Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables set forth information regarding the Company’s financial instruments that are measured at fair value on a recurring basis in the accompanying condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013:

			Fair Value Measurements at Reporting Date Using
	Fair Value at March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	$	14,974	$	14,974	$	—	$	—
Liabilities:
Interest rate swaps	$	3,603	$	—	$	3,603	$	—

			Fair Value Measurements at Reporting Date Using
	Fair Value at December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Available-for-sale securities	$	13,973	$	13,973	$	—	$	—
Interest rate cap	—		—		—		—
Liabilities:
Interest rate swaps	$	4,007	—		$	4,007	$	—

Summary of Available-for-sale Securities

The following is a summary of the available-for-sale securities held by the Company as of March 31, 2014 and December 31, 2013:

			Gross Unrealized
	Adjusted Cost		Gains		Losses		Fair Value
March 31, 2014:
Common stocks	$	4,195	$	10,779	$	—	$	14,974

			Gross Unrealized
	Adjusted Cost		Gains		Losses		Fair Value
December 31, 2013:
Common stocks	$	4,195	$	9,778	$	—	$	13,973

Schedule of Fair Value, Assets Measured on Nonrecurring Basis

The following table sets forth information regarding the Company's assets that are measured at fair value on a nonrecurring basis:

			Fair Value Measurements at Reporting Date Using
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Loss
2014:
Long-lived assets	$	67,128	$	—	$	—	$	67,128	$	17,150

Reconciliation of Carrying Value

A reconciliation of each mall's carrying values for the three months ending March 31, 2014 is as follows:

	Lakeshore Mall (1)			Chapel Hill Mall (2)			Total
Beginning carrying value, January 1, 2014	$	19,127		$	66,062		$	85,189
Capital expenditures	11			—			11
Depreciation expense	(258		)	(664		)	(922		)
Loss on impairment of real estate	(5,100		)	(12,050		)	(17,150		)
Ending carrying value, March 31, 2014	$	13,780		$	53,348		$	67,128

(1) The revenues of Lakeshore Mall accounted for approximately 0.4% of total consolidated revenues for the trailing twelve months ended March 31, 2014.

(2) The revenues of Chapel Hill Mall accounted for approximately 1.0% of total consolidated revenues for the trailing twelve months ended March 31, 2014.