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Investments in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2021
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:
| June 30, 2021 |  | December 31, 2020
Assets(1): |  |  |
Property, net | $ | 8,796,400 |  |  | $ | 8,721,551 |
Other assets | 815,642 |  |  | 774,583 |
Total assets | $ | 9,612,042 |  |  | $ | 9,496,134 |
Liabilities and partners' capital(1): |  |  |
Mortgage and other notes payable | $ | 6,044,153 |  |  | $ | 5,942,478 |
Other liabilities | 391,762 |  |  | 397,483 |
Company's capital | 1,710,793 |  |  | 1,711,944 |
Outside partners' capital | 1,465,334 |  |  | 1,444,229 |
Total liabilities and partners' capital | $ | 9,612,042 |  |  | $ | 9,496,134 |
Investments in unconsolidated joint ventures: |  |  |
Company's capital | $ | 1,710,793 |  |  | $ | 1,711,944 |
Basis adjustment(2) | (465,273) |  |  | (479,678) |
| $ | 1,245,520 |  |  | $ | 1,232,266 |
Assets—Investments in unconsolidated joint ventures | $ | 1,370,299 |  |  | $ | 1,340,647 |
Liabilities—Distributions in excess of investments in unconsolidated joint ventures | (124,779) |  |  | (108,381) |
| $ | 1,245,520 |  |  | $ | 1,232,266 |
(1) These amounts include assets of $2,821,851 and $2,857,757 of Pacific Premier Retail LLC (the "PPR Portfolio") as of June 30, 2021 and December 31, 2020, respectively, and liabilities of $1,673,662 and $1,687,042 of the PPR Portfolio as of June 30, 2021 and December 31, 2020, 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 $2,420 and $3,729 for the three months ended June 30, 2021 and 2020, respectively, and $4,663 and $7,728 for the six months ended June 30, 2021 and 2020, 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 June 30, 2021 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 41,234 |  |  | $ | 150,465 |  |  | $ | 191,699 |
Other | 37 |  |  | 32,884 |  |  | 32,921 |
Total revenues | 41,271 |  |  | 183,349 |  |  | 224,620 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 9,896 |  |  | 56,546 |  |  | 66,442 |
Leasing expenses | 372 |  |  | 1,106 |  |  | 1,478 |
Interest expense | 15,835 |  |  | 36,889 |  |  | 52,724 |
Depreciation and amortization | 24,582 |  |  | 63,874 |  |  | 88,456 |
Total expenses | 50,685 |  |  | 158,415 |  |  | 209,100 |
Loss on sale or write down of assets, net | — |  |  | (235) |  |  | (235) |
Net (loss) income | $ | (9,414) |  |  | $ | 24,699 |  |  | $ | 15,285 |
Company's equity in net (loss) income | $ | (3,372) |  |  | $ | 23,407 |  |  | $ | 20,035 |
Three Months Ended June 30, 2020 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 38,806 |  |  | $ | 139,452 |  |  | $ | 178,258 |
Other | 253 |  |  | (399) |  |  | (146) |
Total revenues | 39,059 |  |  | 139,053 |  |  | 178,112 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 8,240 |  |  | 53,145 |  |  | 61,385 |
Leasing expenses | 290 |  |  | 832 |  |  | 1,122 |
Interest expense | 16,363 |  |  | 36,790 |  |  | 53,153 |
Depreciation and amortization | 24,565 |  |  | 66,095 |  |  | 90,660 |
Total expenses | 49,458 |  |  | 156,862 |  |  | 206,320 |
Loss on sale or write down of assets, net | — |  |  | (12) |  |  | (12) |
Net loss | $ | (10,399) |  |  | $ | (17,821) |  |  | $ | (28,220) |
Company's equity in net loss | $ | (3,777) |  |  | $ | (10,396) |  |  | $ | (14,173) |
| PPR Portfolio |  | Other Joint Ventures |  | Total
Six Months Ended June 30, 2021 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 78,008 |  |  | $ | 299,781 |  |  | $ | 377,789 |
Other | 129 |  |  | 49,851 |  |  | 49,980 |
Total revenues | 78,137 |  |  | 349,632 |  |  | 427,769 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 19,263 |  |  | 115,385 |  |  | 134,648 |
Leasing expenses | 775 |  |  | 2,459 |  |  | 3,234 |
Interest expense | 31,637 |  |  | 74,103 |  |  | 105,740 |
Depreciation and amortization | 48,887 |  |  | 130,416 |  |  | 179,303 |
Total expenses | 100,562 |  |  | 322,363 |  |  | 422,925 |
Loss on sale or write down of assets, net | — |  |  | (181) |  |  | (181) |
Net (loss) income | $ | (22,425) |  |  | $ | 27,088 |  |  | $ | 4,663 |
Company's equity in net (loss) income | $ | (8,879) |  |  | $ | 30,824 |  |  | $ | 21,945 |
Six Months Ended June 30, 2020 |  |  |  |  |
Revenues: |  |  |  |  |
Leasing revenue | $ | 97,184 |  |  | $ | 311,696 |  |  | $ | 408,880 |
Other | 302 |  |  | 6,492 |  |  | 6,794 |
Total revenues | 97,486 |  |  | 318,188 |  |  | 415,674 |
Expenses: |  |  |  |  |
Shopping center and operating expenses | 17,881 |  |  | 114,654 |  |  | 132,535 |
Leasing expenses | 763 |  |  | 2,127 |  |  | 2,890 |
Interest expense | 32,458 |  |  | 74,930 |  |  | 107,388 |
Depreciation and amortization | 53,182 |  |  | 134,456 |  |  | 187,638 |
Total expenses | 104,284 |  |  | 326,167 |  |  | 430,451 |
Loss on sale or write down of assets, net | — |  |  | (12) |  |  | (12) |
Net loss | $ | (6,798) |  |  | $ | (7,991) |  |  | $ | (14,789) |
Company's equity in net income (loss) | $ | 944 |  |  | $ | (5,419) |  |  | $ | (4,475) |

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