Impairment of Real Estate and Impairment of Unconsolidated Entities (Tables)

6 Months Ended

Jun. 30, 2015

Impairment of Real Estate and Impairment of Unconsolidated Entities [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 June 30,				Six Months Ended June 30,
		2015		2014		2015		2014
		(in thousands)
Avenue at Tower City Center (Specialty Retail Center)	Cleveland, Ohio	$	—	$	72,473	$	—	$	72,473
Office Buildings:
Terminal Tower	Cleveland, Ohio	—		42,208		—		42,208
Post Office Plaza	Cleveland, Ohio	—		14,378		—		14,378
Other		—		770		—		770
Total		$	—	$	129,829	$	—	$	129,829

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 the impairment of real estate for the six months ended June 30, 2014.

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation Technique	Unobservable Input	Range of Input Values
	(in thousands)
June 30, 2014
Impairment of real estate	$	44,200	Discounted cash flows	Market capitalization rate	8.0% - 10.0%
				Discount rate	10.5% - 12.0%
Impairment of real estate	$	34,750	Indicative bids	Indicative bids	N/A (1)

(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.