Unconsolidated Affiliates, Noncontrolling Interests and Cost Method Investments (Tables)

3 Months Ended

Mar. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investments accounted for using the equity method of accounting

At March 31, 2014, the Company had investments in the following 17 entities, which are accounted for using the equity method of accounting:



Joint Venture	Property Name	Company's Interest
CBL/T-C, LLC	CoolSprings Galleria, Oak Park Mall and West County Center	50.0%
CBL-TRS Joint Venture, LLC	Friendly Center, The Shops at Friendly Center and a portfolio of four office buildings	50.0%
CBL-TRS Joint Venture II, LLC	Renaissance Center	50.0%
El Paso Outlet Outparcels, LLC	The Outlet Shoppes at El Paso (vacant land)	50.0%
Fremaux Town Center JV, LLC	Fremaux Town Center	65.0%
Governor’s Square IB	Governor’s Plaza	50.0%
Governor’s Square Company	Governor’s Square	47.5%
High Pointe Commons, LP	High Pointe Commons	50.0%
High Pointe Commons II-HAP, LP	High Pointe Commons - Christmas Tree Shop	50.0%
JG Gulf Coast Town Center LLC	Gulf Coast Town Center	50.0%
Kentucky Oaks Mall Company	Kentucky Oaks Mall	50.0%
Mall of South Carolina L.P.	Coastal Grand—Myrtle Beach	50.0%
Mall of South Carolina Outparcel L.P.	Coastal Grand—Myrtle Beach (Coastal Grand Crossing and vacant land)	50.0%
Port Orange I, LLC	The Pavilion at Port Orange Phase I and one office building	50.0%
Triangle Town Member LLC	Triangle Town Center, Triangle Town Commons and Triangle Town Place	50.0%
West Melbourne I, LLC	Hammock Landing Phases I and II	50.0%
York Town Center, LP	York Town Center	50.0%

Condensed combined financial statement information - unconsolidated affiliates

Condensed combined financial statement information of these unconsolidated affiliates is as follows:



	As of
ASSETS	March 31, 2014			December 31, 2013
Investment in real estate assets	$	2,227,475		$	2,167,227
Accumulated depreciation	(570,764		)	(555,174		)
	1,656,711			1,612,053
Developments in progress	53,909			103,161
Net investment in real estate assets	1,710,620			1,715,214
Other assets	176,103			168,799
Total assets	$	1,886,723		$	1,884,013

LIABILITIES
Mortgage and other indebtedness	$	1,478,401		$	1,468,422
Other liabilities	41,133			48,203
Total liabilities	1,519,534			1,516,625

OWNERS' EQUITY
The Company	212,231			213,664
Other investors	154,958			153,724
Total owners' equity	367,189			367,388
Total liabilities and owners' equity	$	1,886,723		$	1,884,013



	Total for the Three Months Ended March 31,						Company's Share for the Three Months Ended March 31,
	2014			2013			2014			2013
Total revenues	$	61,821		$	60,719		$	31,952		$	31,670
Depreciation and amortization	(18,787		)	(19,148		)	(9,861		)	(9,948		)
Interest income	340			339			259			235
Interest expense	(18,558		)	(19,668		)	(9,491		)	(10,072		)
Operating expenses	(18,181		)	(18,752		)	(9,175		)	(9,266		)
Net income	$	6,635		$	3,490		$	3,684		$	2,619

Loan activity, unconsolidated affiliates

The following table presents the loan activity of the Company's unconsolidated affiliates since January 1, 2014:



Date	Property	Stated Interest Rate	Maturity Date ⁽¹⁾	Amount Financed or Extended
February	Fremaux Town Center - Phase I ⁽²⁾	LIBOR + 2.125%	March 2016	$	47,291


(1)	The construction loan has two one-year extension options, which are at the joint venture's election, for an outside maturity date of March 2018.


(2)	Fremaux Town Center JV, LLC ("Fremaux") amended and restated its March 2013 loan agreement to increase the capacity on its construction loan from $46,000 to $47,291 for additional development costs related to Fremaux Town Center. The Company has guaranteed 100% of the loan.

Redeemable non-controlling preferred joint venture interest

The 2013 activity related to the redeemable noncontrolling preferred joint venture interest represented by the PJV units that the Company redeemed in September 2013 is as follows:



	Three Months Ended March 31, 2013
Beginning Balance	$	423,834
Net income attributable to redeemable noncontrolling preferred joint venture interest	5,085
Distributions to redeemable noncontrolling preferred joint venture interest	(5,200		)
Ending Balance	$	423,719