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Mortgage and Other Indebtedness, Net - Mortgage and Other Indebtedness, net (Details) - USD ($) $ in Thousands | Jun. 30, 2025 | Dec. 31, 2024
--- | --- | ---
Debt Instrument [Line Items] |  |  |
Mortgage notes payable |  | $ 1,374,192 | $ 1,403,798
Mortgage and other indebtedness, variable-rate debt |  | 864,270 | 928,106
Total fixed-rate and variable-rate debt |  | 2,238,462 | 2,331,904
Unamortized deferred financing costs |  | (6,619) | (8,688)
Debt discounts | [1] | (92,067) | (110,536)
Total mortgage and other indebtedness, net |  | $ 2,139,776 | $ 2,212,680
Weighted average interest rate (as a percent) | [2] | 5.95% | 6.07%
Notional amount of the swap |  | $ 32,000 |
Interest rate percentage |  | 7.3975% |
Five Mortgage Notes Payable |  |  |
Debt Instrument [Line Items] |  |  |
Remaining debt discount amortization period |  | 4 years 6 months |
Fixed Rate Interest |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 5.01% | 5.02%
Variable Rate Interest |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 7.43% | 7.67%
Non-Recourse Open-Air Centers and Outparcels Loan |  |  |
Debt Instrument [Line Items] |  |  |
Mortgage and other indebtedness, variable-rate debt | [3] | $ 166,478 | $ 170,031
Total mortgage and other indebtedness, net |  | $ 332,956 |
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] | 8.42% | 8.65%
Non-Recourse Loan on an Operating Property |  |  |
Debt Instrument [Line Items] |  |  |
Mortgage and other indebtedness, variable-rate debt |  | $ 31,980 | $ 32,580
Non-Recourse Loan on an Operating Property | Variable Rate Interest |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 7.30% | 8.05%
Non-Recourse Loans on Operating Properties |  |  |
Debt Instrument [Line Items] |  |  |
Mortgage notes payable |  | $ 1,207,714 | $ 1,233,767
Non-Recourse Loans on Operating Properties | Fixed Rate Interest |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 4.75% | 4.75%
Non-Recourse, Secured Term Loan |  |  |
Debt Instrument [Line Items] |  |  |
Mortgage notes payable |  | $ 665,812 | $ 725,495
Non-Recourse, Secured Term Loan | Variable Rate Interest |  |  |
Debt Instrument [Line Items] |  |  |
Weighted average interest rate (as a percent) | [2] | 7.19% | 7.42%
[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 June 30, 2025 will be accreted over a weighted average period of 4.5 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%. Subsequent to June 30, 2025, the Company completed a modification and extension of the existing loan. See Note 15 for more information.

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