XML 62 R53.htm IDEA: XBRL DOCUMENT v3.23.3
Investments in Unconsolidated Joint Ventures - Schedule of Combined and Condensed Statements of Operations of Unconsolidated Joint Ventures (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Leasing revenue $ 197,305 $ 195,594 $ 589,003 $ 587,596
Total revenues 218,152 210,704 645,380 630,939
Expenses:        
Leasing expenses 8,777 8,704 26,880 24,463
Depreciation and amortization 70,755 72,739 212,596 218,053
Total expenses 231,693 232,099 678,320 688,862
Gain on sale or write down of assets, net (149,287) 1,405 (135,229) 6,767
Net (loss) income (271,965) (13,502) (344,565) (68,541)
Company's equity in net income (107,465) 6,322 (176,235) (16,422)
Other        
Revenues:        
Other 13,403 7,503 34,143 21,911
Shopping center and operating expenses        
Expenses:        
Shopping center and operating expenses 76,358 74,694 216,793 217,342
Joint Venture        
Revenues:        
Leasing revenue 218,181 208,675 635,103 624,857
Total revenues 224,500 210,760 650,884 637,166
Expenses:        
Leasing expenses 1,398 1,627 5,317 4,982
Interest expense 73,218 53,102 209,961 156,180
Depreciation and amortization 84,628 88,271 255,571 268,168
Total expenses 235,594 213,399 688,531 633,818
Gain on sale or write down of assets, net (194,601) 25,788 (266,252) (30,870)
Net (loss) income (205,695) 23,149 (303,899) (27,522)
Company's equity in net income (107,465) 6,322 (176,235) (16,422)
Joint Venture | PPR Portfolio        
Revenues:        
Leasing revenue 44,446 44,157 129,613 136,344
Total revenues 45,041 44,308 131,383 136,613
Expenses:        
Leasing expenses 355 424 1,349 1,258
Interest expense 21,916 15,546 65,575 46,299
Depreciation and amortization 22,240 24,269 67,446 72,760
Total expenses 56,305 51,188 167,839 152,124
Gain on sale or write down of assets, net 0 0 0 0
Net (loss) income (11,264) (6,880) (36,456) (15,511)
Company's equity in net income (4,614) 1,851 (15,329) (2,354)
Joint Venture | Other Joint Ventures        
Revenues:        
Leasing revenue 173,735 164,518 505,490 488,513
Total revenues 179,459 166,452 519,501 500,553
Expenses:        
Leasing expenses 1,043 1,203 3,968 3,724
Interest expense 51,302 37,556 144,386 109,881
Depreciation and amortization 62,388 64,002 188,125 195,408
Total expenses 179,289 162,211 520,692 481,694
Gain on sale or write down of assets, net (194,601) 25,788 (266,252) (30,870)
Net (loss) income (194,431) 30,029 (267,443) (12,011)
Company's equity in net income (102,851) 4,471 (160,906) (14,068)
Joint Venture | Other        
Revenues:        
Other 6,319 2,085 15,781 12,309
Joint Venture | Other | PPR Portfolio        
Revenues:        
Other 595 151 1,770 269
Joint Venture | Other | Other Joint Ventures        
Revenues:        
Other 5,724 1,934 14,011 12,040
Joint Venture | Shopping center and operating expenses        
Expenses:        
Shopping center and operating expenses 76,350 70,399 217,682 204,488
Joint Venture | Shopping center and operating expenses | PPR Portfolio        
Expenses:        
Shopping center and operating expenses 11,794 10,949 33,469 31,807
Joint Venture | Shopping center and operating expenses | Other Joint Ventures        
Expenses:        
Shopping center and operating expenses $ 64,556 $ 59,450 $ 184,213 $ 172,681