XML 54 R24.htm IDEA: XBRL DOCUMENT
v2.4.0.6

Investments in Unconsolidated Real Estate Joint Ventures (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2013
Investments In Unconsolidated Real Estate Joint Ventures [Abstract] |
Schedule of Equity Method Investments | At March 31, 2013 and December 31, 2012, we were members of the following unconsolidated real estate joint ventures:
As of March 31, 2013
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 |  |  | $ | 2.4 |  |  | $ | 246.9 |
Galveston/Houston |  | Texas City, Texas |  | 50.0 | % |  | 352,705 |  |  | 39.8 |  |  | — |
National Harbor |  | Washington D.C. Metro Area |  | 50.0 | % |  | — |  |  | 2.6 |  |  | — |
RioCan Canada |  | Various |  | 50.0 | % |  | 434,562 |  |  | 66.8 |  |  | 19.5 |
Westgate |  | Glendale, Arizona |  | 58.0 | % |  | 332,234 |  |  | 19.6 |  |  | 38.6 |
Wisconsin Dells |  | Wisconsin Dells, Wisconsin |  | 50.0 | % |  | 265,086 |  |  | 2.6 |  |  | 24.3 |
Other |  |  |  |  |  |  | — |  |  | 0.2 |  |  | — |
|  |  |  |  |  |  |  | $ | 134.0 |  |  | $ | 329.3 |
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 |
Schedule of Management, Leasing, and Marketing Fees Paid By Unconsolidated JVs | The following management, development, leasing and marketing fees were recognized from services provided to our unconsolidated joint ventures (in thousands):
|  | Three months ended March 31,
|  | 2013 |  | 2012
Fee: |  |  |  |
Development |  | $ | 71 |  |  | $ | — |
Loan Guarantee |  | 40 |  |  | — |
Management and leasing |  | 844 |  |  | 479 |
Marketing |  | 110 |  |  | 53 |
Total Fees |  | $ | 1,065 |  |  | $ | 532 |
Summary Financial Information of Unconsolidated JVs Balance Sheet | Condensed combined summary financial information of unconsolidated joint ventures accounted for using the equity method is as follows (in thousands):
Summary Balance Sheets - Unconsolidated Joint Ventures |  | March 31, 2013 |  | December 31, 2012
Assets |  |  |  |  |  |
Land |  | $ | 95,748 |  |  | $ | 96,455 |
Buildings, improvements and fixtures |  | 495,958 |  |  | 493,424 |
Construction in progress, including land |  | 21,974 |  |  | 16,338 |
|  | 613,680 |  |  | 606,217 |
Accumulated depreciation |  | (68,667 | ) |  | (62,547 | )
Total rental property, net |  | 545,013 |  |  | 543,670 |
Assets held for sale (1) |  | — |  |  | 1,828 |
Cash and cash equivalents |  | 20,531 |  |  | 21,879 |
Deferred lease costs, net |  | 23,080 |  |  | 24,411 |
Deferred debt origination costs, net |  | 4,399 |  |  | 5,213 |
Prepaids and other assets |  | 24,900 |  |  | 25,350 |
Total assets |  | $ | 617,923 |  |  | $ | 622,351 |
Liabilities and Owners' Equity |  |  |  |  |  |
Mortgages payable |  | $ | 329,262 |  |  | $ | 325,192 |
Construction trade payables |  | 14,232 |  |  | 21,734 |
Accounts payable and other liabilities |  | 16,726 |  |  | 31,944 |
Total liabilities |  | 360,220 |  |  | 378,870 |
Owners' equity |  | 257,703 |  |  | 243,481 |
Total liabilities and owners' equity |  | $ | 617,923 |  |  | $ | 622,351 |
(1) Assets related to our Deer Park Warehouse joint venture that were sold in March 2013.
Summary Financial Information Of Unconsolidated JVs Statements of Operations |
|  | Three months ended
Summary Statements of Operations |  | March 31,
- Unconsolidated Joint Ventures |  | 2013 |  | 2012
Revenues |  | $ | 21,395 |  |  | $ | 11,658 |
Expenses |  |  |  |  |
Property operating |  | 8,803 |  |  | 4,891 |
General and administrative |  | 485 |  |  | 163 |
Acquisition costs |  | 421 |  |  | 704 |
Abandoned development costs |  | — |  |  | 954 |
Depreciation and amortization |  | 7,384 |  |  | 4,608 |
Total expenses |  | 17,093 |  |  | 11,320 |
Operating income |  | 4,302 |  |  | 338 |
Interest expense |  | 4,052 |  |  | 3,829 |
Net income (loss) |  | $ | 250 |  |  | $ | (3,491 | )
The Company and Operating Partnership's share of:
Net income (loss) |  | $ | 590 |  |  | $ | (1,452 | )
Depreciation and impairment charge (real estate related) |  | $ | 3,173 |  |  | $ | 1,815 |

X
- Details
Name: | skt_InvestmentsInUnconsolidatedRealEstateJointVenturesAbstract
Namespace Prefix: | skt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of Management, Leasing, and Marketing Fees Paid By Unconsolidated JVs [Table Text Block] + References No definition available. + Details
Name: | skt_ScheduleOfManagementLeasingAndMarketingFeesPaidByUnconsolidatedJvsTableTextBlock
Namespace Prefix: | skt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary Financial Information of Unconsolidated JVs Balance Sheet [Table Text Block] + References No definition available. + Details
Name: | skt_SummaryFinancialInformationOfUnconsolidatedJvsBalanceSheetTableTextBlock
Namespace Prefix: | skt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Summary Financial Information of Unconsolidated JVs Statements of Operations [Table Text Block] + References No definition available. + Details
Name: | skt_SummaryFinancialInformationOfUnconsolidatedJvsStatementsOfOperationsTableTextBlock
Namespace Prefix: | skt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration