Impairment of Real Estate, Impairment of Unconsolidated Entities and Write-Off of Abandoned Development Projects (Tables)

9 Months Ended

Oct. 31, 2013

Impairment of Real Estate Impairment of Unconsolidated Entities and Write Off of Abandoned Development Projects [Abstract]

Schedule of Impairment of Real Estate Included in Continuing Operations

The following table summarizes the Company's impairment of real estate included in continuing operations:

		Three Months Ended October 31,				Nine Months Ended October 31,
		2013		2012		2013		2012
		(in thousands)
LiveWork Las Vegas	Las Vegas, Nevada	$	112,838	$	—	$	112,838	$	—
Regional Malls:
Promenade Bolingbrook	Bolingbrook, Illinois	54,194		—		54,194		—
Orchard Town Center	Westminster, Colorado	15,649		—		15,649		—
Office Buildings:
Building J at Illinois Science and Technology Park	Skokie, Illinois	17,474		—		17,474		—
Halle Building	Cleveland, Ohio	—		30,200		—		30,200
Investment in triple net lease retail property	Kansas City, Missouri	—		—		6,870		—
Other		—		—		1,185		460
		$	200,155	$	30,200	$	208,210	$	30,660

Schedule of Impairment of Real Estate Included in Discontinued Operations

The Company had impairments related to consolidated real estate assets that were disposed of during the periods presented. The following table summarizes the Company's impairment of real estate included in discontinued operations:

		Three Months Ended October 31,				Nine Months Ended October 31,
		2013		2012		2013		2012
		(in thousands)
Investment in triple net lease retail property	Portage, Michigan	$	—	$	—	$	—	$	2,263
White Oak Village (Specialty Retail Center)	Richmond, Virginia	—		—		—		1,566
Other		—		164		—		425
		$	—	$	164	$	—	$	4,254

Unobservable Inputs Used to Determine the Fair Value of the Non-recurring Impairment of Real Estate

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of impairment of consolidated land held for divestiture for the nine months ended October 31, 2012:

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value October 31, 2012		Valuation Technique	Unobservable Input	Range of Input Values
	(in thousands)
Impairment of land held for divestiture	$	15,663	Indicative bids	Indicative bids	N/A(1)
Impairment of land held for divestiture	$	926	Discounted cash flows(2)	N/A	N/A

(1) These fair value measurements were developed by third party sources, subject to the Company’s corroboration for reasonableness.

(2) The Company used a discounted cash flow technique to estimate fair value; however, due to the estimated holding period being less than twelve months, the impact of discounting was deemed immaterial.

The following table presents quantitative information about the significant unobservable inputs used to determine the fair value of the impairment of real estate (including discontinued operations) for the nine months ended October 31, 2013 and 2012:

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation Technique	Unobservable Input	Range of Input Values
	(in thousands)
October 31, 2013
Impairment of real estate	$	212,204	Indicative Bids	Indicative Bids	N/A (1)
Impairment of real estate	$	29,500	Comparable Property Market Analysis	Price Per Square Foot	$22 to $55 per square foot (2)
October 31, 2012
Impairment of real estate	$	83,193	Indicative Bids	Indicative Bids	N/A (1)
Impairment of real estate	$	10,500	Discounted Cash Flow	Discount Rate	10.0%

(1) These fair value measurements were derived from bona fide purchase offers from third party prospective buyers, subject to the Company’s corroboration for reasonableness.

(2) Weighted average price is $45 per square foot.