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Business Segments
 6 Months Ended
Jun. 30, 2015
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 2015 presentation.

 
(Dollars in thousands)
 Shopping
Centers
 
Mixed-Use
Properties
 
Corporate
and Other
 
Consolidated
Totals
Three months ended June 30, 2015
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
38,300

 
$
13,398

 
$
13

 
$
51,711

Expenses
(7,954
)
 
(4,532
)
 
—

 
(12,486
)
Income from real estate
30,346

 
8,866

 
13

 
39,225

Interest expense and amortization of deferred debt costs
—

 
—

 
(11,353
)
 
(11,353
)
General and administrative
—

 
—

 
(4,139
)
 
(4,139
)
Subtotal
30,346

 
8,866

 
(15,479
)
 
23,733

Depreciation and amortization of deferred leasing costs
(7,538
)
 
(3,273
)
 
—

 
(10,811
)
Gain on sale of property
11

 
—

 
—

 
11

Net income (loss)
$
22,819

 
$
5,593

 
$
(15,479
)
 
$
12,933

Capital investment
$
2,533

 
$
12,420

 
$
—

 
$
14,953

Total assets
$
934,631

 
$
322,538

 
$
20,874

 
$
1,278,043

 
 
 
 
 
 
 
 
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
)
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

 
 
 
 
 
 
 
 
(Dollars in thousands)
 Shopping
Centers
 
Mixed-Use
Properties
 
Corporate
and Other
 
Consolidated
Totals
Six months ended June 30, 2015
 
 
 
 
 
 
 
Real estate rental operations:
 
 
 
 
 
 
 
Revenue
$
77,664

 
$
26,109

 
$
26

 
$
103,799

Expenses
(17,490
)
 
(8,759
)
 
—

 
(26,249
)
Income from real estate
60,174

 
17,350

 
26

 
77,550

Interest expense and amortization of deferred debt costs
—

 
—

 
(22,759
)
 
(22,759
)
General and administrative
—

 
—

 
(7,910
)
 
(7,910
)
Acquisition related costs
(21
)
 
—

 
—

 
(21
)
Subtotal
60,153

 
17,350

 
(30,643
)
 
46,860

Depreciation and amortization of deferred leasing costs
(14,854
)
 
(6,397
)
 
—

 
(21,251
)
Gain on sale of property
11

 
—

 
—

 
11

Change in fair value of derivatives
—

 
—

 
(6
)
 
(6
)
Net income (loss)
$
45,310

 
$
10,953

 
$
(30,649
)
 
$
25,614

Capital investment
$
5,479

 
$
20,098

 
$
—

 
$
25,577

Total assets
$
934,631

 
$
322,538

 
$
20,874

 
$
1,278,043

 
 
 
 
 
 
 
 
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