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Subsequent Events
3 Months Ended
Mar. 31, 2014
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
In May 2014, the Company sold Lakeshore Mall, located in Sebring, FL for $14,000.
In April 2014, OK City Outlets II, LLC and OK City Outlets III, LLC closed on an operating property loan and a construction loan for $6,000 and $5,400, respectively. The loans bear interest at LIBOR plus a margin of 275 basis points. The loans mature in April 2019 and have two one-year extensions, which are at the consolidated joint ventures' election, for an outside maturity date of April 2021. The Operating Partnership has guaranteed 100% of the construction loan until construction is complete and certain financial and operational metrics are met.
In April 2014, EL Paso Outlet Center II Expansion, LLC closed on a four-year $7,000 construction loan, secured by the second phase expansion of The Outlet Shoppes at El Paso. Interest on the loan is at LIBOR plus a margin of 275 basis points. The Operating Partnership has guaranteed 100% of this loan until construction is complete and certain financial and operational metrics are met.
The Company has evaluated subsequent events through the date of issuance of these financial statements.