XML 40 R29.htm IDEA: XBRL DOCUMENT v3.2.0.727
Unconsolidated Affiliates, Redeemable Interests, Noncontrolling Interests and Cost Method Investments (Tables)
 6 Months Ended
Jun. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]  
Investments accounted for using the equity method of accounting
At June 30, 2015, the Company had investments in the following 19 entities, which are accounted for using the equity method of accounting:
Joint Venture
Property Name
Company's
Interest
Ambassador Infrastructure, LLC
Ambassador Town Center - Infrastructure Improvements
65.0%
Ambassador Town Center JV, LLC
Ambassador Town Center
65.0%
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 Phases I and II
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
50.0%
Mall of South Carolina Outparcel L.P.
Coastal Grand (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
June 30,
2015
 
December 31,
2014
Investment in real estate assets
$
2,303,724

 
$
2,266,252

Accumulated depreciation
(648,705
)
 
(619,558
)
 
1,655,019

 
1,646,694

Developments in progress
68,749

 
75,877

Net investment in real estate assets
1,723,768

 
1,722,571

Other assets
169,288

 
170,554

    Total assets
$
1,893,056

 
$
1,893,125

 
 
 
 
LIABILITIES
 
 
 
Mortgage and other indebtedness
$
1,517,877

 
$
1,512,826

Other liabilities
42,211

 
42,517

    Total liabilities
1,560,088

 
1,555,343

 
 
 
 
OWNERS' EQUITY
 
 
 
The Company
194,296

 
198,261

Other investors
138,672

 
139,521

Total owners' equity
332,968

 
337,782

    Total liabilities and owners' equity
$
1,893,056

 
$
1,893,125

 
Total for the Three Months
Ended June 30,
 
Company's Share for the
Three Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Total revenues
$
63,111

 
$
61,400

 
$
32,958

 
$
32,066

Depreciation and amortization
(19,641
)
 
(19,230
)
 
(10,303
)
 
(10,256
)
Interest income
335

 
339

 
257

 
259

Interest expense
(18,589
)
 
(18,746
)
 
(9,587
)
 
(9,662
)
Operating expenses
(17,468
)
 
(17,488
)
 
(9,045
)
 
(8,989
)
Gain on sales of real estate assets
619

 
—

 
601

 
—

Net income
$
8,367

 
$
6,275

 
$
4,881

 
$
3,418

 
 
 
 
 
 
 
 
 
Total for the Six Months
Ended June 30,
 
Company's Share for the
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Total revenues
$
125,583

 
$
123,221

 
$
65,793

 
$
64,018

Depreciation and amortization
(39,122
)
 
(38,017
)
 
(20,620
)
 
(20,117
)
Interest income
667

 
679

 
512

 
518

Interest expense
(37,383
)
 
(37,304
)
 
(19,272
)
 
(19,153
)
Operating expenses
(36,774
)
 
(35,669
)
 
(18,873
)
 
(18,164
)
Gain on sales of real estate assets
1,434

 
—

 
1,164

 
—

Net income
$
14,405

 
$
12,910

 
$
8,704

 
$
7,102