XML 25 R28.htm IDEA: XBRL DOCUMENT v2.4.0.8
Investments in Partnerships - Summary of Equity Investments (Detail) (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2014
Dec. 31, 2013
Mar. 31, 2014
Leigh Valley Associates, LP [Member]
Mar. 31, 2013
Leigh Valley Associates, LP [Member]
Schedule of Equity Method Investments [Line Items]        
Total assets $ 277,522 $ 284,694 $ 51,016 $ 59,690
Equity Method Investment, Summarized Financial Information, Mortgages Payable     133,017 135,073
Equity Method Investment, Summarized Financial Information, Revenue     9,034 8,716
Equity Method Investment, Summarized Financial Information, Property Operating Expenses     2,764 2,213
Equity Method Investment, Summarized Financial Information, Interest Expense     1,971 2,001
Equity Method Investment, Summarized Financial Information, Net Income (Loss)     3,207 3,663
Equity Method Investment, Summarized Financial Information, Share of Equity in Income of Partnership     1,604 1,832
Investments in real estate, at cost:        
Operating properties 419,245 416,964    
Construction in progress 2,428 2,298    
Total investments in real estate 421,673 419,262    
Accumulated depreciation (172,714) (169,369)    
Net investments in real estate 248,959 249,893    
Cash and cash equivalents 10,496 15,327    
Deferred costs and other assets, net 18,067 19,474    
Total assets 277,522 284,694 51,016 59,690
LIABILITIES AND PARTNERS’ DEFICIT:        
Mortgage loans payable 397,000 398,717    
Other liabilities 7,706 9,667    
Total liabilities 404,706 408,384    
Net deficit (127,184) (123,690)    
Partners’ share (68,057) (66,325)    
PREIT’s share (59,127) (57,365)    
Excess investment 8,803 [1] 8,837 [1]    
Net investments and advances (50,324) (48,528)    
Investment in partnerships, at equity 15,090 15,963    
Distributions in excess of partnership investments $ (65,414) $ (64,491)    
[1] Excess investment represents the unamortized difference between our investment and our share of the equity in the underlying net investment in the partnerships. The excess investment is amortized over the life of the properties, and the amortization is included in “Equity in income of partnerships.”