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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2015
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | In 2015 and 2014, the Company acquired the following shopping centers (in millions):
Location or Transaction |  | Date Acquired |  | Purchase Price |  |  | Face Value of Mortgage Debt Assumed |
Orange County, CA(A) |  | March 2015 |  | $ | 49.2 |  |  | $ | 33.0 |
Orlando, FL |  | April 2015 |  |  | 33.0 |  |  |  | — |
Houston, TX |  | June 2015 |  |  | 69.8 |  |  |  | — |
Orlando, FL |  | December 2015 |  |  | 67.1 |  |  |  | — |
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 |  |  |  | — |
(A) | Acquired from various unconsolidated joint ventures in separate transactions. See description of Blackstone II Acquisition below.
Schedule of Acquisition Cost of Shopping Centers | The fair value of acquisitions was allocated as follows (in thousands):
|  |  |  |  |  |  |  |  | Weighted-Average Amortization Period (in Years)
| 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014
Land | $ | 74,699 |  |  | $ | 147,559 |  |  | N/A |  |  | N/A
Buildings |  | 140,668 |  |  |  | 399,274 |  |  | (B) |  |  | (B)
Tenant improvements |  | 5,229 |  |  |  | 9,625 |  |  | (B) |  |  | (B)
Construction in progress |  | — |  |  |  | 76,214 |  |  | N/A |  |  | N/A
In-place leases (including lease origination costs and fair market value of leases)(A) |  | 19,250 |  |  |  | 59,684 |  |  |  | 7.3 |  |  | 7.1
Tenant relations |  | 9,176 |  |  |  | 35,828 |  |  |  | 10.9 |  |  | 7.7
Other assets |  | 1,252 |  |  |  | 4,402 |  |  | N/A |  |  | N/A
|  | 250,274 |  |  |  | 732,586 |  |  |  |  |  |  |
Less: Mortgage debt assumed at fair value |  | (33,735 | ) |  |  | (293,288 | ) |  | N/A |  |  | N/A
Less: Below-market leases |  | (29,885 | ) |  |  | (28,115 | ) |  |  | 18.4 |  |  | 19.1
Less: Other liabilities assumed |  | (1,169 | ) |  |  | (3,478 | ) |  | N/A |  |  | N/A
Net assets acquired | $ | 185,485 |  |  | $ | 407,705 |  |  |  |  |  |  |
(A) | Includes above-market value leases of $1.5 million and $8.8 million at December 31, 2015 and 2014, respectively.
(B) | Depreciated in accordance with the Company’s policy (Note 1).
Consideration |
| 2015 |  |  | 2014 |
Consideration: |  |  |  |  |  |  |
Cash (including debt repaid at closing) | $ | 169,805 |  |  | $ | 330,929 |
Gain on Change in Control of Interests |  | 14,279 |  |  |  | 4,296 |
Carrying value of previously held equity interest(A) |  | 1,401 |  |  |  | 2,449 |
Repayment of preferred equity interest and mezzanine loan |  | — |  |  |  | 51,775 |
Issuance of OP Units |  | — |  |  |  | 18,256 |
Total consideration(B) | $ | 185,485 |  |  | $ | 407,705 |
Unaudited Supplemental to Pro Forma Operating Data | The following unaudited supplemental pro forma operating data is presented for the year ended December 31, 2015, as if the acquisition of the properties acquired in 2015 were completed on January 1, 2014. The following unaudited supplemental pro forma operating data is presented for the year ended December 31, 2014, as if the acquisition of the interests in the properties acquired in 2014 were completed on January 1, 2013. The Gain on Change in Control of Interests related to the acquisitions from unconsolidated joint ventures was adjusted to the assumed acquisition date as explained above. 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 (in thousands, except per share amounts).
| For the Year Ended December 31, (Unaudited) |
| 2015 |  |  | 2014 |
Pro forma revenues | $ | 1,037,503 |  |  | $ | 1,037,525 |
Pro forma (loss) income from continuing operations | $ | (250,685 | ) |  | $ | 24,128 |
Pro forma net (loss) income attributable to common shareholders | $ | (107,347 | ) |  | $ | 94,306 |
Basic and diluted earnings per share data: |  |  |  |  |  |  |
Net (loss) income attributable to common shareholders | $ | (0.30 | ) |  | $ | 0.26 |
Blackstone Acquisition [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The acquisition was completed as follows
Terms |  | Blackstone II Acquisition Assets |
Date acquired |  | September 2014 |
Number of centers |  |  | 7 |
Transaction value at 100% |  | $395.3 million |
Mortgage debt assumed at 95% (face value) |  | $233.3 million |
Mortgage debt repaid at closing |  | $28.0 million |
DDR preferred equity interest repaid to DDR |  | $31.2 million |
Gain on Change in Control of Interests |  | $4.0 million |

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