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Investments in and Advances to Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2014
Summary of Company's Equity Method Joint Ventures Included in Investments in and Advances | The Company’s equity method joint ventures, which are included in Investments in and Advances to Joint Ventures in the Company’s consolidated balance sheet at December 31, 2014, are as follows:
Unconsolidated Real Estate Ventures |  | Effective Ownership Percentage |  |  | Assets Owned
DDR Domestic Retail Fund I |  |  | 20.0% |  |  | 56 grocery-anchored retail centers in several states
DDR – SAU Retail Fund, LLC |  | 20.0 |  |  | 23 grocery-anchored retail centers in several states
DDRTC Core Retail Fund, LLC |  | 15.0 |  |  | 26 shopping centers in several states
BRE DDR Retail Holdings III |  | 5.0 |  |  | 70 shopping centers in several states
Other Joint Venture Interests |  | 25.25–79.45 |  |  | 13 shopping centers in several states and a management company
Coventry II Fund |  | 20.0 |  |  | Three shopping centers in three states
Investments in and Advances to Joint Ventures | Investments in and Advances to Joint Ventures include the following items, which represent the difference between the Company’s investment and its share of all of the unconsolidated joint ventures’ underlying net assets (in millions):
| December 31, |
| 2014 |  |  | 2013 |
Company's share of accumulated equity | $ | 122.9 |  |  | $ | 365.3 |
Redeemable preferred equity and other(A) |  | 305.3 |  |  |  | 72.2 |
Basis differentials |  | (13.0 | ) |  |  | 10.6 |
Deferred development fees, net of portion related to the Company's interest |  | (2.5 | ) |  |  | (2.8 | )
Amounts payable to DDR |  | 2.1 |  |  |  | 2.7 |
Investments in and Advances to Joint Ventures | $ | 414.8 |  |  | $ | 448.0 |
(A) | Primarily related to $305.3 million and $71.8 million in preferred equity investments in joint ventures with an affiliate of The Blackstone Group L.P. (collectively “Blackstone”), at December 31, 2014 and 2013, respectively.
Schedule of Business Acquisitions | In 2014 and 2013, 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, CO |  | April 2014 |  | $ | 29.4 |  |  | $ | 12.9 |
Roseville, CA |  | May 2014 |  |  | 89.5 |  |  |  | — |
Cincinnati, OH |  | May 2014 |  |  | 29.5 |  |  |  | — |
Chicago, IL |  | June 2014 |  |  | 98.0 |  |  |  | 35.5 |
Philadelphia, PA |  | August 2014 |  |  | 31.5 |  |  |  | — |
Blackstone II Acquisition (seven assets)(A) |  | September 2014 |  |  | 395.3 |  |  |  | 233.3 |
Erie, PA(A) |  | December 2014 |  |  | 15.6 |  |  |  | — |
Oakland, CA |  | February 2013 |  |  | 41.1 |  |  |  | — |
Dallas, TX |  | March 2013 |  |  | 40.3 |  |  |  | — |
Tampa, FL; Atlanta, GA; Newport News, VA and Richmond, VA (two assets)(A) |  | April 2013 |  |  | 110.5 |  |  |  | — |
Parcels adjacent to existing shopping centers |  | June 2013 |  |  | 11.7 |  |  |  | — |
Orlando, FL and Atlanta, GA |  | July 2013 |  |  | 258.5 |  |  |  | 139.4 |
Blackstone I Acquisition (30 assets)(A) |  | October 2013 |  |  | 1,548.4 |  |  |  | 792.9 |
(A) | Acquired from various unconsolidated joint ventures in separate transactions. See description of Blackstone Acquisitions below. Due to the change in control that occurred, the Company recorded an aggregate Gain on Change in Control of $4.3 million and $19.9 million for the years ended December 31, 2014 and 2013, respectively, associated with these acquisitions related to the difference between the Company’s carrying value and fair value of its previously held equity interest on the respective acquisition date.
BRE DDR Retail Holdings Joint Venture Acquisitions [Member] |
Schedule of Business Acquisitions | The joint ventures were completed on similar terms as follows:
Terms |  | BRE DDR Retail Holdings II |  |  | BRE DDR Retail Holdings III |
Date acquired |  | August 2013 |  |  | October 2014 |
Number of centers |  |  | 7 |  |  |  | 70 |
Gross leasable area ("GLA")(A) |  | 2.3 million |  |  | 11.4 million |
DDR common equity interest (5%) |  | $3.5 million |  |  | $19.6 million |
DDR preferred equity interest |  | $30.0 million |  |  | $300.0 million |
Preferred equity fixed dividend rate per annum |  |  | 9.0% |  |  |  | 8.5% |
Transaction value at 100% |  | $332.0 million |  |  | $1.93 billion |
Maximum preferred equity fixed distribution deferral |  |  | 22.2% |  |  |  | 23.5% |
Fixed distribution rate per annum for any deferred and unpaid preferred equity distributions |  |  | 9.0% |  |  |  | 8.5% |
Mortgage debt assumed at 100% |  | $206.6 million |  |  | $436.8 million |
New mortgage financings at 100% |  | $28.0 million |  |  | $800.0 million |
(A) | All references to GLA or square feet are unaudited.
Unconsolidated Joint Ventures [Member] |
Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments | Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):
| December 31, |
| 2014 |  |  | 2013 |
Condensed Combined Balance Sheets |  |  |  |  |  |  |
Land | $ | 1,439,849 |  |  | $ | 1,275,232 |
Buildings |  | 3,854,585 |  |  |  | 3,940,806 |
Fixtures and tenant improvements |  | 200,696 |  |  |  | 266,851 |
|  | 5,495,130 |  |  |  | 5,482,889 |
Less: Accumulated depreciation |  | (773,256 | ) |  |  | (839,867 | )
|  | 4,721,874 |  |  |  | 4,643,022 |
Land held for development and construction in progress |  | 55,698 |  |  |  | 116,088 |
Real estate, net |  | 4,777,572 |  |  |  | 4,759,110 |
Cash and restricted cash |  | 100,812 |  |  |  | 282,866 |
Receivables, net |  | 80,508 |  |  |  | 101,003 |
Other assets |  | 394,751 |  |  |  | 196,615 |
| $ | 5,353,643 |  |  | $ | 5,339,594 |
Mortgage debt | $ | 3,552,764 |  |  | $ | 3,282,643 |
Notes and accrued interest payable to DDR(A) |  | 144,831 |  |  |  | 127,679 |
Other liabilities |  | 276,998 |  |  |  | 245,368 |
|  | 3,974,593 |  |  |  | 3,655,690 |
Redeemable preferred equity |  | 305,310 |  |  |  | 71,771 |
Accumulated equity |  | 1,073,740 |  |  |  | 1,612,133 |
| $ | 5,353,643 |  |  | $ | 5,339,594 |
Company's share of Accumulated Equity | $ | 122,937 |  |  | $ | 365,297 |
(A) | The Company had net amounts receivable from several joint ventures aggregating $2.1 million and $2.7 million at December 31, 2014 and 2013, respectively, which were included in Investments in and Advances to Joint Ventures on the consolidated balance sheets.
Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments |
| For the Year Ended December 31, |
| 2014 |  |  | 2013 |  |  | 2012 |
Condensed Combined Statements of Operations |  |  |  |  |  |  |  |  |  |  |
Revenues from operations | $ | 485,764 |  |  | $ | 635,933 |  |  | $ | 622,771 |
Expenses from operations: |  |  |  |  |  |  |  |  |  |  |
Operating expenses |  | 167,691 |  |  |  | 210,829 |  |  |  | 200,662 |
Impairment charges(A) |  | 21,583 |  |  |  | 43,913 |  |  |  | 840 |
Depreciation and amortization |  | 151,651 |  |  |  | 201,021 |  |  |  | 175,225 |
Interest expense |  | 171,803 |  |  |  | 204,893 |  |  |  | 203,205 |
Other (income) expense, net |  | 18,249 |  |  |  | 2,298 |  |  |  | 10,435 |
|  | 530,977 |  |  |  | 662,954 |  |  |  | 590,367 |
(Loss) income before tax expense and discontinued operations |  | (45,213 | ) |  |  | (27,021 | ) |  |  | 32,404 |
Income tax expense (primarily Sonae Sierra Brasil), net |  | (6,565 | ) |  |  | (27,553 | ) |  |  | (25,444 | )
(Loss) income from continuing operations |  | (51,778 | ) |  |  | (54,574 | ) |  |  | 6,960 |
Discontinued operations: |  |  |  |  |  |  |  |  |  |  |
Loss from discontinued operations(B) |  | (13,955 | ) |  |  | (65,951 | ) |  |  | (79,705 | )
Gain (loss) on disposition of real estate, net of tax(C) |  | 55,020 |  |  |  | (19,190 | ) |  |  | 11,739 |
Loss before gain on disposition of real estate, net |  | (10,713 | ) |  |  | (139,715 | ) |  |  | (61,006 | )
Gain on disposition of real estate, net |  | 10,116 |  |  |  | 794 |  |  |  | 54,582 |
Net loss | $ | (597 | ) |  | $ | (138,921 | ) |  | $ | (6,424 | )
Income attributable to non-controlling interests |  | (2,022 | ) |  |  | (26,005 | ) |  |  | (42,995 | )
Net loss attributable to unconsolidated joint ventures | $ | (2,619 | ) |  | $ | (164,926 | ) |  | $ | (49,419 | )
Company's share of equity in net income of joint ventures(D) | $ | 9,218 |  |  | $ | 3,314 |  |  | $ | 33,512 |
Basis differential adjustments(E) |  | 1,771 |  |  |  | 3,505 |  |  |  | 1,738 |
Equity in net income of joint ventures(D) | $ | 10,989 |  |  | $ | 6,819 |  |  | $ | 35,250 |
(A) | For the years ended December 31, 2014, 2013 and 2012, the Company’s proportionate share was $4.4 million, $6.6 million and $0.4 million, respectively.
(B) | For the years ended December 31, 2014, 2013 and 2012, impairment charges included in discontinued operations related to asset sales were $11.1 million, $49.3 million and $56.3 million, respectively, of which the Company’s proportionate share was $0.8 million, $4.0 million and $0.7 million for the years ended December 31, 2014, 2013 and 2012, respectively. The Company’s share of the impairment charges was reduced by the impact of the other than temporary impairment charges recorded on these investments, as appropriate, as discussed below.
(C) | For the year ended December 31, 2013, the loss primarily was attributable to an investment in the Coventry II Fund in which the Company had a 20% interest. The joint venture recorded a loss of $32.6 million on the transfer of its ownership of one of its properties to the lender. The Company’s share of the loss was zero as the Company had previously written off its investment in this operating property.
(D) | The Company is not recording income or loss from those investments in which its investment basis is zero as the Company does not have the intent or obligation to fund any additional capital in the joint ventures.
(E) | The difference between the Company’s share of net income, as reported above, and the amounts included in the consolidated statements of operations is attributable to the amortization of basis differentials, the recognition of deferred gains and differences in gain (loss) on sale of certain assets recognized due to the basis differentials and other than temporary impairment charges.
Service Fees and Income Earned by Company's Unconsolidated Joint Ventures | Service fees and income earned by the Company through management, financing, leasing and development activities performed related to all of the Company’s unconsolidated joint ventures are as follows (in millions):
| For the Year Ended December 31, |
| 2014 |  |  | 2013 |  |  | 2012 |
Management and other fees | $ | 24.9 |  |  | $ | 29.3 |  |  | $ | 28.6 |
Development fees and leasing commissions |  | 6.4 |  |  |  | 10.0 |  |  |  | 8.7 |
Interest income |  | 11.0 |  |  |  | 16.1 |  |  |  | 9.7 |

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