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Business Segments
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Business Segments
Business Segments
The Company has two reportable business segments: Shopping Centers and Mixed-Use Properties. The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2). The Company evaluates performance based upon income and cash flows from real estate of the combined properties in each segment. All of our properties within each segment generate similar types of revenues and expenses related to tenant rent, reimbursements and operating expenses. Although services are provided to a range of tenants, the types of services provided to them are similar within each segment. The properties in each portfolio have similar economic characteristics and the nature of the products and services provided to our tenants and the method to distribute such services are consistent throughout the portfolio. Certain reclassifications have been made to prior year information to conform to the 2014 presentation.

 
(Dollars in thousands)
 Shopping
Centers
 
Mixed-Use
Properties
 
Corporate
and Other
 
Consolidated
Totals
Three months ended June 30, 2014
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
39,056

 
$
13,210

 
$
20

 
$
52,286

Expenses
(8,002
)
 
(3,827
)
 
—

 
(11,829
)
Income from real estate
31,054

 
9,383

 
20

 
40,457

Interest expense and amortization of deferred debt costs
—

 
—

 
(11,486
)
 
(11,486
)
General and administrative
—

 
—

 
(4,023
)
 
(4,023
)
Acquisition related costs
(216
)
 
—

 
—

 
(216
)
Predevelopment expenses
—

 
—

 
—

 
—

Subtotal
30,838

 
9,383

 
(15,489
)
 
24,732

Depreciation and amortization of deferred leasing costs
(6,911
)
 
(3,398
)
 
—

 
(10,309
)
Gain on sale of property
6,069

 
—

 
—

 
6,069

Change in fair value of derivatives
—

 
—

 
(5
)
 
(5
)
Net income (loss)
$
29,996

 
$
5,985

 
$
(15,494
)
 
$
20,487

Capital investment
$
13,592

 
$
4,865

 
$
—

 
$
18,457

Total assets
$
906,399

 
$
297,009

 
$
24,020

 
$
1,227,428

 
 
 
 
 
 
 
 
Three months ended June 30, 2013
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
35,749

 
$
13,047

 
$
13

 
$
48,809

Expenses
(7,222
)
 
(4,537
)
 
—

 
(11,759
)
Income from real estate
28,527

 
8,510

 
13

 
37,050

Interest expense and amortization of deferred debt costs
—

 
—

 
(11,709
)
 
(11,709
)
General and administrative
—

 
—

 
(3,925
)
 
(3,925
)
Predevelopment expenses
—

 
(1,233
)
 
—

 
(1,233
)
Subtotal
28,527

 
7,277

 
(15,621
)
 
20,183

Depreciation and amortization of deferred leasing costs
(6,913
)
 
(5,559
)
 
—

 
(12,472
)
Change in fair value of derivatives
—

 
—

 
51

 
51

Net income (loss)
$
21,614

 
$
1,718

 
$
(15,570
)
 
$
7,762

Capital investment
$
2,305

 
$
4,007

 
$
—

 
$
6,312

Total assets
$
885,816

 
$
292,048

 
$
13,746

 
$
1,191,610

 
 
 
 
 
 
 
 
(Dollars in thousands)
 Shopping
Centers
 
Mixed-Use
Properties
 
Corporate
and Other
 
Consolidated
Totals
Six months ended June 30, 2014
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
78,875

 
$
26,323

 
$
35

 
$
105,233

Expenses
(17,492
)
 
(7,578
)
 
—

 
(25,070
)
Income from real estate
61,383

 
18,745

 
35

 
80,163

Interest expense and amortization of deferred debt costs
—

 
—

 
(22,953
)
 
(22,953
)
General and administrative
—

 
—

 
(8,703
)
 
(8,703
)
Acquisition related costs
(379
)
 
—

 
—

 
(379
)
Predevelopment expenses
—

 
(503
)
 
—

 
(503
)
Subtotal
61,004

 
18,242

 
(31,621
)
 
47,625

Depreciation and amortization of deferred leasing costs
(13,808
)
 
(6,681
)
 
—

 
(20,489
)
Gain on sale of property
6,069

 
—

 
—

 
6,069

Change in fair value of derivatives
—

 
—

 
(7
)
 
(7
)
Net income (loss)
$
53,265

 
$
11,561

 
$
(31,628
)
 
$
33,198

Capital investment
$
24,324

 
$
8,021

 
$
—

 
$
32,345

Total assets
$
906,399

 
$
297,009

 
$
24,020

 
$
1,227,428

 
 
 
 
 
 
 
 
Six months ended June 30, 2013
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
71,796

 
$
26,155

 
$
44

 
$
97,995

Expenses
(14,977
)
 
(8,758
)
 
—

 
(23,735
)
Income from real estate
56,819

 
17,397

 
44

 
74,260

Interest expense and amortization of deferred debt costs
—

 
—

 
(23,426
)
 
(23,426
)
General and administrative
—

 
—

 
(7,329
)
 
(7,329
)
Predevelopment expenses
—

 
(3,582
)
 
—

 
(3,582
)
Subtotal
56,819

 
13,815

 
(30,711
)
 
39,923

Depreciation and amortization of deferred leasing costs
(13,742
)
 
(15,082
)
 
—

 
(28,824
)
Change in fair value of derivatives
—

 
—

 
61

 
61

Net income (loss)
$
43,077

 
$
(1,267
)
 
$
(30,650
)
 
$
11,160

Capital investment
$
5,804

 
$
5,572

 
$
—

 
$
11,376

Total assets
$
885,816

 
$
292,048

 
$
13,746

 
$
1,191,610