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Subsequent Events | 9 Months Ended
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Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events As noted in Note 12, the Company owned a parcel of land in Lee's Summit, MO that it ground leased to a third party development company that developed and operates a shopping center on the land parcel. The Company had guaranteed 27% of the third party’s loans of which the maximum guaranteed amount, representing 27% of capacity, was approximately $14,931. In November 2013, the Company sold the land parcel to the third party development company for $22,430. The Company received $15,000 in cash and a promissory note of $7,430 from the third party development company's parent. The note receivable bears interest of 5% and fully amortizes through its maturity date in November 2023. In conjunction with the land sale, the Company's ground lease with the third party development company terminated and the Company was released from its 27% guaranty. In November 2013, the construction and land loans on West Melbourne were extended to December 2013. In October 2013, the guarantees of the debt encumbering West Melbourne and Port Orange were each reduced from 100% to 25%. In October 2013, Atlanta Outlet Shoppes, LLC closed on an $80,000 ten-year non-recourse mortgage loan secured by The Outlet Shoppes at Atlanta. The loan bears interest at a fixed rate of 4.9%. Proceeds from the loan were used to repay a $53,080 recourse construction loan. The construction loan had a principal balance of $49,641 as of September 30, 2013. The Company's share of the remaining excess proceeds were used to reduce outstanding balances on the Company's credit facilities. The Company has evaluated subsequent events through the date of issuance of these financial statements.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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