XML 42 R25.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Subsequent Events | 9 Months Ended
--- | ---
Sep. 30, 2013
Subsequent Events [Abstract] |
Subsequent Events | 17. SUBSEQUENT EVENTS In October 2013, the Company acquired sole ownership of a portfolio of 30 prime power centers that were previously owned by BRE DDR Retail Holdings I, the Company’s joint venture with an affiliate of Blackstone. The transaction was valued at approximately $1.46 billion ($1.54 billion at 100%). The transaction included a cash payment of $566.4 million to an affiliate of Blackstone, of which $25.0 million was funded in the second quarter of 2013 and is recorded in Other Assets on the condensed consolidated balance sheet as of September 30, 2013. Furthermore, in connection with the closing of the Blackstone Acquisition, the Company assumed an affiliate of Blackstone’s 95% share of $792.9 million of mortgage debt, of which $139.0 million was repaid upon closing. In addition, $148.8 million of the preferred equity interest and mezzanine loan previously funded by the Company was repaid upon the closing of the Blackstone Acquisition. The Company will account for this transaction as a step acquisition. Due to the change in control that occurred, the Company expects to record a Gain on Change in Control of Interest related to the difference between the Company’s carrying value and fair value of the previously held equity interest. The Company funded the cash portion of the consideration received by an affiliate of Blackstone, and the repayment of certain of the BRE DDR Retail Holdings I’s debt, with a portion of the net proceeds of its issuance and sale of 3.375% Notes due 2023 and its issuance and sale of 39.1 million of its common shares in a forward equity offering (Note 10).

X
- Details
Name: | us-gaap_SubsequentEventsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SubsequentEventsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration