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Investments in Unconsolidated Real Estate Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2012
Equity Method Investments and Joint Ventures [Abstract] |
Schedule of Equity Method Investments | The following management, development, leasing and marketing fees were recognized from services provided to our unconsolidated joint ventures (in thousands):
|  | Year Ended December 31,
|  | 2012 |  | 2011 |  | 2010
Fees: |  |  |  |  |  |
Development |  | $ | 427 |  |  | $ | — |  |  | $ | — |
Loan guarantee |  | 80 |  |  | — |  |  | — |
Management and leasing |  | 2,102 |  |  | 1,958 |  |  | 1,927 |
Marketing |  | 433 |  |  | 163 |  |  | 154 |
Total Fees |  | $ | 3,042 |  |  | $ | 2,121 |  |  | $ | 2,081 |
At December 31, 2012 and December 31, 2011, we were members of the following unconsolidated real estate joint ventures:
As of December 31, 2012
Joint Venture |  | Center Location |  | Ownership % |  | Square Feet |  | Carrying Value of Investment (in millions) |  | Total Joint Venture Debt (in millions)
Deer Park |  | Deer Park, Long Island NY |  | 33.3 | % |  | 741,981 |  |  | $ | 3.0 |  |  | $ | 246.9 |
Deer Park Warehouse |  | Deer Park, Long Island NY |  | 33.3 | % |  | 29,253 |  |  | — |  |  | 1.9 |
Galveston/Houston |  | Texas City, TX |  | 50.0 | % |  | 352,705 |  |  | 36.7 |  |  | — |
National Harbor |  | Washington D.C. Metro Area |  | 50.0 | % |  | — |  |  | 2.6 |  |  | — |
RioCan Canada |  | Various |  | 50.0 | % |  | 434,562 |  |  | 62.2 |  |  | 20.1 |
Westgate |  | Glendale, AZ |  | 58.0 | % |  | 332,234 |  |  | 19.1 |  |  | 32.0 |
Wisconsin Dells |  | Wisconsin Dells, WI |  | 50.0 | % |  | 265,086 |  |  | 2.8 |  |  | 24.3 |
Other |  |  |  |  |  | — |  |  | 0.2 |  |  | — |
|  |  |  |  |  |  |  | $ | 126.6 |  |  | $ | 325.2 |
As of December 31, 2011
Joint Venture |  | Center Location |  | Ownership % |  | Square Feet |  | Carrying Value of Investment (in millions) |  | Total Joint Venture Debt (in millions)
Deer Park |  | Deer Park, Long Island NY |  | 33.3 | % |  | 656,788 |  |  | $ | 5.4 |  |  | $ | 246.9 |
Deer Park Warehouse |  | Deer Park, Long Island NY |  | 33.3 | % |  | 29,253 |  |  | — |  |  | 2.3 |
Galveston/Houston |  | Texas City, TX |  | 50.0 | % |  | — |  |  | 7.9 |  |  | — |
National Harbor |  | Washington D.C. Metro Area |  | 50.0 | % |  | — |  |  | 0.9 |  |  | — |
RioCan Canada |  | Various |  | 50.0 | % |  | 159,391 |  |  | 10.0 |  |  | 29.7 |
Wisconsin Dells |  | Wisconsin Dells, WI |  | 50.0 | % |  | 265,086 |  |  | 4.0 |  |  | 24.3 |
Other |  |  |  |  |  | — |  |  | 0.3 |  |  | — |
|  |  |  |  |  |  |  | $ | 28.5 |  |  | $ | 303.2 |
Summary Financial Information of Unconsolidated JVs Balance Sheet | Condensed combined summary financial information of joint ventures accounted for using the equity method is as follows (in thousands):
Summary Balance Sheets - Unconsolidated Joint Ventures |  | As of December 31, 2012 |  | As of December 31, 2011
Assets |  |  |  |
Land |  | $ | 110,665 |  |  | $ | 77,864 |
Buildings, improvements and fixtures |  | 493,424 |  |  | 288,934 |
Construction in progress, including land |  | 2,128 |  |  | 23,545 |
|  | 606,217 |  |  | 390,343 |
Accumulated depreciation |  | (62,547 | ) |  | (46,245 | )
Total rental property, net |  | 543,670 |  |  | 344,098 |
Assets held for sale (1) |  | 1,828 |  |  | — |
Cash and cash equivalents |  | 21,879 |  |  | 7,582 |
Deferred lease costs, net |  | 24,411 |  |  | 14,815 |
Deferred debt origination costs, net |  | 5,213 |  |  | 7,566 |
Prepaids and other assets |  | 25,350 |  |  | 11,687 |
Total assets |  | $ | 622,351 |  |  | $ | 385,748 |
Liabilities and Owners' Equity |  |  |  |  |
Mortgages payable |  | $ | 325,192 |  |  | $ | 303,230 |
Construction trade payables |  | 21,734 |  |  | 2,669 |
Accounts payable and other liabilities |  | 31,944 |  |  | 27,246 |
Total liabilities |  | 378,870 |  |  | 333,145 |
Owners' equity |  | 243,481 |  |  | 52,603 |
Total liabilities and owners' equity |  | $ | 622,351 |  |  | $ | 385,748 |
(1) Assets related to our Deer Park Warehouse joint venture, which is currently under contract to be sold.
Summary Financial Information Of Unconsolidated JVs Statements of Operations |
Summary Statements of Operations- Unconsolidated Joint Ventures: |  | Year Ended December 31,
|  | 2012 |  | 2011 |  | 2010
Revenues |  | $ | 54,936 |  |  | $ | 38,847 |  |  | $ | 37,858 |
Expenses: |  |  |  |  |  |
Property operating |  | 24,678 |  |  | 18,034 |  |  | 18,172 |
General and administrative |  | 970 |  |  | 250 |  |  | 455 |
Acquisition costs |  | 1,437 |  |  | — |  |  | — |
Abandoned development costs |  | 1,447 |  |  | — |  |  | — |
Impairment charge (1) |  | 420 |  |  | 900 |  |  | — |
Depreciation and amortization |  | 19,914 |  |  | 14,242 |  |  | 14,245 |
|  | 48,866 |  |  | 33,426 |  |  | 32,872 |
Operating income |  | 6,070 |  |  | 5,421 |  |  | 4,986 |
Interest expense |  | 14,760 |  |  | 10,456 |  |  | 6,947 |
Net loss |  | $ | (8,690 | ) |  | $ | (5,035 | ) |  | $ | (1,961 | )
The Company and Operating Partnership's share of: |  |  |  |  |  |
Net loss |  | $ | (3,295 | ) |  | $ | (1,565 | ) |  | $ | (464 | )
Depreciation and asset impairments (real estate related) (1) |  | 8,245 |  |  | 5,475 |  |  | 5,146 |
(1) The years ended December 31, 2012 and 2011, respectively, includes impairment charges recorded at the Deer Park Warehouse joint venture entity, of which our share is one-third based on our 33.3% ownership percentage. There has been no significant amount of income or expense associated with the activities of this entity in any of the years presented.

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- Definition Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 18 -Paragraph 20 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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