XML 60 R50.htm IDEA: XBRL DOCUMENT v3.25.2
Investments in Unconsolidated Joint Ventures - Narrative (Details)
ft² in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
USD ($)
May 28, 2025
USD ($)
Mar. 28, 2025
USD ($)
Mar. 27, 2025
USD ($)
Feb. 07, 2025
USD ($)
Oct. 24, 2024
USD ($)
Jul. 31, 2024
USD ($)
ft²
Jun. 28, 2024
USD ($)
Jun. 27, 2024
USD ($)
May 14, 2024
USD ($)
Jan. 10, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Nov. 16, 2023
Schedule of Equity Method Investments                                    
Ownership percentage (as a percent)                                   49.90%
Impairment loss                       $ 13,222,000 $ 12,698,000   $ 26,585,000 $ 48,783,000    
Mortgage notes payable $ 5,229,832,000                     5,229,832,000     5,229,832,000   $ 4,894,525,000  
Proceeds from sale of assets                             90,441,000 12,872,000    
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]         Secured Overnight Financing Rate (SOFR) [Member]                          
Joint Venture                                    
Schedule of Equity Method Investments                                    
Impairment loss                         $ 53,690,000     $ 111,376,000    
Mortgage notes payable $ 3,221,712,000                     $ 3,221,712,000     $ 3,221,712,000   $ 3,461,032,000  
Joint Venture | Arrowhead Towne Center                                    
Schedule of Equity Method Investments                                    
Ownership percentage at completion of acquisition (as a percent)                   100.00%                
Joint Venture | Third Party | Arrowhead Towne Center                                    
Schedule of Equity Method Investments                                    
Purchase price                   $ 36,447,000                
Propcor II Associates, LLC Boulevard Shops | Joint Venture                                    
Schedule of Equity Method Investments                                    
Repayments of debt                     $ 23,000,000              
Debt issued                     $ 24,000,000              
Variable interest rate spread (as a percent)                     2.50%              
Interest rate cap (as a percent)                     7.50%              
Development of Premium Outlets in Los Angeles                                    
Schedule of Equity Method Investments                                    
Impairment loss                           $ 57,686,000        
Development of Premium Outlets in Los Angeles | Joint Venture                                    
Schedule of Equity Method Investments                                    
Ownership percentage (as a percent)                                 50.00%  
Chandler Fashion Center | Joint Venture                                    
Schedule of Equity Method Investments                                    
Repayments of debt                 $ 256,000,000                  
Debt issued                 17,700,000                  
Face amount on debt                 $ 275,000,000                  
Interest rate on debt (as a percent)                 7.06%                  
Country Club Plaza                                    
Schedule of Equity Method Investments                                    
Debt extinguished               $ 147,735,000                    
Country Club Plaza | Joint Venture                                    
Schedule of Equity Method Investments                                    
Proceeds from sale of building               175,600,000                    
Debt extinguished               $ 295,470,000                    
Biltmore Fashion Park Retail Center in Phoenix, Arizona | Sold                                    
Schedule of Equity Method Investments                                    
Interest percentage sold             50.00%                      
Property area (in square feet) | ft²             611                      
Proceeds from sale             $ 110,000,000                      
Gain (loss) on sale or write down of assets, net             $ 42,815,000                      
Lakewood Center, Los Cerritos Center and Washington Square Retail Center In Phoenix, Arizona | Sold                                    
Schedule of Equity Method Investments                                    
Impairment loss           $ 117,031,000                        
Ownership percentage (as a percent)           40.00%                        
Purchase price           $ 122,132,000                        
Ownership percentage at completion of acquisition (as a percent)           100.00%                        
FlatIron Crossing                                    
Schedule of Equity Method Investments                                    
Variable interest rate spread (as a percent)         2.90%                          
FlatIron Crossing | Mezzanine Loan                                    
Schedule of Equity Method Investments                                    
Variable interest rate spread (as a percent)         12.25%                          
Extension term (in years)         90 days                          
FlatIron Crossing | First Mortgage                                    
Schedule of Equity Method Investments                                    
Repayments of debt     $ 71,644,000 $ 71,644,000 $ 14,532,000                          
Variable interest rate spread (as a percent)         2.90%                          
Mortgage notes payable         $ 140,479,000                          
FlatIron Crossing | First Mortgage | Weighted Average                                    
Schedule of Equity Method Investments                                    
Variable interest rate spread (as a percent)         3.70%                          
FlatIron Crossing | Joint Venture | Mezzanine Loan                                    
Schedule of Equity Method Investments                                    
Repayments of debt     $ 140,479,000   $ 14,532,000                          
Paradise Valley Mall in Phoenix, Arizona | Sold                                    
Schedule of Equity Method Investments                                    
Percentage of joint venture sold 5.00%                     5.00%     5.00%      
Proceeds from sale of assets $ 5,532,000 $ 6,200,000                                
Loss on sale of assets $ (1,157,000) $ (643,000)