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Investments in Unconsolidated Joint Ventures (Tables) | 9 Months Ended
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Sep. 30, 2020
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, 2020 |  | December 31, 2019
Assets(1): |  |  |
Property, net | $ | 9,403,481 |  |  | $ | 9,424,591 |
Other assets | 845,320 |  |  | 772,116 |
Total assets | $ | 10,248,801 |  |  | $ | 10,196,707 |
Liabilities and partners' capital(1): |  |  |
Mortgage and other notes payable | $ | 6,170,353 |  |  | $ | 6,144,685 |
Other liabilities | 501,544 |  |  | 565,412 |
Company's capital | 1,923,794 |  |  | 1,904,145 |
Outside partners' capital | 1,653,110 |  |  | 1,582,465 |
Total liabilities and partners' capital | $ | 10,248,801 |  |  | $ | 10,196,707 |
Investments in unconsolidated joint ventures: |  |  |
Company's capital | $ | 1,923,794 |  |  | $ | 1,904,145 |
Basis adjustment(2) | (460,899) |  |  | (492,350) |
| $ | 1,462,895 |  |  | $ | 1,411,795 |
Assets—Investments in unconsolidated joint ventures | $ | 1,569,887 |  |  | $ | 1,519,697 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | (106,992) |  |  | (107,902) |
| $ | 1,462,895 |  |  | $ | 1,411,795 |
(1) These amounts include assets of $2,891,122 and $2,932,401 of Pacific Premier Retail LLC (the "PPR Portfolio") as of September 30, 2020 and December 31, 2019, respectively, and liabilities of $1,708,455 and $1,732,976 of the PPR Portfolio as of September 30, 2020 and December 31, 2019, respectively. (2) 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 $3,361 and $5,354 for the three months ended September 30, 2020 and 2019, respectively, and $11,089 and $15,164 for the nine months ended September 30, 2020 and 2019, 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, 2020 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 36,043 |  |  | $ | 155,133 |  |  | $ | 191,176 |
Other | 257 |  |  | 5,671 |  |  | 5,928 |
Total revenues | 36,300 |  |  | 160,804 |  |  | 197,104 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,678 |  |  | 61,457 |  |  | 71,135 |
Leasing expenses | 266 |  |  | 877 |  |  | 1,143 |
Interest expense | 16,267 |  |  | 37,805 |  |  | 54,072 |
Depreciation and amortization | 24,819 |  |  | 73,884 |  |  | 98,703 |
Total operating expenses | 51,030 |  |  | 174,023 |  |  | 225,053 |
(Loss) gain on sale or write down of assets, net | (120) |  |  | 4 |  |  | (116) |
Net loss | $ | (14,850) |  |  | $ | (13,215) |  |  | $ | (28,065) |
Company's equity in net loss | $ | (6,511) |  |  | $ | (6,002) |  |  | $ | (12,513) |
Three Months Ended September 30, 2019 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 46,308 |  |  | $ | 169,132 |  |  | $ | 215,440 |
Other | 668 |  |  | 15,648 |  |  | 16,316 |
Total revenues | 46,976 |  |  | 184,780 |  |  | 231,756 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,289 |  |  | 58,658 |  |  | 67,947 |
Leasing expenses | 407 |  |  | 1,750 |  |  | 2,157 |
Interest expense | 16,926 |  |  | 36,021 |  |  | 52,947 |
Depreciation and amortization | 25,260 |  |  | 63,683 |  |  | 88,943 |
Total operating expenses | 51,882 |  |  | 160,112 |  |  | 211,994 |
Gain on sale or write down of assets, net | 5 |  |  | — |  |  | 5 |
Net (loss) income | $ | (4,901) |  |  | $ | 24,668 |  |  | $ | 19,767 |
Company's equity in net (loss) income | $ | (409) |  |  | $ | 14,991 |  |  | $ | 14,582 |
| PPR Portfolio |  | Other Joint Ventures |  | Total
Nine Months Ended September 30, 2020 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 133,226 |  |  | $ | 466,830 |  |  | $ | 600,056 |
Other | 559 |  |  | 12,162 |  |  | 12,721 |
Total revenues | 133,785 |  |  | 478,992 |  |  | 612,777 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 27,562 |  |  | 176,119 |  |  | 203,681 |
Leasing expenses | 1,031 |  |  | 3,002 |  |  | 4,033 |
Interest expense | 48,724 |  |  | 112,736 |  |  | 161,460 |
Depreciation and amortization | 78,000 |  |  | 208,341 |  |  | 286,341 |
Total operating expenses | 155,317 |  |  | 500,198 |  |  | 655,515 |
Loss on sale or write down of assets, net | (120) |  |  | (9) |  |  | (129) |
Net loss | $ | (21,652) |  |  | $ | (21,215) |  |  | $ | (42,867) |
Company's equity in net loss | $ | (5,510) |  |  | $ | (11,478) |  |  | $ | (16,988) |
Nine Months Ended September 30, 2019 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 137,674 |  |  | $ | 514,929 |  |  | $ | 652,603 |
Other | 1,285 |  |  | 40,809 |  |  | 42,094 |
Total revenues | 138,959 |  |  | 555,738 |  |  | 694,697 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 27,431 |  |  | 177,373 |  |  | 204,804 |
Leasing expenses | 1,247 |  |  | 5,112 |  |  | 6,359 |
Interest expense | 50,920 |  |  | 110,614 |  |  | 161,534 |
Depreciation and amortization | 75,506 |  |  | 205,016 |  |  | 280,522 |
Total operating expenses | 155,104 |  |  | 498,115 |  |  | 653,219 |
Loss on sale or write down of assets, net | (400) |  |  | (280) |  |  | (680) |
Net (loss) income | $ | (16,545) |  |  | $ | 57,343 |  |  | $ | 40,798 |
Company's equity in net (loss) income | $ | (2,139) |  |  | $ | 36,221 |  |  | $ | 34,082 |

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