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Mortgage and Other Indebtedness, Net - Mortgage and Other Indebtedness, net And senior Secured Notes (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Nov. 30, 2024
Dec. 31, 2023
May 31, 2023
Feb. 28, 2023
Debt Instrument [Line Items]          
Mortgage notes payable $ 1,403,798   $ 915,753    
Mortgage and other indebtedness, variable-rate debt 928,106   1,028,213    
Total fixed-rate and variable-rate debt 2,331,904   1,943,966    
Unamortized deferred financing costs (8,688)   (13,221)    
Debt discounts [1] (110,536)   (41,942)    
Total mortgage and other indebtedness, net $ 2,212,680   $ 1,888,803    
Weighted average interest rate (as a percent) [2] 6.07%   7.12%    
Interest rate percentage 7.3975% 5.86%   7.3975% 4.25%
Notional amount of the swap $ 32,000     $ 32,000  
Five Mortgage Notes Payable          
Debt Instrument [Line Items]          
Remaining debt discount amortization period 4 years 8 months 12 days        
Fixed Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2] 5.02%   5.63%    
Variable Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2] 7.67%   8.44%    
Non-Recourse Secured Term Loan          
Debt Instrument [Line Items]          
Mortgage notes payable     $ 799,914    
Mortgage and other indebtedness, variable-rate debt $ 725,495        
Non-Recourse Secured Term Loan | Variable Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2] 7.42%   8.21%    
Non-Recourse Open-Air Centers and Outparcels Loan          
Debt Instrument [Line Items]          
Mortgage notes payable [3] $ 170,031   $ 179,180    
Mortgage and other indebtedness, variable-rate debt [3] $ 170,031   $ 179,180    
Non-Recourse Open-Air Centers and Outparcels Loan | Fixed Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2],[3] 6.95%   6.95%    
Non-Recourse Open-Air Centers and Outparcels Loan | Variable Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2],[3] 8.65%   9.44%    
Non-Recourse Loans on Operating Properties          
Debt Instrument [Line Items]          
Mortgage notes payable $ 1,233,767   $ 736,573    
Non-Recourse Loans on Operating Properties | Fixed Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2] 4.75%   5.30%    
Non-Recourse Loan on an Operating Property          
Debt Instrument [Line Items]          
Mortgage and other indebtedness, variable-rate debt $ 32,580   $ 33,780    
Non-Recourse Loan on an Operating Property | Variable Rate Interest          
Debt Instrument [Line Items]          
Weighted average interest rate (as a percent) [2] 8.05%   8.84%    
Recourse loans on an operating property          
Debt Instrument [Line Items]          
Mortgage and other indebtedness, variable-rate debt $ 0   $ 15,339    
Weighted average interest rate (as a percent) [2] 0.00%   8.24%    
[1] In conjunction with the acquisition of the Company's partner's 50% joint venture interests in CoolSprings Galleria, Oak Park Mall and West County Center and the implementation of fresh start accounting upon emergence from bankruptcy, the Company estimated the fair value of its mortgage notes with the assistance of a third-party valuation advisor. This resulted in recognizing a debt discount, which is accreted over the term of the respective debt using the effective interest method. The remaining debt discounts at December 31, 2024 will be accreted over a weighted average period of 4.7 years.
[2] Weighted-average interest rate excludes amortization of deferred financing costs.
[3] The Operating Partnership has an interest rate swap on a notional amount of $32,000 related to the variable portion of the loan to effectively fix the interest rate at 7.3975%