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Acquisitions (Tables) | 9 Months Ended
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Sep. 30, 2014
Business Combinations [Abstract] |
Summary of Acquired Shopping Centers | In the nine-month period ended September 30, 2014, the Company acquired the following shopping centers (in millions):
Location or Transaction |  | Date Acquired |  | Gross Purchase Price |  |  | Face Value of Mortgage Debt Assumed |
Colorado Springs, Colorado |  | April 2014 |  | $ | 29.4 |  |  | $ | 12.9 |
Roseville, California |  | May 2014 |  |  | 89.5 |  |  |  | — |
Cincinnati, Ohio |  | May 2014 |  |  | 29.5 |  |  |  | — |
Chicago, Illinois |  | June 2014 |  |  | 98.0 |  |  |  | 35.5 |
Philadelphia, Pennsylvania |  | August 2014 |  |  | 31.5 |  |  |  | — |
Blackstone II Acquisition |  | September 2014 |  |  | 395.3 |  |  |  | 233.3 |
|  |  |  | $ | 673.2 |  |  | $ | 281.7 |
Schedule of Acquisition Cost of Shopping Centers | The Company accounted for the acquisitions utilizing the purchase method of accounting. The fair value of acquisitions was allocated as follows (in thousands):
|  |  |  |  | Weighted Average Amortization Period (in Years)
Land | $ | 144,587 |  |  | N/A
Buildings |  | 386,889 |  |  | (B)
Tenant improvements |  | 9,205 |  |  | (B)
Construction in progress |  | 76,213 |  |  | N/A
In-place leases (including lease origination costs and fair market value of leases)(A) |  | 58,092 |  |  | 7.2
Tenant relations |  | 34,424 |  |  | 7.6
Other assets |  | 4,402 |  |  | N/A
|  | 713,812 |  |  |
Less: Mortgage debt assumed at fair value |  | (293,288 | ) |  | N/A
Less: Below-market leases |  | (25,017 | ) |  | 19.1
Less: Other liabilities |  | (3,403 | ) |  |
Net assets acquired | $ | 392,104 |  |  |
(A) | Includes above-market value of leases of $8.8 million.
(B) | Depreciated in accordance with the Company’s policy.
Consideration |
Consideration: |  |  |
Cash | $ | 315,329 |
Repayment of preferred equity interest and mezzanine loan |  | 51,775 |
Issuance of OP Units |  | 18,256 |
Gain on Sale and Change in Control of Interests |  | 3,977 |
Fair value of previously held equity interest |  | 2,767 |
Total consideration | $ | 392,104 |
Unaudited Supplemental to Pro Forma Operating Data | The following unaudited supplemental pro forma operating data is presented for the three- and nine-month periods ended September 30, 2014 and 2013, as if the acquisition of the interests in the properties acquired in 2014 and 2013 was completed on January 1, 2013 (in thousands, except per share amounts). The Gain on Change in Control related to the acquisitions from unconsolidated joint ventures was adjusted to the assumed acquisition date. The unaudited supplemental pro forma operating data is not necessarily indicative of what the actual results of operations of the Company would have been assuming the transactions had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods.
| Three-Month Periods Ended September 30, |  |  | Nine-Month Periods Ended September 30, |
| 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Pro forma revenues | $ | 259,611 |  |  | $ | 253,726 |  |  | $ | 777,301 |  |  | $ | 757,434 |
Pro forma (loss) income from continuing operations | $ | (452 | ) |  | $ | (22,938 | ) |  | $ | 41,469 |  |  | $ | (57,111 | )
Pro forma net income (loss) attributable to DDR common shareholders | $ | 56,247 |  |  | $ | (31,045 | ) |  | $ | 95,393 |  |  | $ | (111,551 | )
Basic earnings per share data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to DDR common shareholders | $ | 0.16 |  |  | $ | (0.09 | ) |  | $ | 0.26 |  |  | $ | (0.31 | )
Diluted earnings per share data: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to DDR common shareholders | $ | 0.16 |  |  | $ | (0.09 | ) |  | $ | 0.26 |  |  | $ | (0.31 | )

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