Contingencies (Tables)

3 Months Ended

Mar. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Schedule of guarantees

The following table represents the Company's guarantees of unconsolidated affiliates' debt as reflected in the accompanying condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014:

	As of March 31, 2015									Obligation recorded to reflect guaranty
Unconsolidated Affiliate	Company's Ownership Interest	Outstanding Balance		Percentage Guaranteed by the Company		Maximum Guaranteed Amount		Debt Maturity Date (1)		3/31/2015		12/31/14
West Melbourne I, LLC - Phase I	50%	$	40,051	25%		$	10,012	Nov-2015	(2)	$	101	$	101
West Melbourne I, LLC - Phase II	50%	15,556		N/A	(3)	8,700		Nov-2015	(2)	87		87
Port Orange I, LLC	50%	60,526		25%		15,132		Nov-2015	(2)	153		153
JG Gulf Coast Town Center, LLC - Phase III	50%	5,548		100%		5,548		Jul-2015		—		—
Fremaux Town Center JV, LLC - Phase I	65%	40,596		50%	(4)	21,023		Aug-2016	(5)	236		236
Fremaux Town Center JV, LLC - Phase II	65%	7,460		50%	(6)	16,050		Aug-2016	(5)	161		161
Ambassador Town Center JV, LLC	65%	1,455		100%	(7)	48,200		Dec-2017	(8)	482		482
Ambassador Infrastructure, LLC	65%	1,002		100%	(9)	11,700		Dec-2017	(8)	177		177
				Total guaranty liability						$	1,397	$	1,397

(1) Excludes any extension options.

(2) The loan has twoone-year extension options, which are at the unconsolidated affiliate's election, for an outside maturity date of November 2017.

(3) In the fourth quarter of 2014, the loan was amended and restated to add funding for the construction of Academy Sports. The guaranty was also amended to cap the maximum guaranteed amount at $8,700 unless a monetary default event occurs related to Carmike Cinema or Academy Sports. The guaranty will be reduced to 25% once Academy Sports is operational and paying contractual rent.

(4) The Company received a 1% fee for this guaranty when the loan was issued in March 2013. The guaranty will be reduced to 25% upon the opening of LA Fitness and payment of contractual rent. The guaranty will be further reduced to 15% when Phase I of the development has been open for one year and a debt service coverage ratio of 1.30 to 1.00 is met.

(5) The loan has twoone-year extension options, which are at the unconsolidated affiliate's election, for an outside maturity date of August 2018.

(6) The Company received a 1% fee for this guaranty when the loan was issued in August 2014. Upon completion of Phase II of the development and once certain leasing and occupancy metrics have been met, the guaranty will be reduced to 25%. The guaranty will be further reduced to 15% when Phase II of the development has been open for one year, the debt service coverage ratio of 1.30 to 1.00 is met and Dillard's is operational.

(7) The Company received a 1% fee for this guaranty when the loan was issued in December 2014. Once construction is complete, the guaranty will be reduced to 50%. The guaranty will be further reduced from 50% to 15% once the construction of Ambassador Town Center and its related infrastructure improvements is complete as well as upon the attainment of certain debt service and operational metrics.

(8) The loan has twoone-year extension options, which are the joint venture's election, for an outside maturity date of December 2019.

(9) The Company received a 1% fee for this guaranty when the loan was issued in December 2014. The guaranty will be reduced to 50% on March 1st of the year following any calendar year during which the payment-in-lieu of taxes ("PILOT") payments received by Ambassador Infrastructure and delivered to the lender are $1,200 or more, provided no event of default exists. The guaranty will be reduced to 20% when the PILOT payments are $1,400 or more, provided no event of default exists.