Consolidated Joint Venture and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Summary of Allocation of Fair Value

The following is a summary of the allocation of the fair value of Fashion District Philadelphia:

Property	$	331,514
Deferred charges	25,272
Cash and cash equivalents	4,492
Restricted cash	1,319
Tenant receivables	8,476
Other assets	30,582
Total assets acquired	401,655
Mortgage note payable	201,000
Partnership loan(1)	100,000
Accounts payable	6,673
Due to affiliates	3
Other accrued liabilities	55,717
Total liabilities assumed	363,393
Fair value of acquired net assets (at 100% ownership)	$	38,262

(1)The Partnership Loan is eliminated in the Company's consolidated financial statements.

The following is a summary of the allocation of the fair value of Sears South Plains:

Land	$	8,170
Building and improvements	11,130
Fair value of acquired net assets (at 100% ownership)	$	19,300

Schedule of Business Acquisitions, by Acquisition

The Company recognized the following remeasurement loss on the Fashion District Philadelphia restructuring:

Fair value of acquired net assets (at 100% ownership)	$	38,262
Fair value of the noncontrolling interest	(19,131)
Carrying value of existing investment in the joint venture	(182,429)
Loss on remeasurement of asset	$	(163,298)

16. Consolidated Joint Venture and Acquisitions: (Continued)