XML 76 R60.htm IDEA: XBRL DOCUMENT v3.8.0.1
Investments in Unconsolidated Joint Ventures - Financial Results (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Assets:      
Property, net $ 9,052,105 $ 9,176,642  
Other assets 635,838 614,607  
Total assets 9,687,943 9,791,249  
Liabilities and partners' capital:      
Mortgage and other notes payable 5,296,594 5,224,713  
Other liabilities 405,052 403,369  
Company's capital 2,188,057 2,279,819  
Outside partners' capital 1,798,240 1,883,348  
Total liabilities and partners' capital 9,687,943 9,791,249  
Investment in unconsolidated joint ventures:      
Company's capital 2,188,057 2,279,819  
Basis adjustment (562,021) (584,887)  
Investments in unconsolidated joint ventures 1,626,036 1,694,932  
Assets—Investments in unconsolidated joint ventures 1,709,522 1,773,558  
Liabilities—Distributions in excess of investments in unconsolidated joint ventures (83,486) (78,626)  
Investments in unconsolidated joint ventures 1,626,036 1,694,932  
Total assets 9,687,943 9,791,249  
Amortization of difference between cost of investments and book value of underlying equity 16,562 17,610 $ 5,619
Revenues:      
Minimum rents 636,182 600,284 315,093
Percentage rents 18,916 20,917 15,757
Tenant recoveries 235,634 235,144 137,467
Other 57,726 56,240 35,113
Total revenues 948,458 912,585 503,430
Expenses:      
Shopping center and operating expenses 284,611 274,508 172,647
Interest expense 198,767 187,669 88,727
Depreciation and amortization 352,546 360,378 150,626
Total operating expenses 835,924 822,555 412,000
(Loss) gain on sale of assets 33,825 (375) 9,850
Loss on extinguishment of debt     (3)
Net (loss) income 146,359 89,655 101,277
Company's equity in net (loss) income 85,546 56,941 45,164
Pacific Premier Retail LP      
Revenues:      
Minimum rents 134,450 129,145 21,172
Percentage rents 5,050 5,437 2,569
Tenant recoveries 46,575 47,856 8,408
Other 5,959 6,303 1,182
Total revenues 192,034 188,741 33,331
Expenses:      
Shopping center and operating expenses 41,340 39,804 6,852
Interest expense 67,053 64,626 10,448
Depreciation and amortization 101,625 108,880 16,919
Total operating expenses 210,018 213,310 34,219
(Loss) gain on sale of assets (36) 0 0
Loss on extinguishment of debt     0
Net (loss) income (18,020) (24,569) (888)
Company's equity in net (loss) income (453) (3,088) 1,409
Other Joint Ventures      
Revenues:      
Minimum rents 501,732 471,139 293,921
Percentage rents 13,866 15,480 13,188
Tenant recoveries 189,059 187,288 129,059
Other 51,767 49,937 33,931
Total revenues 756,424 723,844 470,099
Expenses:      
Shopping center and operating expenses 243,271 234,704 165,795
Interest expense 131,714 123,043 78,279
Depreciation and amortization 250,921 251,498 133,707
Total operating expenses 625,906 609,245 377,781
(Loss) gain on sale of assets 33,861 (375) 9,850
Loss on extinguishment of debt     (3)
Net (loss) income 164,379 114,224 102,165
Company's equity in net (loss) income 85,999 60,029 43,755
Northwestern Mutual Life (NML)      
Investment in unconsolidated joint ventures:      
Mortgage notes payable to affiliate 482,332 265,863  
Interest expense on borrowings from related party 17,898 16,898 $ 29,372
Pacific Premier Retail LLC—Various Properties      
Assets:      
Total assets 3,106,105 3,179,255  
Investment in unconsolidated joint ventures:      
Total assets 3,106,105 3,179,255  
Total liabilities $ 1,872,227 $ 1,887,952