Business Segments (Tables)

9 Months Ended

Sep. 30, 2015

Segment Reporting [Abstract]

Business Segments

(Dollars in thousands)	Shopping Centers			Mixed-Use Properties			Corporate and Other			Consolidated Totals
Three months ended September 30, 2015
Real estate rental operations:
Revenue	$	38,903		$	13,462		$	11		$	52,376
Expenses	(8,295		)	(4,567		)	—			(12,862		)
Income from real estate	30,608			8,895			11			39,514
Interest expense and amortization of deferred debt costs	—			—			(11,229		)	(11,229		)
General and administrative	—			—			(3,802		)	(3,802		)
Acquisition related costs	(57		)	—			—			(57		)
Predevelopment expenses	(57		)	—			—			(57		)
Subtotal	30,494			8,895			(15,020		)	24,369
Depreciation and amortization of deferred leasing costs	(7,779		)	(3,352		)	—			(11,131		)
Change in fair value of derivatives	—			—			(6		)	(6		)
Net income (loss)	$	22,715		$	5,543		$	(15,026	)	$	13,232
Capital investment	$	7,404		$	16,932		$	—		$	24,336
Total assets	$	941,421		$	340,983		$	14,546		$	1,296,950
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		)
Subtotal	29,059			9,074			(15,398		)	22,735
Depreciation and amortization of deferred leasing costs	(7,055		)	(3,201		)	—			(10,256		)
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

(Dollars in thousands)	Shopping Centers			Mixed-Use Properties			Corporate and Other			Consolidated Totals
Nine months ended September 30, 2015
Real estate rental operations:
Revenue	$	116,567		$	39,571		$	37		$	156,175
Expenses	(25,785		)	(13,326		)	—			(39,111		)
Income from real estate	90,782			26,245			37			117,064
Interest expense and amortization of deferred debt costs	—			—			(33,988		)	(33,988		)
General and administrative	—			—			(11,712		)	(11,712		)
Acquisition related costs	(78		)	—			—			(78		)
Predevelopment expenses	(57		)	—			—			(57		)
Subtotal	90,647			26,245			(45,663		)	71,229
Depreciation and amortization of deferred leasing costs	(22,633		)	(9,749		)	—			(32,382		)
Gain on sale of property	11			—			—			11
Change in fair value of derivatives	—			—			(12		)	(12		)
Net income (loss)	$	68,025		$	16,496		$	(45,675	)	$	38,846
Capital investment	$	12,883		$	37,030		$	—		$	49,913
Total assets	$	941,421		$	340,983		$	14,546		$	1,296,950
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