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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Operating Partnership's VIEs

The Operating Partnership's VIEs included the following assets and liabilities:


	December 31,
	2023(1)		2022
Assets:
Property, net	$	128,673	$	452,559
Other assets	22,277		93,102
Total assets	$	150,950	$	545,661
Liabilities:
Mortgage notes payable	$	219,506	$	323,841
Other liabilities	78,794		135,340
Total liabilities	$	298,300	$	459,181

Basis of Presentation: (Continued)

(1)On December 9, 2023, the Company acquired its joint venture partner's 50.0% interest in Fashion District Philadelphia for no consideration, and the Company now owns 100% of this property. As a result, Fashion District Philadelphia is not included at December 31, 2023 (See Note 15–Acquisitions).

Schedule of Cash and Cash Equivalents

The following table presents a reconciliation of the beginning of period and end of period cash and cash equivalents and restricted cash reported on the Company's consolidated balance sheets to the totals shown on its consolidated statements of cash flows:


	2023		2022		2021
Beginning of period
Cash and cash equivalents	$	100,320	$	112,454	$	465,297
Restricted cash	80,819		54,517		17,362
Cash and cash equivalents and restricted cash	$	181,139	$	166,971	$	482,659
End of period
Cash and cash equivalents	$	94,936	$	100,320	$	112,454
Restricted cash	95,358		80,819		54,517
Cash and cash equivalents and restricted cash	$	190,294	$	181,139	$	166,971

Schedule of Restricted Cash


	2023		2022		2021
Beginning of period
Cash and cash equivalents	$	100,320	$	112,454	$	465,297
Restricted cash	80,819		54,517		17,362
Cash and cash equivalents and restricted cash	$	181,139	$	166,971	$	482,659
End of period
Cash and cash equivalents	$	94,936	$	100,320	$	112,454
Restricted cash	95,358		80,819		54,517
Cash and cash equivalents and restricted cash	$	190,294	$	181,139	$	166,971

Schedule of Real Estate Properties

Property is recorded at cost and is depreciated using a straight-line method over the estimated useful lives of the assets as follows:


Buildings and improvements			5 - 40 years
Tenant improvements			5 - 7 years
Equipment and furnishings			5 - 7 years

Property, net at December 31, 2023 and 2022 consists of the following:


	2023		2022
Land	$	1,388,345	$	1,425,211
Buildings and improvements	6,171,027		6,378,736
Tenant improvements	747,246		711,007
Equipment and furnishings(1)	188,493		186,767
Construction in progress	340,496		218,859
	8,835,607		8,920,580
Less accumulated depreciation(1)	(2,935,118)		(2,792,790)
	$	5,900,489	$	6,127,790

(1)Equipment and furnishings and accumulated depreciation include the cost and accumulated amortization of ROU assets in connection with finance leases at December 31, 2023 and 2022 (See Note 8—Leases).

Schedule of Range of the Terms of Loan and Lease Agreements

The range of the terms of the agreements is as follows:


Deferred leasing costs			1 - 15 years
Deferred financing costs			1 - 15 years

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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