Business Segments (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Business Segments

(Dollars in thousands)	Shopping Centers			Mixed-Use Properties			Corporate and Other			Consolidated Totals
Three months ended September 30, 2014
Real estate rental operations:
Revenue	$	37,506		$	13,066		$	23		$	50,595
Expenses	(8,088		)	(3,992		)	—			(12,080		)
Income from real estate	29,418			9,074			23			38,515
Interest expense and amortization of deferred debt costs	—			—			(11,584		)	(11,584		)
General and administrative	—			—			(3,837		)	(3,837		)
Acquisition related costs	(359		)	—			—			(359		)
Predevelopment expenses	—			—			—			—
Subtotal	29,059			9,074			(15,398		)	22,735
Depreciation and amortization of deferred leasing costs	(7,055		)	(3,201		)	—			(10,256		)
Gain on sale of property	—			—			—			—
Change in fair value of derivatives	—			—			1			1
Net income (loss)	$	22,004		$	5,873		$	(15,397	)	$	12,480
Capital investment	$	31,541		$	6,026		$	—		$	37,567
Total assets	$	942,441		$	301,043		$	15,044		$	1,258,528
Three months ended September 30, 2013
Real estate rental operations:
Revenue	$	36,486		$	13,257		$	13		$	49,756
Expenses	(7,732		)	(4,175		)	—			(11,907		)
Income from real estate	28,754			9,082			13			37,849
Interest expense and amortization of deferred debt costs	—			—			(11,738		)	(11,738		)
General and administrative	—			—			(3,501		)	(3,501		)
Acquisition related costs	(99		)	—			—			(99		)
Predevelopment expenses	—			(60		)	—			(60		)
Subtotal	28,655			9,022			(15,226		)	22,451
Depreciation and amortization of deferred leasing costs	(6,785		)	(3,707		)	—			(10,492		)
Change in fair value of derivatives	—			—			46			46
Loss on early extinguishment of debt	—			—			(497		)	(497		)
Net income (loss)	$	21,870		$	5,315		$	(15,677	)	$	11,508
Capital investment	$	8,025		$	706		$	—		$	8,731
Total assets	$	892,716		$	294,149		$	12,307		$	1,199,172

(Dollars in thousands)	Shopping Centers			Mixed-Use Properties			Corporate and Other			Consolidated Totals
Nine months ended September 30, 2014
Real estate rental operations:
Revenue	$	116,381		$	39,389		$	58		$	155,828
Expenses	(25,580		)	(11,570		)	—			(37,150		)
Income from real estate	90,801			27,819			58			118,678
Interest expense and amortization of deferred debt costs	—			—			(34,537		)	(34,537		)
General and administrative	—			—			(12,540		)	(12,540		)
Acquisition related costs	(738		)	—			—			(738		)
Predevelopment expenses	—			(503		)	—			(503		)
Subtotal	90,063			27,316			(47,019		)	70,360
Depreciation and amortization of deferred leasing costs	(20,863		)	(9,882		)	—			(30,745		)
Gain on sale of property	6,069			—			—			6,069
Change in fair value of derivatives	—			—			(6		)	(6		)
Net income (loss)	$	75,269		$	17,434		$	(47,025	)	$	45,678
Capital investment	$	55,865		$	14,047		$	—		$	69,912
Total assets	$	942,441		$	301,043		$	15,044		$	1,258,528
Nine months ended September 30, 2013
Real estate rental operations:
Revenue	$	108,282		$	39,412		$	57		$	147,751
Expenses	(22,709		)	(12,933		)	—			(35,642		)
Income from real estate	85,573			26,479			57			112,109
Interest expense and amortization of deferred debt costs	—			—			(35,164		)	(35,164		)
General and administrative	—			—			(10,830		)	(10,830		)
Acquisition related costs	(99		)	—			—			(99		)
Predevelopment expenses	—			(3,642		)	—			(3,642		)
Subtotal	85,474			22,837			(45,937		)	62,374
Depreciation and amortization of deferred leasing costs	(20,527		)	(18,789		)	—			(39,316		)
Change in fair value of derivatives	—			—			107			107
Loss on early extinguishment of debt	—			—			(497		)	(497		)
Net income (loss)	$	64,947		$	4,048		$	(46,327	)	$	22,668
Capital investment	$	13,829		$	6,278		$	—		$	20,107
Total assets	$	892,716		$	294,149		$	12,307		$	1,199,172