Marketable Securities

6 Months Ended

Jun. 30, 2013

Marketable Securities [Abstract]

Marketable Securities [Text Block]

5.Marketable Securities

As of June 30, 2013, we own 535,265 common shares of The Macerich Company (NYSE: MAC) (“Macerich”), which were received in connection with the sale of Kings Plaza to Macerich. These shares have an economic cost of $56.05 per share, or $30,000,000 in the aggregate. As of June 30, 2013, these shares have a fair value of $32,635,000, based on Macerich's closing share price of $60.97 per share. These shares are included in “marketable securities” on our consolidated balance sheets and are classified as available-for-sale. Available-for-sale securities are presented at fair value. Unrealized gains and losses resulting from the mark-to-market of these securities are included in “other comprehensive income.”The three and six months ended June 30, 2013 includean unrealized loss of $1,825,000 and an unrealized gain of $1,429,000, respectively,from the mark-to-market of these securities.