Business Segments (Tables)

6 Months Ended

Jun. 30, 2013

Business Segments

	Shopping			Mixed-Use			Corporate			Consolidated
(Dollars in thousands)	Centers			Properties			and Other			Totals
Three months ended June 30, 2013
Real estate rental operations:
Revenue	$	35,749		$	13,047		$	13		$	48,809
Expenses		(7,222	)		(4,537	)		—			(11,759	)
Income from real estate		28,527			8,510			13			37,050
Interest expense and amortization of deferred debt costs		—			—			(11,709	)		(11,709	)
Predevelopment expenses		—			(1,233	)		—			(1,233	)
General and administrative		—			—			(3,925	)		(3,925	)
Subtotal		28,527			7,277			(15,621	)		20,183
Depreciation and amortization of deferred leasing costs		(6,913	)		(5,559	)		—			(12,472	)
Change in fair value of derivatives		—			—			51			51
Net income (loss)	$	21,614		$	1,718		$	(15,570	)	$	7,762
Capital investment	$	2,305		$	4,007		$	—		$	6,312
Total assets	$	885,816		$	292,048		$	13,746		$	1,191,610
Three months ended June 30, 2012
Real estate rental operations:
Revenue	$	34,214		$	13,118		$	40		$	47,372
Expenses		(7,410	)		(4,275	)		—			(11,685	)
Income from real estate		26,804			8,843			40			35,687
Interest expense and amortization of deferred debt costs		—			—			(12,554	)		(12,554	)
General and administrative		—			—			(3,784	)		(3,784	)
Subtotal		26,804			8,843			(16,298	)		19,349
Depreciation and amortization of deferred leasing costs		(6,272	)		(3,477	)		—			(9,749	)
Change in fair value of derivatives		—			—			(16	)		(16	)
Income from operation of property sold		11			—			—			11
Net income (loss)	$	20,543		$	5,366		$	(16,314	)	$	9,595
Capital investment	$	1,219		$	2,153		$	—		$	3,372
Total assets	$	858,431		$	304,044		$	38,595		$	1,201,070

(Dollars in thousands)	Shopping Centers			Mixed-Use Properties			Corporate and Other			Consolidated Totals
Six months ended June 30, 2013
Real estate rental operations:
Revenue	$	71,796		$	26,155		$	44		$	97,995
Expenses		(14,977	)		(8,758	)		—			(23,735	)
Income from real estate		56,819			17,397			44			74,260
Interest expense and amortization of deferred debt costs		—			—			(23,426	)		(23,426	)
Predevelopment expenses		—			(3,582	)		—			(3,582	)
General and administrative		—			—			(7,329	)		(7,329	)
Subtotal		56,819			13,815			(30,711	)		39,923
Depreciation and amortization of deferred leasing costs		(13,742	)		(15,082	)		—			(28,824	)
Change in fair value of derivatives		—			—			61			61
Net income (loss)	$	43,077		$	(1,267	)	$	(30,650	)	$	11,160
Capital investment	$	5,804		$	5,572		$	—		$	11,376
Total assets	$	885,816		$	292,048		$	13,746		$	1,191,610
Six months ended June 30, 2012
Real estate rental operations:
Revenue	$	68,153		$	26,156		$	52		$	94,361
Expenses		(14,992	)		(8,618	)		—			(23,610	)
Income from real estate		53,161			17,538			52			70,751
Interest expense and amortization of deferred debt costs		—			—			(25,287	)		(25,287	)
General and administrative		—			—			(7,031	)		(7,031	)
Subtotal		53,161			17,538			(32,266	)		38,433
Depreciation and amortization of deferred leasing costs		(12,638	)		(6,869	)		—			(19,507	)
Change in fair value of derivatives		—			—			(19	)		(19	)
Income from operation of property sold		8			—			—			8
Net income (loss)	$	40,531		$	10,669		$	(32,285	)	$	18,915
Capital investment	$	3,472		$	3,800		$	—		$	7,272
Total assets	$	858,431		$	304,044		$	38,595		$	1,201,070