Investments in and Advances to Joint Ventures (Tables) (Unconsolidated Joint Ventures [Member])

3 Months Ended

Mar. 31, 2015

Unconsolidated Joint Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Condensed Combined Financial Information of Company's Unconsolidated Joint Venture Investments

At March 31, 2015 and December 31, 2014, the Company had ownership interests in various unconsolidated joint ventures that had an investment in 187 and 188 shopping center properties, respectively. Condensed combined financial information of the Company’s unconsolidated joint venture investments is as follows (in thousands):

	March 31, 2015			December 31, 2014
Condensed Combined Balance Sheets
Land	$	1,359,918		$	1,439,849
Buildings		3,589,210			3,854,585
Fixtures and tenant improvements		180,389			200,696
		5,129,517			5,495,130
Less: Accumulated depreciation		(736,867	)		(773,256	)
		4,392,650			4,721,874
Land held for development and construction in progress		53,597			55,698
Real estate, net		4,446,247			4,777,572
Cash and restricted cash		82,012			100,812
Receivables, net		47,767			80,508
Other assets		373,758			394,751
	$	4,949,784		$	5,353,643

Mortgage debt	$	3,282,124		$	3,552,764
Notes and accrued interest payable to the Company		3,077			144,831
Other liabilities		202,378			276,998
		3,487,579			3,974,593
Redeemable preferred equity		307,563			305,310
Accumulated equity		1,154,642			1,073,740
	$	4,949,784		$	5,353,643

Company's share of accumulated equity	$	139,275		$	122,937
Redeemable preferred equity		307,563			305,310
Basis differentials		(37,122	)		(12,954	)
Deferred development fees, net of portion related to the Company's interest		(2,453	)		(2,562	)
Amounts payable to the Company		3,077			2,117
Investments in and Advances to Joint Ventures	$	410,340		$	414,848

Condensed Combined Statements of Operations of Unconsolidated Joint Venture Investments

	Three-Month Periods Ended March 31,
	2015			2014
Condensed Combined Statements of Operations
Revenues from operations	$	137,600		$	136,501
Expenses from operations:
Operating expenses		50,982			47,807
Impairment charges		448			—
Depreciation and amortization		56,737			41,214
Interest expense		40,903			50,058
Other (income) expense, net		367			3,043
		149,437			142,122
Loss before tax expense and discontinued operations		(11,837	)		(5,621	)
Income tax expense (primarily Sonae Sierra Brasil), net		—			(4,140	)
Loss from continuing operations		(11,837	)		(9,761	)
Discontinued operations:
Loss from discontinued operations	—				(2,490	)
Gain on disposition of real estate, net of tax	—				21,473
(Loss) income before gain on disposition of real estate, net		(11,837	)		9,222
Loss on disposition of real estate, net		(213	)		—
Net (loss) income	$	(12,050	)	$	9,222
Income attributable to non-controlling interests		—			(1,488	)
Net (loss) income attributable to unconsolidated joint ventures	$	(12,050	)	$	7,734
Company's share of equity in net (loss) income of joint ventures^(A)	$	(247	)	$	4,731
Basis differential adjustments^(B)		308			759
Equity in net income of joint ventures^(A)	$	61		$	5,490

(A)	The Company did not record income or loss from those investments in which its investment basis was zero as the Company did not have the intent or obligation to fund any additional capital in the joint ventures (Note 9).

(B)

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):

	Three-Month Periods Ended March 31,
	2015		2014
Management and other fees	$	6.3	$	6.1
Development fees and leasing commissions		1.6		2.0
Interest income		6.3		1.7