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Mortgage and Other Indebtedness (Tables) | 12 Months Ended
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Dec. 31, 2012
Debt Disclosure [Abstract] |
Schedule of mortgage and other indebtedness | Mortgage and other indebtedness consisted of the following:
| December 31, 2012 |  | December 31, 2011
| Amount |  | Weighted Average Interest Rate (1) |  | Amount |  | Weighted Average Interest Rate (1)
Fixed-rate debt: |  |  |  |  |  |  |
Non-recourse loans on operating properties (2) | $ | 3,776,245 |  |  | 5.43 | % |  | $ | 3,637,979 |  |  | 5.55 | %
Recourse term loans on operating properties | — |  |  | — | % |  | 77,112 |  |  | 5.89 | %
Financing method obligation (3) | 18,264 |  |  |  |  | 18,264 |  |  |
Total fixed-rate debt | 3,794,509 |  |  | 5.43 | % |  | 3,733,355 |  |  | 5.54 | %
Variable-rate debt: |  |  |  |  |  |  |  |  |  |  |
Non-recourse term loans on operating properties | 123,875 |  |  | 3.36 | % |  | 168,750 |  |  | 3.03 | %
Recourse term loans on operating properties | 97,682 |  |  | 1.78 | % |  | 124,439 |  |  | 2.29 | %
Construction loans | 15,366 |  |  | 2.96 | % |  | 25,921 |  |  | 3.25 | %
Unsecured lines of credit (4) | 475,626 |  |  | 2.07 | % |  | — |  |  | — | %
Secured lines of credit | 10,625 |  |  | 2.46 | % |  | 27,300 |  |  | 3.03 | %
Unsecured term loans | 228,000 |  |  | 1.82 | % |  | 409,590 |  |  | 1.67 | %
Total variable-rate debt | 951,174 |  |  | 2.20 | % |  | 756,000 |  |  | 2.18 | %
Total | $ | 4,745,683 |  |  | 4.79 | % |  | $ | 4,489,355 |  |  | 4.99 | %
(1) | Weighted-average interest rate includes the effect of debt premiums (discounts), but excludes amortization of deferred financing costs.
(2) | The Company had four interest rate swaps on notional amounts totaling $113,885 as of December 31, 2012 and $117,700 as of December 31, 2011 related to its variable-rate loans on operating Properties to effectively fix the interest rates on the respective loans. Therefore, these amounts are reflected in fixed-rate debt at December 31, 2012 and 2011.
(3) | This amount represents the noncontrolling partner's equity contribution related to Pearland Town Center that is accounted for as a financing due to certain terms of the CBL/T-C joint venture agreement. See Note 5 for further information.
(4) | The Company converted two of its credit facilities from secured facilities to unsecured facilities in November 2012.
Schedule of covenant compliance | The following presents the Company's compliance with key unsecured debt covenant compliance ratios as of December 31, 2012:
Ratio |  | Required |  | Actual
Debt to total asset value |  | < 60% |  | 52.6%
Ratio of unencumbered asset value to unsecured indebtedness |  | > 1.60x |  | 3.13x
Ratio of unencumbered NOI to unsecured interest expense |  | > 1.75x |  | 11.41x
Ratio of EBITDA to fixed charges (debt service) |  | > 1.50x |  | 2.00x
Schedule of principal repayments | As of December 31, 2012, the scheduled principal amortization and balloon payments of the Company’s consolidated debt, excluding extensions available at the Company’s option, on all mortgage and other indebtedness, including construction loans and lines of credit, are as follows:
2013 | $ | 503,171 |
2014 | 714,874 |
2015 | 559,012 |
2016 | 779,514 |
2017 | 552,682 |
Thereafter | 1,623,600 |
| 4,732,853 |
Net unamortized premiums | 12,830 |
| $ | 4,745,683 |
Schedule of interest rate derivatives designated as cash flow hedges of interest rate risk | As of December 31, 2012, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
Interest Rate Derivative |  | Number of Instruments |  | Notional Amount
Interest Rate Cap |  | 1 |  |  | $ | 123,875 |
Interest Rate Swaps |  | 4 |  |  | $ | 113,885 |
Schedule of pay fixed/receive variable swap | The following tables provide further information relating to the Company’s interest rate derivatives that were designated as cash flow hedges of interest rate risk as of December 31, 2012 and 2011:
Instrument Type |  | Location in Consolidated Balance Sheet |  | Notional Amount |  | Designated Benchmark Interest Rate |  | Strike Rate |  | Fair Value at 12/31/12 |  | Fair Value at 12/31/11 |  | Maturity Date
Cap |  | Intangible lease assets and other assets |  | $ 123,875 (amortizing to $122,375) |  | 3-month LIBOR |  | 5.000 | % |  | $ | — |  |  | $ | — |  |  | Jan 2014
Pay fixed/ Receive variable Swap |  | Accounts payable and accrued liabilities |  | $ 55,057 (amortizing to $48,337) |  | 1-month LIBOR |  | 2.149 | % |  | $ | (2,775 | ) |  | $ | (2,674 | ) |  | Apr 2016
Pay fixed/ Receive variable Swap |  | Accounts payable and accrued liabilities |  | $ 34,469 (amortizing to $30,276) |  | 1-month LIBOR |  | 2.187 | % |  | (1,776 | ) |  | (1,725 | ) |  | Apr 2016
Pay fixed/ Receive variable Swap |  | Accounts payable and accrued liabilities |  | $ 12,887 (amortizing to $11,313) |  | 1-month LIBOR |  | 2.142 | % |  | (647 | ) |  | (622 | ) |  | Apr 2016
Pay fixed/ Receive variable Swap |  | Accounts payable and accrued liabilities |  | $ 11,472 (amortizing to $10,083) |  | 1-month LIBOR |  | 2.236 | % |  | (607 | ) |  | (596 | ) |  | Apr 2016
|  |  |  |  |  |  |  |  |  | $ | (5,805 | ) |  | $ | (5,617 | ) |  |
Schedule of gain (loss) recognized in other comprehensive income (loss) |
Hedging Instrument |  | Gain (Loss) Recognized in OCI/L (Effective Portion) |  | Location of Losses Reclassified from AOCI/L into Earnings (Effective Portion) |  | Loss Recognized in Earnings (Effective Portion) |  | Location of Gain (Loss) Recognized in Earnings (Ineffective Portion) |  | Gain Recognized in Earnings (Ineffective Portion)
| 2012 | 2011 | 2010 |  |  | 2012 | 2011 | 2010 |  |  | 2012 | 2011 | 2010
Interest rate contracts |  | $ | (207 | ) | $ | (5,521 | ) | $ | 2,742 |  |  | Interest Expense |  | $ | (2,267 | ) | $ | (1,904 | ) | $ | (2,883 | ) |  | Interest Expense |  | $ | — |  | $ | — |  | $ | 23 |

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