |  | 14,072 |
Total revenues | 46,886 |  |  | 188,757 |  |  | 235,643 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,893 |  |  | 61,528 |  |  | 71,421 |
Interest expense | 16,680 |  |  | 37,968 |  |  | 54,648 |
Depreciation and amortization | 24,582 |  |  | 61,323 |  |  | 85,905 |
Total operating expenses | 51,155 |  |  | 160,819 |  |  | 211,974 |
(Loss) gain on sale or write down of assets, net | (47 | ) |  | 12,622 |  |  | 12,575 |
Net (loss) income | $ | (4,316 | ) |  | $ | 40,560 |  |  | $ | 36,244 |
Company's equity in net (loss) income | $ | (148 | ) |  | $ | 18,937 |  |  | $ | 18,789 |
Three Months Ended September 30, 2017 |  |  |  |  |
Revenues: |  |  |  |  |
Minimum rents | $ | 35,052 |  |  | $ | 123,663 |  |  | $ | 158,715 |
Percentage rents | 903 |  |  | 3,953 |  |  | 4,856 |
Tenant recoveries | 12,015 |  |  | 47,841 |  |  | 59,856 |
Other | 1,713 |  |  | 12,329 |  |  | 14,042 |
Total revenues | 49,683 |  |  | 187,786 |  |  | 237,469 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 10,591 |  |  | 60,394 |  |  | 70,985 |
Interest expense | 16,890 |  |  | 33,214 |  |  | 50,104 |
Depreciation and amortization | 25,449 |  |  | 62,958 |  |  | 88,407 |
Total operating expenses | 52,930 |  |  | 156,566 |  |  | 209,496 |
Gain on sale or write down of assets, net | — |  |  | 13,426 |  |  | 13,426 |
Net (loss) income | $ | (3,247 | ) |  | $ | 44,646 |  |  | $ | 41,399 |
Company's equity in net income | $ | 620 |  |  | $ | 23,373 |  |  | $ | 23,993 |
| PPR Portfolio |  |  | Other Joint Ventures |  | Total
Nine Months Ended September 30, 2018 |  |  |  |  |  |
Revenues: |  |  |  |  |  |
Minimum rents | $ | 98,619 |  |  |  | $ | 375,447 |  |  | $ | 474,066 |
Percentage rents | 1,713 |  |  |  | 7,664 |  |  | 9,377 |
Tenant recoveries | 34,684 |  |  |  | 142,702 |  |  | 177,386 |
Other | 3,252 |  |  |  | 39,145 |  |  | 42,397 |
Total revenues | 138,268 |  |  |  | 564,958 |  |  | 703,226 |
Expenses: |  |  |  |  |  |
Shopping center and operating expenses | 29,091 |  |  |  | 183,174 |  |  | 212,265 |
Interest expense | 50,176 |  |  |  | 108,356 |  |  | 158,532 |
Depreciation and amortization | 73,137 |  |  |  | 184,708 |  |  | 257,845 |
Total operating expenses | 152,404 |  |  |  | 476,238 |  |  | 628,642 |
(Loss) gain on sale or write down of assets, net | (47 | ) |  |  | 14,151 |  |  | 14,104 |
Net (loss) income | $ | (14,183 | ) |  |  | $ | 102,871 |  |  | $ | 88,688 |
Company's equity in net (loss) income | $ | (1,021 | ) |  |  | $ | 52,351 |  |  | $ | 51,330 |
Nine Months Ended September 30, 2017 |  |  |  |  |  |
Revenues: |  |  |  |  |  |
Minimum rents | $ | 100,633 |  |  |  | $ | 373,931 |  |  | $ | 474,564 |
Percentage rents | 1,854 |  |  |  | 7,817 |  |  | 9,671 |
Tenant recoveries | 34,827 |  |  |  | 141,875 |  |  | 176,702 |
Other | 4,141 |  |  |  | 36,857 |  |  | 40,998 |
Total revenues | 141,455 |  |  |  | 560,480 |  |  | 701,935 |
Expenses: |  |  |  |  |  |
Shopping center and operating expenses | 30,062 |  |  |  | 181,475 |  |  | 211,537 |
Interest expense | 50,291 |  |  |  | 98,469 |  |  | 148,760 |
Depreciation and amortization | 76,527 |  |  |  | 187,927 |  |  | 264,454 |
Total operating expenses | 156,880 |  |  |  | 467,871 |  |  | 624,751 |
(Loss) gain on sale or write down of assets, net | (35 | ) |  |  | 18,005 |  |  | 17,970 |
Net (loss) income | $ | (15,460 | ) |  |  | $ | 110,614 |  |  | $ | 95,154 |
Company's equity in net (loss) income | $ | (1,376 | ) |  |  | $ | 58,148 |  |  | $ | 56,772 |

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