Acquisitions and Discontinued Operations

9 Months Ended

Sep. 30, 2013

Acquisitions and Discontinued Operations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition

In the second quarter of 2013, the Company acquired the remaining 51% noncontrolling interest in Kirkwood Mall in Bismarck, ND. See Note 5 for additional information. The pro forma effect of the acquisition was not material.

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

The results of operations of the properties described below, as well as any gains or impairment losses related to those properties, are included in discontinued operations for all periods presented, as applicable. Net proceeds from these sales were used to reduce the outstanding balances on the Company's credit facilities. The following is a summary of the Company's dispositions since January 1, 2012:

				Sales Price				Gain/ (Loss)
Sales Date	Property	Property Type	Location	Gross		Net
August 2013	Georgia Square & Georgia Square Plaza, Panama City Mall & The Shoppes at Panama City, RiverGate Mall and Village at RiverGate (1)	Mall & Associated Center	Athens, GA Panama City, FL Nashville, TN	$176,000		$	171,977	$	—
March 2013	1500 Sunday Drive	Office Building	Raleigh, NC	8,300		7,862		(549		)
March 2013	Peninsula I & II	Office Building	Newport News, VA	5,250		5,121		598
January 2013	Lake Point & SunTrust (2)	Office Building	Greensboro, NC	30,875		30,490		823
December 2008	706 & 708 Green Valley Road (3)	Office Building	Greensboro, NC					281
	Various (4)							9
			2013 Activity	$	220,425	$	215,450	$	1,162
December 2012	Willowbrook Plaza (5)	Community Center	Houston, TX	$	24,450	$	24,171	$	—
October 2012	Towne Mall (6)	Mall	Franklin, OH	950		892		—
October 2012	Hickory Hollow Mall (7)	Mall	Antioch, TN	1,000		966		—
July 2012	Massard Crossing	Community Center	Fort Smith, AR	7,803		7,432		98
March 2012	Settlers Ridge - Phase II	Community Center	Robinson Township, PA	19,144		18,951		858
January 2012	Oak Hollow Square (8)	Community Center	High Point, NC	14,247		13,796		(1		)
November 2011	Westridge Square (4)	Community Center	Greensboro, NC					28
			2012 Activity	$	67,594	$	66,208	$	983

(1) Net loss on impairment of $5,234 recorded in the third quarter of 2013 to write down the book value of six properties sold in a portfolio sale to the net sales price.

(2) Classified as held for sale as of December 31, 2012.

(3) Recognition of gain deferred in December 2008 until subsequent repayment of notes receivable.

(4) Reflects subsequent true-ups for settlement of estimated expenses based on actual amounts.

(5) Loss on impairment of $17,743 recorded in the third quarter of 2012 to write down the book value of this property to its then estimated fair value.

(6) Loss on impairment of $419 recorded in the third quarter of 2012 to write down the book value of this property to expected sales price.

(7) Loss on impairment of $8,047 recorded in the third quarter of 2012 to write down the book value of this property to expected sales price.

(8) Loss on impairment of $255 recorded in the first quarter of 2012 related to the true-up of certain estimated amounts to actual amounts.

Total revenues of the properties described above that are included in discontinued operations were $1,932 and $10,656 for the three months ended September 30, 2013 and 2012, respectively, and $16,163 and $33,925 for the nine months ended September 30, 2013 and 2012, respectively. The total net investment in real estate assets at the time of sale for the properties sold during the nine months ended September 30, 2013 was $219,829. There were no outstanding mortgage loans for any of the properties that were sold during the nine months ended September 30, 2013. Discontinued operations for the three and nine month periods ended September 30, 2013 and 2012 also include settlements of estimated expenses based on actual amounts for properties sold during previous periods.