EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)

3 Months Ended

Mar. 31, 2013

EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS

Schedule of activity included in the allocation to noncontrolling interests

	Three Months Ended March 31,
	2013			2012
Distributions to preferred Operating Partnership units	$	(2,336	)	$	(5,434	)
Net loss allocation to noncontrolling interests in operating partnership from continuing operations (common units)	85			1,318
Net (income) loss allocated to noncontrolling interest in consolidated real estate affiliates	(537		)	749
Allocation to noncontrolling interests	(2,788		)	(3,367		)
Other comprehensive (income) loss allocated to noncontrolling interests	(53		)	(96		)
Comprehensive (income) loss allocated to noncontrolling interests	$	(2,841	)	$	(3,463	)

Schedule of redeemable noncontrolling interests

	Number of Common Units for each Preferred Unit	Number of Contractual Convertible Preferred Units Outstanding as of March 31, 2013	Converted Basis to Common Units Outstanding as of March 31, 2013	Conversion Price		Redemption Value
Series B (1)	3.00000	1,279,715	3,991,799	$	16.66670	$	79,356,964
Series D	1.50821	532,750	803,499	33.15188		26,637,502
Series E	1.29836	502,658	652,631	38.51000		25,132,820
Series C	1.00000	20,000	20,000	250.00000		5,000,000
						$	136,127,286

(1)  The conversion price of Series B preferred units is lower than the GGP March 31, 2013 closing common stock price of $19.88.  Therefore, a common stock price of $19.88 is used to calculate the Series B redemption value.

Activity of redeemable noncontrolling interests

Balance at January 1, 2012	$	223,795
Net loss	(1,318		)
Distributions	(685		)
Dividend for RPI Spin-Off	3,137
Other comprehensive income	96
Fair value adjustment for noncontrolling interests in Operating Partnership	16,119
Balance at March 31, 2012	$	241,144
Balance at January 1, 2013	$	268,219
Net loss	(85		)
Distributions	(732		)
Cash redemption of operating partnership units	(3,328		)
Other comprehensive income	53
Fair value adjustment for noncontrolling interests in Operating Partnership	(427		)
Balance at March 31, 2013	$	263,700

Summary of common stock dividends declared

Declaration Date	Record Date	Date Payable or Paid	Dividend Per Share
February 4, 2013	April 16, 2013	April 30, 2013	$	0.12
November 26, 2012	December 14, 2012	January 4, 2013	0.11
August 1, 2012	October 15, 2012	October 29, 2012	0.11
May 1, 2012	July 16, 2012	July 30, 2012	0.10
February 27, 2012	April 16, 2012	April 30, 2012	0.10