ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2012

ACQUISITIONS

Schedule of mall acquisitions

Date Acquired	Property Name	Location	Square Footage Acquired		Purchase Price
					(In thousands)
02/21/2012	Grand Traverse Mall(1)(3)	Grand Traverse, MI		306,241	$	62,000
12/28/2012	The Mall at Turtle Creek(2)(3)	Jonesboro, AR		367,919		96,300
Total				674,160	$	158,300

(1)

In conjunction with the acquisition, the Company assumed a restructured and discounted $62.0 million, five year non-recourse loan at a 5.02% interest rate. No premium or discount was recorded as a result of this mortgage assumption.

(2)

In conjunction with the acquisition, the Company assumed a $79.5 million, three year and six month non-recourse loan at a 6.54% interest rate. A discount of $4.8 million was recorded as a result of this mortgage assumption.

(3)

Rouse acquired a 100% interest in the mall.

Schedule of additional information regarding the Company's acquisitions

The following table presents certain additional information regarding the Company's acquisitions during the year ended December 31, 2012:

Property Name	Land		Building and Improvements		Acquired Lease Intangibles		Acquired Above Market Lease Intangibles		Acquired Below Market Lease Intangibles			Other
	(In thousands)
Grand Traverse Mall	$	11,420	$	40,046	$	6,363	$	4,210	$	(430	)	$	—
The Mall at Turtle Creek(1)		22,254		72,145		7,434		2,472		(4,440	)		1,276
Total	$	33,674	$	112,191	$	13,797	$	6,682	$	(4,870	)	$	1,276

(1)

Excludes discount on mortgage assumption of $4.8 million.

Schedule of condensed pro forma financial information

	For the year ended December 31, 2012
	As Adjusted (Unaudited)
	(In thousands, except per share amounts)
Total revenues	$	243,215
Net loss		(71,025	)
Net loss per share—basic and diluted	$	(1.54	)
Weighted average shares—basic and dilutive		46,149,893

	For the year ended December 31, 2011
	As Adjusted (Unaudited)
	(In thousands, except per share amounts)
Total revenues	$	250,434
Net loss		(32,862	)
Net loss per share—basic and diluted	$	(0.92	)
Weighted average shares—basic and dilutive		35,906,105

Schedule of intangible assets and liabilities

	Gross Asset (Liability)			Accumulated (Amortization)/ Accretion			Net Carrying Amount
	(In thousands)
As of December 31, 2012
Tenant leases:
In-place value	$	97,887		$	(39,681	)	$	58,206
Above-market		151,936			(62,529	)		89,407
Below-market		(53,558	)		18,490			(35,068	)
Ground leases:
Below-market		2,173			(267	)		1,906
As of December 31, 2011
Tenant leases:
In-place value	$	101,425		$	(33,389	)	$	68,036
Above-market		157,139			(40,464	)		116,675
Below-market		(53,882	)		13,762			(40,120	)
Ground leases:
Below-market		2,173			(142	)		2,031