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Property, net (Tables) | 6 Months Ended
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Jun. 30, 2025
Property, Plant and Equipment [Abstract] |
Schedule of Components of Property, Net | Property, net consists of the following:
| June 30, 2025 |  | December 31, 2024
Land | $ | 1,690,612 |  |  | $ | 1,713,296 |
Buildings and improvements | 6,692,565 |  |  | 6,608,217 |
Tenant improvements | 677,761 |  |  | 617,007 |
Equipment and furnishings(1) | 167,949 |  |  | 170,570 |
Construction in progress | 354,800 |  |  | 335,890 |
| 9,583,687 |  |  | 9,444,980 |
Less accumulated depreciation(1) | (2,418,324) |  |  | (2,347,867) |
| $ | 7,165,363 |  |  | $ | 7,097,113 |
(1) Equipment and furnishings and accumulated depreciation include the cost and accumulated amortization of ROU assets in connection with finance leases at December 31, 2024 (See Note 8—Leases). The Company's finance leases matured during the three months ended March 31, 2025.
Schedule of Gain (Loss) on Sale or Write-Down of Assets | Loss) gain on sale or write-down of assets, net for the three and six months ended June 30, 2025 and 2024 consist of the following:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Gain on property sales, net(1) |  | $ | 2,581 |  |  | $ | 337,405 |  |  | $ | 1,033 |  |  | $ | 337,405 |
Loss on write-down of assets(2) |  | (13,222) |  |  | (12,698) |  |  | (26,585) |  |  | (48,783) |
Gain on land sales, net(3) |  | 157 |  |  | 289 |  |  | 1,080 |  |  | 289 |
|  | $ | (10,484) |  |  | $ | 324,996 |  |  | $ | (24,472) |  |  | $ | 288,911 |
(1) Includes a gain of $334,285 for the three and six months ended June 30, 2024, as a result of the Company no longer recognizing its investment in Chandler Fashion Center as a financing arrangement. Effective June 13, 2024, the Company accounts for its investment under the equity method of accounting (See Note 12—Financing Arrangement and Note 16—Dispositions). For the three and six months ended June 30, 2025, includes gains related to the sale of 1010-1016 Market Street parcels and a former department store parcel located in Petaluma, California offset in part by losses related to the sale of Wilton Mall and the Company's partnership's interest in Paradise Valley Mall (See Note 4—Investments in Unconsolidated Joint Ventures and Note 16—Dispositions). (2) Includes impairment losses of $12,942 and $26,285 for the three and six months ended June 30, 2025, respectively, due to the reduction of the estimated holding periods of certain properties, including SouthPark Mall and Valley Mall. Includes impairment losses of $12,692 and $48,679 for the three and six months ended June 30, 2024, due to the reduction of the estimated holding periods of certain properties, including Santa Monica Place (See Note 10—Mortgage Notes Payable). (3) See Note 16—Dispositions.
Schedule of Assets Measured on a Nonrecurring Basis | The following table summarizes certain of the Company's assets that were measured on a nonrecurring basis as a result of the impairment losses recorded for the three and six months ended June 30, 2025 and 2024, as described above:
|  | Total Fair Value Measurement |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Unobservable Inputs |  | Significant Unobservable Inputs
|  | (Level 1) |  | (Level 2) |  | (Level 3)
June 30, 2024 |  | $ | 314,010 |  |  | $ | — |  |  | $ | — |  |  | $ | 314,010 |
June 30, 2025 |  | $ | 22,000 |  |  | $ | — |  |  | $ | 22,000 |  |  | $ | — |

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- Definition Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.CC) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480091/360-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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